- ADDRESS:628-684 S. Pickett Street Alexandria, VA 22304
- MARKET:Washington, DC
- YEAR BUILT:1963-75
- RENTABLE AREA:118,700 Square Feet
- AVG. FLOOR PLATE:39,567 Square Feet
- PARKING:299 Free Surface Parking Spaces
Pickett Square is a 120,000 square foot retail/industrial product purchased with a strategy of generating cash flow for ten years before redevelopment as multi-family.
At the time of acquisition in 2012, the submarket was infilling quickly with high-rise residential and contemporary retail.
Capital improvements enhanced tenant appeal, management changes pleased exiting tenants, and lease terms were improved and made coterminous with the anticipated redevelopment date.
Pickett Square is 97% leased and generating an attractive annual return. Moore is participating in the City’s area planning process in anticipation of redevelopment.