Mixed-Use Office and Retail Project; Office component scheduled for completion early 2018; Retail improvements to follow late 2018
Alexandria, VA – November 13, 2017 – Rubenstein Partners, L.P. (including its affiliates, “Rubenstein”), along with its joint venture partner Northpoint Realty Partners, is unveiling its progress in the design and renovations of Carlyle Tower and the Shops at Carlyle Tower located at 2461 Eisenhower Avenue in the Carlyle submarket of Alexandria. The team has timed its efforts with the recent opening across the street from the National Science Foundation (NSF), who moved from Ballston this month into a new 720,000 square foot trophy office building that will serve as NSF’s new headquarters.
“One of the primary reasons we acquired Carlyle Tower was the known relocation of the National Science Foundation,” says Steve Evans, Rubenstein’s DC Market Director. “NSF was the catalyst that transformed Ballston about 15 years ago and we expect similar changes in Alexandria due to NSF, the Carlyle Tower project and several other existing and planned mixed-use projects set to break ground imminently.”
The team also has been working with its neighbor, Perseus Realty and the City of Alexandria, to respond to Amazon’s recent HQ2 RFP requirement.
Rubenstein and Northpoint acquired 2461 Eisenhower Avenue at the end of 2015, which they re-branded to Carlyle Tower and the Shops at Carlyle Tower, and have been working on the design and construction, which was always planned to be completed after NSF’s relocation. The approximately 365,000 square foot mixed use project will be comprised of roughly 335,000 square feet of fully-renovated innovative office space in 14 stories, plus about 22,500 square feet of existing retail and a 7,500 square foot retail pad to be developed.
Northpoint is both a partner and the general contractor in the renovations, which will include a complete “gut and rehab” of basically every office building system, resulting in a “like-new” building with a state-of the art amenity package. While the prior owner replaced the exterior skin, Rubenstein and Northpoint will be replacing just about everything else – elevators, HVAC, common areas – and adding a superior amenity package. Including the six eating establishments located in The Shops at Carlyle Tower, “the tenant lounge, fitness and conference center we have designed are state-of the art and second to none,” says Christian Chambers, Managing Partner for Northpoint. “We also will be upgrading the existing retail and adding the retail pad, once we finalize our approvals with the City of Alexandria,” adds Chambers, “which will further enhance the project and the area.”
The Carlyle Tower office space is being leased by Steve Hoffeditz, Andy Klaff and Ed Clark of Newmark Knight Frank, while the team of Billy Orlove and Jane Le with Rosenthal Properties are leasing the retail space, including the Shops at Carlyle Tower.