WASHINGTON, D.C. – January 10, 2024 – PRP announced today that it has signed a 45,843-square-foot, 15-year lease with the U.S. General Services Administration on behalf of the U.S. Department of Defense. The lease brings 4825 Mark Center Drive to 60% leased, joining a collection of public-sector and private tenants.
4825 Mark Center Drive comprises 220,000 square feet across eight floors and features 40’ x 25’ column spacing, 10’ finished ceiling heights, and expansive 27,000-square-foot floorplates. The property offers several unique amenities, including abundant dark fiber and available power up to 30 MVA, while private-sector tenants benefit from its location within a Qualified Opportunity Zone. PRP expects to complete the lease-up of the building in 2024.
The property is located within the Mark Center submarket, an amenity-rich location along I-395 in Alexandria, just 10 minutes from Amazon’s HQ2. The area offers approximately 150,000 square feet of walkable retail amenities and is adjacent to the Mark Center Hilton and Conference Center, Alexandria Hospital, and Alexandria Community College. The building sits across from the Mark Center Transit Center, providing regional and local bus service, as well as free shuttle service to two nearby Metrorail stations.
“We are pleased to land this 15-year lease during a period of very limited new leasing activity in Northern Virginia,” stated Paul Dougherty, president of PRP. “We acquired 4825 Mark Center Drive 100% vacant and have now signed six leases at the property. We are in active negotiations with medical office and retail tenants whose presence will help transform and reinvigorate this submarket of Alexandria.”
Upon completion of renovations and leasing, PRP will target LEED certification and an Energy Star rating for the building.
4825 Mark Center Drive
