Major Institutional Investor Acquires New Office Property Under Development in Hoffman Town Center
San Antonio-based USAA Real Estate Co. purchased the 2.03-acre site of the future National Science Foundation (NSF) headquarters in Alexandria, VA.
The NSF will occupy approximately 94% of the Class A, 704,571-square-foot, two-tower development at Block 8 of the Hoffman Town Center, a 56-acre master-planned development that, upon its completion in 2020, will include 3.5 million square feet of Class A office space across 10 buildings, 1.5 million square feet of housing in four residential towers, two full-service hotels, 220,000 square feet of retail stores and restaurants and a 22-screen AMC Theater.
Lowe Enterprises is overseeing the ground-up property development of NSF's headquarters and will take on the managing assignment following the property's delivery sometime in late 2016.
WDG has been selected to design the project, while Balfour Beatty will serve as the general contractor.
Brendan Owen of Newmark Grubb Knight Frank coordinated the disposition on behalf of the selling venture, the Hoffman family.
Initial CoStar coverage of the groundbreaking can be found here
Please see CoStar Comp #3004212 for additional information on the transaction.