Mixed-use property in Old Town Alexandria trades hands
JLL Capital Markets led the sales efforts for Tavern Square
WASHINGTON, D.C. Feb. 6, 2025 – JLL Capital Markets announced today that it has completed the sale of Tavern Square, a 171,738-square-foot mixed-use property in Old Town Alexandria, Virginia.
JLL represented the seller and procured the buyer, an affiliate of Melrose Solomon Enterprises.
Tavern Square, which consists of 421 King, 123 N Pitt, and 110 and 132 N Royal Streets, occupies a full city block in Old Town Alexandria. The property was originally built in 1967 and underwent a full renovation in 2019, which added market-leading amenities, including a tenant-only fitness center and a new conference center with tenant lounge. The property is currently 84% leased to a diverse rent roll of 23 tenants.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Matt Nicholson, Kevin Byrd, Andrew Weir, Jim Meisel, Dave Baker, Jordan Lex, Dean Sands and Danny Naughton.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Melrose Solomon Enterprises
Melrose Solomon is a real estate investment firm with office, retail and industrial properties in the Midwest, Mid-Atlantic, and Southeast. With a disciplined value buying strategy, they have built their real estate portfolio to over 2 million square feet over the last decade.