M id A tlantic Real Estate Journal — August 20 - September 16, 2021 — 15A


Partnership with Ares Management intends to construct two class A industrial buildings Becknell Industrial closes on land parcel in Richmond, Virginia

ICHMOND, VA — Becknell Industri- al has purchased an 83.37-acre parcel at the Sauer Industrial Center in the Air- port submarket of Richmond. The partnership between Beck- nell and Ares Management intends to construct two class A industrial buildings total- ing approximately 726,000 s/f. Building 1 will be a 446,692 s/f cross-docked facility and Build- ing 2 will be a 279,319 s/f rear- load industrial building. Both buildings, scheduled to be com- plete in May 2022, will have ample car and on-site trailer parking and will feature mod- ern building attributes such as ESFR sprinkler systems, LED lighting with motion sensors and sufficient dock packages. “Becknell is pleased to fur- WASHINGTON, DC — Newmark announced the $13M sale of 1527-1529 18th St., NW from the Mathemati- cal Association of America (MAA) to the University of Utah. The sale comprises three buildings: 1529 18th St., NW, 1527 18th St., NW and a Carriage House at 1781 Church Street, NW. Newmark’s Senior managing director Doug Damron and managing director Chris Lu- cey were the sole brokers on the transaction, representing both the buyer and seller. The asset encompasses 22,340 s/f sitting on a 10,854 square foot lot. The University of Utah will use the location as a living and gathering place for students of the Hinckley Insti- tute of Politics, which runs one of the nation’s most enduring and prestigious Washington, DC internship programs. The location was a key component for their decision to purchase the asset as it offers students a safe environment in which to access Dupont Circle and Capitol Hill. The MAA plans to relocate within the same neighborhood to a more mod- ern and efficient space. R

new construction. The Center will be supported by existing highways providing access to destinations throughout the East Coast. This extensive highway network can facilitate same day delivery to many of the largest cities in the U.S. including Washington, D.C., Philadelphia and New York. “We are excited to be part- nering with Becknell to de- velop Phase I of the Sauer Industrial Center,” said Ash- ley Peace , Sauer’s president. “Sauer Properties intends to develop future phases of the center. Our Company has been making its mark in the Rich- mond area for over 130 years and will continue this tradition of developing landmark prop- erties with the Sauer Indus- trial Center.” MAREJ throughout. It also includes parking for 22 vehicles and an outdoor patio that may also be converted to rare private outdoor space. This property once served as the residence of Charles Evans Hughes, an American states- man, lawyer and politician who served as the 36th Governor of New York, United States Secretary of State, and Chief Justice of the Supreme Court of the United States. In addition to Hughes, previous occupants of the building include the Cu- ban Legation and its Minister Plenipotentiary Carlos Manuel de Céspedes y Quesada, Sena- tor Frederic M. Sackett, the Association of Military Col- leges and Schools of the United States, and the Association of the United States Army. Aside from the property’s historic charm, it is in the most walkable neighborhoods off Dupont Circle. The asset offers walkable access to doz- ens of retail stores, restau- rants and hotels, and transit via Dupont Circle Metro, Farragut North Metro, Far- ragut West Metro, Circulator Bus, and Capital Bikeshare stations. MAREJ

Becknell Industrial purchased an 83.37-acre parcel at the Sauer Industrial Center

ther expand its footprint in the Richmond market,” said Derek Hawkins , Becknell’s senior vice president – leasing & development. “When the aforementioned buildings are complete, Becknell’s holdings in the Airport submarket will

surpass 2 million s/f of class A industrial product. Becknell is grateful to the Sauer family and Sauer Properties, Inc. for the partnership to bring this class A industrial develop- ment to market.” Located on Seven Hills Blvd.

in Henrico County, the site is one mile to the Richmond In- ternational Airport, 10 miles to Richmond Marine Terminal and 85 miles to The Port of Virginia. Once fully devel- oped, Sauer Industrial Center will consist of 3 million s/f of

Newmark announces the $13M sale of 1527-1529 18th Street, NW from the Mathematical Association of America (MAA)

1527-1529 18th Street, NW

“Even during the tumult of the past year amidst the pandemic, Washington DC has seen increased demand for organizations looking for space,” said Damron. “This past year alone, we’ve seen several universities putting an outpost here as they real- ize there’s a long-term play for their students to be in a well-located asset as they learn the ins and outs of the

nation’s capital.” 1529 18th St. , NW is a Classic Revival style building located in the heart of DC’s Central Business District. The property was built in 1903; the three buildings feature distinctive red brick, grand columns, extensive trim and oversized windows. Interior features include a large staircase, elevator, con- ference room, high ceilings

and fireplaces. In 2005 the Carriage House was converted to a meeting facility with one large conference room for 70 people and two smaller con- ference rooms on the second floor. The generous floorplates within all three buildings easily accommodate multiple offices and open work areas, and the building’s corner location adjacent to the al- leyway provides natural light

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