Washington, DC (PRWEB) May 24, 2016
Savills Studley, the leading global commercial real estate firm, is pleased to announce that its long-time client, the Institute for Defense Analyses (IDA), recently acquired a 370,000 square foot site for future development located at 701 East Glebe Rd in Alexandria, VA. The site is one block from the future Potomac Yard Metro Station.
“IDA is very excited to have acquired land in the up-and-coming mixed-use Potomac Yard area,” said IDA’s Treasurer and Director of Finance Dean Graves. “The purchase will allow us to remain in the City of Alexandria, where we have been since 1981.”
The approximately two acre site was purchased from a joint venture of The JBG Companies and MRP Realty, who are developing a large section of Potomac Yard.
Savills Studley’s Executive Vice President David Lipson, Executive Vice President Art Greenberg and Managing Director Bie Chu Lee, represented IDA throughout the transaction. The land is located along the flight path of National Airport and thus required FAA approval for the planned building.
“This was an excellent opportunity for IDA to acquire land for future development,” said Greenberg. “The organization will be located in a burgeoning mixed-use community in close proximity to its customers.”
IDA (Institute for Defense Analyses) – a not-for-profit corporation headquartered in Alexandria, Virginia just outside Washington, DC – operates three Federally Funded Research and Development Centers (FFRDCs) in the public interest: the Systems and Analyses Center, the Science and Technology Policy Institute, and the Center for Communications and Computing. IDA exists to promote national security, preserve the public welfare, and advance scientific learning by analyzing, evaluating, and reporting on matters of interest to the United States Government.
Sponsors rely on IDA for dispassionate, fact-based, and scientifically rigorous research and advice to inform their decisions. Since 1956, IDA’s basic mission has remained unchanged – bring the best scientific, technical, and analytic talent to bear on issues critical to U.S. National security, in a research environment free of commercial or shareholder interests where objectivity and the public interest are foremost. https://www.ida.org/
About The JBG Companies
Headquartered in Chevy Chase, Md., The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington, DC area. Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities. For more information, please visit http://www.JBG.com or find us on Twitter @TheJBGCompanies and Facebook facebook.com/TheJBGCompanies.
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 27 offices in the U.S. and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).For more information, please visit http://www.savills-studley.com and follow us on LinkedIn and Twitter @SavillsStudley