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EDGE COMMERCIAL REAL ESTATE REPRESENTS LANDLORD OF ALEXANDRIA OFFICE BUILDING IN COMPLETING TWO LEASES TO BRING PROPERTY TO FULL OCCUPANCY

AlexandriaNews, Citybizlist.com, Patch.com and Virginia Business Magazine reported on this press release.

February 28, 2014 (Alexandria, VA) – EDGE Commercial Real Estate, the leading locally owned commercial real estate advisory, investment and management company in the Washington metropolitan area, announces today that it has negotiated on behalf of the owner of 909 N. Washington St. in Alexandria two leases totaling more than 16,000 square feet, bringing the 105,000-square-foot property to 100 percent leased.

Scott Rabin (srabin@edgecre.com), EDGE VA Regional Manager, represented the landlord, the Armed Forces Benefit Association, in completing the two leases with 5 Star Life Insurance Company and Edgesource Corporation.

Approximately three years ago, EDGE was selected to lease 909 N. Washington St., in addition to performing the asset and property management, which company Executive Vice President John Misleh (jmisleh@edgecre.com) leads. At that time, the building had a lot of vacancy and deferred maintenance.

With the guidance of EDGE’s management team, the owner has invested significant capital to enhance the common areas and replace a majority of the building’s infrastructure systems, such as a full replacement of all HVAC equipment and installation of a fully digital Building Automation System.

These renovations, Rabin says, helped reposition the property and make it more energy efficient.
 Since then, EDGE has restructured the Armed Forces Benefit Association’s use of space within the building, while executing on the strategic plan to restack the remainder of property.

“We’re extremely pleased to have negotiated on behalf of the Armed Forces Benefit Association in completing transactions for 5 Star Life Insurance Company and Edgesource Corporation that bring 909 N. Washington St. to full occupancy,” Rabin says. “Recent published reports indicate that the commercial real estate sector in Alexandria is struggling, and getting this particular property to 100 percent leased reflects the dedication, strength and talent of our truly integrated leasing and asset/property management teams.”

About EDGE Commercial Real Estate:
Bethesda-based EDGE Commercial Real Estate, with offices also in Tysons Corner, is a leading commercial real estate advisory, management and investment company. The firm’s services are designed around a creative entrepreneurial spirit with a regional company’s agility, which has enabled EDGE to deliver superior results to its clients and partners. The EDGE executive team possesses nearly 180 years of combined commercial real estate experience and a track record that includes many of the Washington, D.C., metropolitan area’s most noteworthy transactions, totaling nearly $6 billion. Currently, the firm manages more than 8.4 million square feet of commercial space throughout the D.C. region. For more information, please visit http://www.edgecre.com.

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