Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent for the sale of the Parc Square Apartments, a multifamily property located in Alexandria, VA.

Greysteel President, Ari Firoozabadi; Senior Director, W. Kyle Tangney; Director, Rawles M. Wilcox; and Investment Associates, Alicia Orkisz and Herbert Schwat; of the Company’s Washington, D.C. office, are marketing the property.

The Parc Square Apartments, built in 1940, is a fully renovated garden-style multifamily property that totals 66 units and is located at 602-604 Notabene Drive, 3906 Old Dominion Boulevard, 3812 Old Dominion Boulevard, and 525-527 Four Mile Road. Units feature open floor plans, laminate flooring, walk-in closets, dishwashers, disposals, and washer/dryers in select units. Community amenities include 24-hour emergency maintenance and outdoor barbeque areas.

The property’s prime location in Alexandria is in close proximity to Washington, D.C., Arlington, the Pentagon, and Ronald Reagan National Airport. The planned development of a Metro station one mile away at Potomac Yard Center will make the property easily accessible for residents and provide further upside for investors. Residents enjoy a wealth of retail, dining, and grocery options in the surrounding area as well as the nearby Potomac Yard Center and Fashion Centre at Pentagon City. Old Town Alexandria and the trendy Del Ray neighborhood host numerous cultural, entertainment, and nightlife destinations.

“Current ownership has made significant investments, positioning the property for immediate returns and minimizing need for upfront expenditures,” said Ms. Orkisz. “Full scale renovations have allowed Parc Square to serve as a lower cost alternative to Alexandria’s Class A heavy supply and have attracted a solid tenant base willing to pay premiums for upgraded units,” she added.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; Fort Worth, TX. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com