Savills Studley, the leading global commercial real estate firm, is pleased to announce that its client, Graham Holdings Company [NYSE:GHC], recently closed on the disposition of its two Robinson Terminal development sites in Old Town Alexandria, VA.
“Graham Holdings is pleased to have completed the process which will allow the two waterfront sites to be redeveloped, and significantly contribute to the transformation of Old Town Alexandria’s Waterfront,” said Hal S. Jones, Senior Vice President, Finance and Chief Financial Officer, Graham Holdings Company.
The 3.2 acre Robinson Terminal North site, located on the Potomac River at the north end of Old Town Alexandria, was purchased by City Interests and Rooney Properties. The joint venture intends to construct a mixed-use project of 66 multi-family units, a 132-key hotel and 25,000 square feet of retail space including a riverside restaurant.
The Robinson Terminal South site, which comprises an entire city block along the Potomac River in the southeast quadrant of Old Town Alexandria, was purchased by a separate joint venture between EYA and the JBG Companies. The partners intend to construct 70 multi-family units, 26 townhomes, and three restaurants.
Savills Studley’s Executive Vice President Art Greenberg, Executive Managing Director Vernon Knarr and Managing Director Parker Lange, represented Graham Holdings throughout the transaction.