The 20,000-Square-Foot Building Will be Future Home of Goddard School
KLNB, the Mid-Atlantic region’s largest privately held commercial real estate brokerage, has arranged the sale of 5508 Franconia Rd. in Alexandria, Virginia for $6 million. To represent the seller, KLNB put together a team that showcased the firm’s vast breadth of service and sector expertise, consisting of KLNB Principals Marc Tasker, Vito Lupo, and Steve Combs, and Vice President Jack Regler.
The transaction for the 20,000-square-foot property began as a referral to KLNB’s Combs, who collaborated with Lupo to discuss a sales strategy for the property. As talks with the owner began, Combs and Lupo determined the building type was better suited for the marketing and transaction expertise of KLNB’s flex office team in Tysons, Virginia and they shared the opportunity with Tasker and Regler. These efforts yielded immediately results with more than 20 property tours once it was put on the market, and soon after, a satisfactory offer was made.
“After a 90-day marketing and competitive bidding process, KLNB successfully achieved our client’s desired sale price, even in a challenging lending environment,” said KLNB’s Jack Regler. “This marks the Buyer’s second Goddard School location in Alexandria, following the opening of their first school on North Beauregard Street in 2021, helping to meet the growing demand for independent education opportunities in Northern Virginia.”
Built in 1972, the building was originally a roller-skating rink, but since 2005, it has been home to ShadowLand Adventures, a laser tag and arcade venue. The buyer was represented by Bryan Ramos of Retail22 CRE Advisors. Goddard School will take up 75% of the building, with the remaining space being home to SafeSplash Swim School, which offers private swimming lessons for all ages.
The building sits on nearly 1.8 acres and is the future home of a Goddard School franchise location that will be able to accommodate up to 180 students. The new owners plan extensive interior renovations along with several landscaping upgrades.
About KLNB
KLNB is a leading provider of commercial real estate services throughout the Mid-Atlantic region. An independently owned and operated commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, consulting, capital markets, property management, research, marketing, branding, and financing services. More than 120 full-time brokerage professionals work across KLNB’s five offices strategically located throughout the Washington, D.C. / Baltimore region. http://www.klnb.com.
