Virginia’s Mark Center is acquired for $509 million

In what it claims to be the biggest-dollar real estate transaction in the state of Virginia this year, Morgan Properties bought the Mark Center in Alexandria for $509 million.



The Mark Center combines 2,664 residential units with 63,320 sq. ft. of retail on 150 acres within the Capital Beltway. The site features read access to Interstates 295, 395, and 495 and is within minutes of downtown Washington, D.C.



“We felt this deal was a once-in-a-lifetime investment opportunity to acquire significant size and scale to generate operational efficiencies and enhance the value of the assets. We are on track to acquire over $1 billion of real estate in 2017,” said Jonathan Morgan, president of Morgan Properties JV Management.



Tenants at the Shops at Mark Center include Global Foods, CVS, Starbucks, and Sun Trust Bank.

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