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Boundary Cos. acquires the Torpedo Factory office building in Old Town

By June 6, 2019October 28th, 2020No Comments
Torpedo Factory Offices old town Alexandria Boundary Companies

The Boundary Cos. has acquired the Torpedo Factory office building, the real estate firm’s first buy in Old Town after inking a series of deals along Alexandria’s Eisenhower Avenue corridor.

Chevy Chase-based Boundary closed Monday on its $39 million purchase of 201 N. Union St., a roughly 106,000-square-foot building adjacent to the Alexandria-owned Torpedo Factory Art Center. The seller, Torpedo Factory Associates L.P., was an affiliate of The Realco Group.

Like the real estate firm’s other acquisitions, Boundary President John Wilkinson said he sees 201 N. Union as a long-term investment. It is proximate to Virginia Tech’s planned innovation campus and HQ2Amazon.com Inc.’s second headquarters, a factor Wilkinson had in mind in pursuing the off-market deal. The five-story building features waterfront views and ceiling heights ranging from 10 feet to 18 feet. The building and adjacent art museum draw their name from the the U.S. Naval Torpedo Station that operated at the site.