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Avison Young represents bank in purchase of 110,047-sf building in Alexandria, VA
July 11, 2022
Burke & Herbert Bank & Trust Company acquires 5680 King Centre Drive for $22 million to bring together part of its local workforce, now dispersed across various locations in area
Washington, DC – Avison Young today announced that it has represented the buyer of 5680 King Centre Drive, a premier office building in Alexandria, VA.
Burke & Herbert Bank & Trust Company bought the 110,047-square-foot building for $22 million. Representing Burke & Herbert Bank was an Avison Young team led by Jim Kornick and Bill Evans, Principals at Avison Young. The seller was not represented by a broker.
The new building allows Burke & Herbert Bank to bring together a large portion of its local workforce, which is currently dispersed across various locations in the area. The Bank's main headquarters will remain at its historic location at 100 South Fairfax Street in Old Town Alexandria.
"Consolidating our team under one roof allows us to improve collaboration, work much more efficiently, and continue to strengthen and build the Bank's signature culture of community as we embrace future expansion," said David P. Boyle, the Bank’s President and Chief Executive Officer. "The acquisition of this building is consistent with our plans for growth as we continue to execute our strategic priorities."
The new office will house employees from several departments, including commercial, treasury management, retail banking, human resources, operations, finance and accounting, credit risk management, marketing, digital strategy and information technology. The new location is more centrally located for its expanding workforce, is certified as a LEED Gold level building and provides additional visibility for the Bank.
“We are proud to have helped Burke & Herbert Bank find the ideal building for its employees working around the area,” Kornick said. “This is a first-class building in an incredible location, offering convenient access to commuter roads and nearby stores, restaurants and other amenities.”
Burke & Herbert Bank is the oldest bank in the Commonwealth of Virginia and the oldest continuously operating bank in the Washington, DC area. The Bank offers a full range of personal and business banking products and services designed to meet customers' banking, borrowing, and investing needs. Headquartered in Alexandria, Burke & Herbert Bank has over 20 branches, and operates throughout Northern Virginia, including Loudoun County, as well as in greater Fredericksburg and the Richmond metro area.
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