Class-A Office Building in Vibrant Ballston Grows In-Rel’s Portfolio in the DC metro region.

Arlington, VA – December 20, 2024 – In-Rel Properties is pleased to announce the acquisition of Ballston Gateway, a premier Class A office building located at 3865 Wilson Boulevard in Arlington, Virginia. This strategic acquisition underscores In-Rel’s conviction in high-quality, value-driven office assets located in dynamic markets.

The 145,672-square-foot Ballston Gateway, an award-winning property, is located in the heart of Arlington’s thriving Ballston neighborhood, a young, live-work-play destination in the DC metro area. The property is currently 71% leased to a strong mix of tenants, including major government contractors and leading defense and technology organizations.

Ballston Gateway recently underwent a $4.6 million renovation, which modernized its lobby, tenant lounge, conference center, and spec suites, earning it a 2023 NAIOP award for excellence. The building’s high-end amenities and its prime location make it highly attractive to both existing and prospective tenants seeking connectivity, quality, and a vibrant business environment.

“We are thrilled to add Ballston Gateway to our portfolio,” said Jackson Siegal, Principal at In-Rel Properties. “Its strong tenant base, exceptional renovations, and location in one of Northern Virginia’s most dynamic submarkets make it an excellent opportunity for both immediate income and longterm value creation. We look forward to implementing our business plan to further enhance the property’s occupancy and tenant experience.”

Burke & Herbert Bank proudly served as the finance partner for the acquisition, supporting In-Rel Properties’ vision to create thriving spaces that drive growth and enrich communities. “Projects like Ballston Gateway reflect the dynamic growth of Northern Virginia and the opportunities it offers to businesses and residents alike,” said Michael Solomon, Regional President of Burke andHerbert Bank. “We are proud to support this acquisition, knowing it will play a role in strengthening Arlington’s business community and fostering long-term economic development.”

In December of 2023, In-Rel made its first acquisition in the DC metro area with the purchase of 7500 Old Georgetown Road in Bethesda, Maryland. In-Rel Properties remains committed to investing in quality real estate assets that align with its mission of providing exceptional spaces for tenants. This acquisition furthers the company’s strategic focus on value-add opportunities in competitive, high growth markets.

About In-Rel Properties

Founded in 1984, In-Rel Properties is a privately held commercial real estate investment and management firm with a robust portfolio of office and retail properties across the United States. With a focus on enhancing property value through strategic investment, renovation, and tenant-focused management, In-Rel is dedicated to creating superior commercial real estate experiences. For more information, please visit www.in-rel.com.

About Burke & Herbert Bank

Burke & Herbert Bank is the oldest continuously operating bank under its original name headquartered in the greater Washington, D.C. metropolitan area. With over 75 branches across Delaware, Kentucky, Maryland, Virginia, and West Virginia, Burke & Herbert Bank offers a full range of business and personal financial solutions designed to meet customers’ banking, borrowing, and investment needs. Learn more at burkeandherbertbank.com.

In-Rel Properties (“In-Rel”) celebrates its first DC Area acquisition with the purchase of 7500 Old Georgetown Road in Bethesda, Maryland. The investment consists of a 16-story, 335,00 square foot Class A office complex which is currently 40% leased.  

In-Rel is planning to open an onsite management office that will ensure responsive and efficient service for tenants, reinforcing In-Rel’s dedication to providing top-notch commercial real estate service.  Furthermore, In-Rel is committed to an aggressive leasing strategy, with the ability to promptly fund tenant improvements and leasing commissions.

Dennis Udwin, President of In-Rel, commented on the acquisition, saying, “This marks an exciting chapter for In-Rel. We are not just acquiring a property; we are investing in a prime location in the DC area. The timing might not have been favorable for the previous ownership, but they did an outstanding job renovating the exterior, lobbies, bathrooms, gym, and conference center. We are here to build on that foundation and unlock the property’s full potential.”

The iconic building is situated in an A+ location adjacent to Bethesda Station (Red Line Metro), offering tremendous opportunities for tenant signage on both the building and helipad rooftop.  There are also prime locations for retail users on the street and metro levels.

As a vertically integrated company, In-Rel brings over 30 years of industry experience currently operating in six states with 3.5 million square feet under management.  Known for its expertise in revitalizing troubled office buildings, In-Rel has a proven track record of success, and looks forward to transforming this asset into a dynamic workplace in downtown Bethesda.

For leasing information, please contact: Gwen Dominguez (gwen.fraker@cushwake.com­) or Ben Powell (ben.powell@cushwake.com)

Ollie’s Bargain Outlet Construction Completed at Tifton Mall

Source: Press Release

Tifton, Georgia

In-Rel Properties is pleased to announce that we have substantially completed tenant improvements for the Ollie’s Bargain Outlet, Inc. (NASDAQ:OLLIE) space at Tifton Mall in Tifton, GA and turned over the Premises to Ollie’s.  They have commenced installation of store fixtures and should be receiving their first shipments of merchandise – “Good Cheap Stuff” – in the next 30 days.  The store is on schedule to open in the second quarter of 2019.

 

FOR IMMEDIATE RELEASE

Contact:          Alex Boetcher, In-Rel Properties, Inc.

Email:              aboetcher@in-rel.com

Telephone:     (561) 533 -0344

First Alliance Bank Joining Clark Tower

Memphis, August 1, 2017 First Alliance Bank (FAB) today announced it intends to relocate its Poplar Avenue branch banking office to Clark Tower.  FAB signed a 10-year lease to occupy new offices adjacent to Clark Tower’s recently remodeled lobby.  The branch will provide full banking services and a drive-through facility for its customers, subject to final regulatory approval.

Clark Tower has recently completed $8 million of improvements to its lobby, selected common areas, HVAC systems, elevators, and surrounding walkways.  The building now features a 60-person conference center, tenant game room, and a new marquee entry adjacent to FAB’s upcoming offices.

Hunt Campbell, president of First Alliance Bank said, “For the past 10 years First Alliance Bank has operated in East Memphis and this new, state-of-the-art, office at Clark Tower is our commitment to continue serving this vibrant community for the long term.”

First Alliance Bank is a Memphis-owned, state-chartered commercial bank with a primary focus on Memphis banking for small and medium-sized businesses and professionals.  The bank has been recognized as a Memphis Most “Best Bank” and a Memphis Business Journal “Top Place to Work” finalist.

Kirk Cypel, CEO Clark Tower, LLC notes, “We are excited and flattered to have First Alliance Bank join us.  They complement an already impressive list of financial and professional firms that occupy the tower.  Considering the popular dining and shopping establishments as well as the entertainment and lifestyle amenities located both in and around our campus; the bank’s move confirms that Clark Tower is the ultimate destination for those who work, play and stay in the greater Memphis area.”

Clark Tower is a featured asset of the In-Rel Properties portfolio.  Since 1984 In-Rel has been a vertically integrated real estate investment and management firm. The company adds value to real estate investments through property upgrades, strategic repositioning, and solid management.