A small two-story building that’s now in the shadow of a much larger development in Courthouse has been placed on the market.
The owner of SuperStar Tickets and its building at 2305 Wilson Blvd says he is searching for a buyer, with the help of a real estate firm, but will only sell for the right price.
Omar Sider said he’s seeking an above-market price for the building, which he thinks could be attractive to investors given its proximity to the Courthouse Metro station and the new development at 2311 Wilson Blvd, which will house the headquarters of local tech firm Opower.
Sider’s building was grouped into the site plan for its larger neighbor and designated as a “stand alone retail pavilion.” Sider says he’s grandfathered in to keeping the building as-is, housing SuperStar Tickets’ offices, but he could also opt to build a new 6,400 square foot building with additional underground space and a connection to the parking garage of 2311 Wilson.
The latter is what any potential purchaser would likely intend to do. Because of the small size of the lot, a tall building is not possible.
“It’s a diamond in the rough,” Sider said of his property. “I don’t really want to sell it.”
Sider purchased the building in 2010 for $1.2 million and refused to sell it to the developer of 2311 Wilson, who he said made an offer only slightly above its market value. At least one anonymous tipster who reached out to ARLnow.com didn’t think holding on to the building was a good idea.
“They could have sold out at any time and made big bucks, but they refused,” said the tipster.
Sider, an Arlington native, said he thinks Courthouse will continue to be an attractive neighborhood, with more development and changes in the works. He said he is content to keep the building in his family “forever” if need be.
Should the building sell, he hopes to move SuperStar Tickets to another office in Arlington. Even if it doesn’t sell, the business is growing and may eventually require a bigger space, according to Sider.