Month: April 2021

Lennar Pitches 470-Unit Project On Richmond Highway

A new multifamily project is moving forward on Richmond Highway near one of the planned bus rapid transit stations where Fairfax County has envisioned high-density development.  Lennar Multifamily Communities this week filed plans with the county for a 470-unit project on a 7.6-acre site near the intersection of Richmond Highway and North Kings Highway.  The property currently consists of several …

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Hanging On By The Skin Of Their Teeth: Remnants Of Once-Large Restaurant Chains

Even before the coronavirus pandemic, the restaurant business was a tough one, with an estimated 60% of new locations closing within a year, and 80% failing within five years. Even some of the most successful chains can enter a period of decline and fall for any number of reasons, such as long-term mismanagement, failing to adapt …

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Owner Of Mall Near Amazon HQ2 Lands $450M Refinancing Deal

A mixed-use use property near Amazon HQ2 featuring a shopping mall, hotel and office building is the collateral behind a huge new CMBS loan.  The owner of Fashion Centre at Pentagon City, a joint venture of Simon Property Group and Institutional Mall Investors, landed $455M in CMBS debt from Wells Fargo, Commercial Observer reported, citing a Fitch …

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The Innovators: Apprise

In this series, Bisnow highlights people and companies pushing the commercial real estate industry forward in myriad ways. Click here to read Q&As with all the innovators Bisnow has interviewed so far. For decades, the appraisal industry — an important cog in the commercial real estate ecosystem — has operated with a largely manual workflow, with appraisers using …

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Wilkes, Quadrangle Prepare To Break Ground On Mount Vernon Triangle Project, Look To Sell Nearby Site

The development team that has spearheaded the growth of Mount Vernon Triangle is looking to sell one of its last remaining sites in the neighborhood.  Wilkes Co. and Quadrangle Development retained Meany & Oliver last month to market the development site at 950 Third St. NW for sale.  The site’s zoning would allow for residential or office development, and …

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‘People Are Starting To Move Again’: D.C.’s Apartment Market Shows Signs Of Recovery

The worst appears to be in the rearview mirror for the D.C. apartment market, with new data showing demand and vacancy began to improve in the first three months of 2021.  The market still is well below pre-Covid levels, and rents have yet to recover, but the improvement is expected to continue during the spring …

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