Month: June 2021

Museum Signs 28K SF Lease At Bethesda Metro Center

A children’s museum will nearly quadruple its footprint with a new space next to the Bethesda Metro station.  Brookfield Properties announced Wednesday it signed a 28K SF lease with KID Museum at 3 Bethesda Metro Center. The museum plans to begin construction this summer and open in early 2022.  KID Museum is currently located in 7,500 SF in …

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Housing Official’s Hire As Developer CEO Sparks Ethics Concerns Over Real Estate Contracts

A top Montgomery County housing official has accepted the role of CEO at a development firm after his agency gave more than 30 property management contracts to its closely affiliated sister company.   Stacy Spann, the executive director of the Housing Opportunities Commission of Montgomery County, announced on June 8 he plans to leave the agency to become …

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How Can D.C. Building Owners Comply With The City’s New Energy Performance Standards?

Next to “D.C.,” there are no initials higher up in the minds of Washington commercial real estate building owners than “BEPS.” These letters stand for D.C.’s new Building Energy Performance Standards program, which builds on benchmarking requirements the district implemented in 2015. These standards have been constructed around the median Energy Star score for buildings, …

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Peloton Signs 84K SF Industrial Lease In Prince George’s County

Peloton is leasing industrial space in Prince George’s County to help distribute its connected stationary bikes and treadmills across the D.C. region.  The growing fitness company signed an 84K SF lease in a newly built warehouse project at 716 Ritchie Road in Capitol Heights, Bisnow has learned. Developer Pinkard Group, in partnership with Columbia Real Estate Management, delivered the 159K SF …

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Seritage To Sell Up To 50 Former Sears Properties To Fund Development Efforts

A passel of former big-box stores is about to hit the market, possibly opening up more retail-to-industrial conversion opportunities. Seritage Growth Properties will be putting 40 to 50 of the former Sears sites it owns up for sale, Bloomberg reports. Seritage CEO Andrea Olshan, who took on the top role at the Sears real estate spinoff …

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GSA Submits $11B Proposed Budget With Funding For Several Big D.C.-Area Projects

A series of federal real estate projects could move forward in the D.C. area under a new budget proposal from the government’s real estate arm.  The General Services Administration submitted a $10.93B budget to Congress, an increase from its previous $9.07B budget, the Washington Business Journal reported.  The budget includes $253.8M for the Department of Homeland …

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Retail Is Coming Back Without Having To Make Sweeping Changes

The coronavirus pandemic has finally loosened its grip on retail, and the recovery looks a lot like a return to normalcy. From the initial outbreak through the holiday season, it seemed as if the pandemic had accelerated pre-existing trends in retail, possibly spelling doom for long-struggling sectors. But even as online shopping has remained strong enough to …

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Foulger-Pratt Breaks Ground On 343-Unit Project Near Westfield Montgomery Mall

A new apartment project is moving forward on the site of a former car dealership near Westfield Montgomery, a Bethesda mall with its own massive redevelopment planned. Foulger-Pratt broke ground on The Rae at Westlake, a 343-unit project designed by KTGY, the architecture firm announced Tuesday. It is expected to deliver in Q3 2023. The project sits at the intersection …

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