Month: August 2021

A ‘Mad Rush’ For New Cannabis Retail Space Begins Again As State Completes New Round Of Licensing

The state’s beleaguered retail sector may be on the verge of getting a much-needed shot in the arm. After a year of delay, lotteries for the state’s coveted cannabis dispensary licenses were held in July and August, and even though legal disputes could still upend the whole process, the lucky winners are already out in …

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Outdoor Dining Saved Thousands Of NYC Restaurants. Its Future Is Still An Open Question

For over a year, diners packed into outdoor eateries lining streets like St. Mark’s Place in the East Village and Fifth Avenue in Brooklyn, many into structures outfitted with windows, television screens and heat lamps where parking spaces and bus lanes once were — many times bisected by heavily traveled bike lanes. This new form of outdoor …

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NoMa Development Site Long Planned As Condo Project Offered For Sale

A development site in the booming NoMa neighborhood that has been planned as a condo project for over five years has hit the market for sale.  Avison Young this month began marketing the site at 1109 Congress St. NE, a 10K SF lot that has Zoning Commission approval for an eight-story, 62-unit multifamily building.  The brokerage firm …

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Donaldson Group Buys Silver Spring Apartments For $90M

The Donaldson Group is continuing to grow its portfolio of suburban D.C. apartment complexes with an acquisition in Silver Spring.  The Rockville-based firm, in partnership with a fund managed by DRA Advisors, acquired the Warwick Apartments for $90.5M from BDMG, the Washington Business Journal reports.  The 398-unit apartment complex at 1131 University Blvd. sits about 4 …

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Restaurant Migration Creates Dire Shortage Of Eatery-Ready South Florida Space

Wife-and-husband restaurateurs Christie Tenaud, a chef, and Roberto Colombi, a sommelier and general manager, operated The Blue at the Boca Raton Resort & Club but wanted to open their own space somewhere in South Florida. They started looking in December of 2018. “We looked from Wellington to Hollywood,” Tenaud said. In February of 2020, they …

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PRP Sheds Office Assets, Plans $2B Of Industrial, Data Center Acquisitions

PRP is transforming its portfolio by selling a series of office buildings and planning to acquire industrial and data center assets.  The D.C.-based real estate investment firm Monday announced it closed on the sales of office properties in Arlington, Virginia, and Austin, Texas, and it has entered into agreements to sell properties in Dallas and Gaithersburg, Maryland. Along with the …

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