Month: September 2021

BREAKING: Securities And Exchange Commission To Relocate 1.2M SF Headquarters

A major federal agency has decided to pick up and move in one of the biggest office leases in recent years.  The Securities and Exchange Commission plans to move its headquarters to a newly developed building in NoMa. Douglas Development signed a 1.2M SF lease with the General Services Administration to build a new headquarters for the SEC …

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NOVO Lands Loan To Start Construction On Alexandria Apartment Project

A new development near Alexandria’s Braddock Road Metro station, just south of the new Amazon HQ2 and Virginia Tech campuses, has landed construction financing.  NOVO Properties secured a construction loan from EagleBank for the 119-unit apartment project at 1200 North Henry St. Avision Young, which brokered and announced the deal, said the project is planned to break …

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EagleBank Changemakers: Suzanne Hillman On Navigating Unprecedented Times, Advocating For Representation In CRE

“EagleBank is proud to present the DMV Changemakers Series, sharing the experience, work and perspectives of innovative real estate business leaders across the Washington, D.C., market. At EagleBank, we have a singular purpose: to be community builders. Our CRE financing continues to make a positive impact in communities throughout the mid-Atlantic. Our partners are setting …

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Menkiti Group Expands Investment Team, Aims To Improve Capital Access For Diverse Developers

D.C.-based developer The Menkiti Group has made two new hires as part of a strategy to invest in more projects and to help young developers of color access capital.  The company announced Thursday it hired Melissa Lee as senior vice president of capital and investments to lead its MG Capital and Investments division, and it hired John …

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Hard Seltzer Brand Brewing Up Taproom In The Arts District

The Arts District’s breweries and bars will soon be joined by a new taproom for boozy fizzy water.  Truly Hard Seltzer is planning to open an 8K SF, 350-person indoor-outdoor taproom for alcoholic sparkling water next door to Angel City Brewery, a former warehouse-turned-popular nightlife destination. The project broke ground in August and is expected …

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Super Saturday Showdown For Morrisons And Its £6B-Plus Property Portfolio

One of Britain’s largest supermarket chains will be auctioned off Saturday, with the company’s £6B property portfolio a central feature of a long-running takeover battle.  The UK takeover panel said that it would run an auction for Morrisons this weekend, in a process that could see the company sold for more than £10B, including £3.2B …

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Not Just Simon And Brookfield: Smaller Landlords Consider Buying Their Tenants

Tens of thousands of restaurant owners, shopkeepers and retailers have been in financial distress and struggling to make monthly rent payments for much of the past 18 months. Fearing that the bankrupt businesses they lease space to will leave storefronts vacant lowering the value of the real estate, some landlords have been employing an unorthodox business …

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Toll Brothers Unveils New Name, Details For 1,100-Unit D.C. Project Ahead Of 2022 Delivery

The under-construction redevelopment of D.C.’s Sursum Corda housing project is coming into clearer focus ahead of its planned summer 2022 delivery. The Toll Brothers-led development team announced Monday it has branded the 1,100-unit project as Banner Lane, and it unveiled new renderings and details on its first phase. The 6.7-acre development site, formerly the Sursum Corda housing community, …

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‘Growth Isn’t A Given’: Developers Worry About D.C.’s Economic Future

Washington, D.C., has benefited from strong economic growth for much of this century, with thousands of people moving to the city and sparking development in neighborhoods across the District. That growth continuing in the coming decade may seem like an inevitability, but commercial real estate leaders fear the District’s government is taking it for granted …

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