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Elm Street Development Plans 280-Unit Project Along Richmond Highway

Another development is in the works along the Richmond Highway corridor, where a new transit line and land use plan are intended to spur economic growth. Elm Street Development filed plans with Fairfax County for a 280-unit apartment project at the intersection of Richmond Highway and Buckman Road.  The developer is under contract to buy the …

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Pret A Manger, Facing Millions In Lawsuits, Is The Poster Child For Retail Landlord Limbo

At the southwest corner of Eighth Avenue and 39th Street, one of New York City’s dozens of Pret A Manger locations is sitting dark and empty, all its shelves bare. A sign on the door says it is temporarily closed through the end of the year while “we navigate these uncertain times,” and provides a …

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Amazon Commits $125M To Fund Affordable Housing Near Metro Stations

Amazon has reached a deal to help spur the development of new transit-oriented affordable housing in the region where it is building its second headquarters.  The tech giant announced Wednesday it is committing $125M through a new partnership with WMATA, which runs the Washington, D.C., region’s Metrorail and Metrobus system, that aims to create 1,000 units of affordable …

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Peter Carroccio Out As Cushman & Wakefield’s D.C. Region Head

Cushman & Wakefield is looking for a new regional leader for one of the largest U.S. office markets.  Peter Carroccio, who became head of the firm’s Washington, D.C. region in 2017, is no longer with Cushman & Wakefield, Bisnow has learned.  Carroccio’s LinkedIn page says he left the firm in April and is now self-employed. Cushman & Wakefield last …

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Selfridges Is For Sale For £4B. But How Much Money Does A Good Department Store Make These Days?

Department stores are on the rocks; everyone knows that. And yet a department store company has just gone on the market for £4B.  Selfridges is one of the most famous department stores in the world, its history the subject of a TV drama series, its huge store on Oxford Street in the heart of London …

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Industrial REITs Won 2020; Retail REITs Lost. The Dichotomy Isn’t So Clear Moving Forward

During the coronavirus pandemic, as e-commerce ballooned, industrial’s gains seemed to be in direct proportion to retail’s losses. Industrial was a story of heightened demand and increasing valuations; retail was a tale of woe as tenants went dark or quit paying rent.  In 2021’s post-pandemic environment, the interplay between industrial and retail isn’t as simple …

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Brookfield Invests In New Gaming Startup, Plans 1,000 Locations

One of the world’s largest retail owners is betting on experiential retail post-pandemic.  Brookfield Asset Management participated in an $11M funding round to London-based gaming retailer Electric Gamebox to propel an expansion into 1,000 new storefronts over the next five years, the company announced last week. “We are thrilled to be working with such legendary investors to accelerate our …

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Eds And Meds Help Kick-Start Billion-Dollar Developments In Alexandria

Two of the largest mixed-use projects in the D.C. region are moving forward in Alexandria, spurred on by major institutions that have committed to anchor the developments with billion-dollar campuses.  The 20-acre Potomac Yard redevelopment, anchored by the Virginia Tech Innovation Campus, and the 52-acre Landmark Mall redevelopment, anchored by an Inova Health System hospital, have both taken key steps forward …

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