GSA’s New Real Estate Head On The Future Of Federal Government Offices

The federal government is the largest occupier of office space in the U.S., and two months ago it welcomed a new official who will guide its real estate strategy as it adjusts to the changes brought on by the coronavirus pandemic.  The General Services Administration on July 6 named Nina Albert as the commissioner of its Public Buildings Service, …

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New Mixed-Use Projects In Office-Heavy Tysons Could Help Soften Impact Of Remote Work

Tysons, the largest suburban office market in the D.C. region, has long been dependent on people driving their cars into work every day.  But now, with the coronavirus pandemic giving employees more choice about when to come to the office, Tysons is depending on its new mixed-use projects that have walkable retail amenities near Metro stations to help draw people …

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Jefferson Apartment Group Continues D.C.-Area Growth With Reston Acquisition

A multifamily community in Reston has sold to Jefferson Apartment Group, the latest in a series of D.C.-area deals for the firm.  The McLean, Virginia-based multifamily developer announced Monday it acquired, in partnership with Invesco Real Estate, the 190-unit J Harbor Park at North Point property in Reston. A JAG spokesperson said the property sold for $65M. The property at …

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D.C.’s Top Housing Official To Retire

The official who has spearheaded Mayor Muriel Bowser’s affordable housing strategy since she took office in 2015 is retiring.  Polly Donaldson, the director of D.C.’s Department of Housing and Community Development, will retire at the end of this month, she announced Friday. Donaldson, who retires as the longest-serving director of DHCD, managed the District’s Housing Production Trust Fund, …

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Empty Lobbies, Untouched Doughnuts And Shattered Plans: Offices Stayed Quiet The Day After Labor Day

As Ardent Cos. Managing Director Mike Guynn strolled around the manicured grounds of his firm’s Piedmont Center 1 office building in Atlanta Tuesday morning, the property around him was largely quiet. Before the coronavirus pandemic, the Piedmont Center complex in the city’s Buckhead financial district would have been bustling with 8,000 employees from its 225 tenants. But only around …

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Ikea To Buy One Of Britain’s Most Famous Stores For £385M

Global retail giant Ikea is in advanced talks to buy one of the UK’s most prominent stores for as much as £385M — a big price, but one that could leave pensioners of collapsed retailer Arcadia out of pocket.  Ikea is buying 214 Oxford Street from administrators at KPMG, React News reported. The building on Oxford Circus …

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RPT Realty To Pay $131.5M For Dedham Mall Amid Hot Market For Grocery-Anchored Centers

RPT Realty will spend $131.5M for another Greater Boston grocery-anchored shopping center, its fourth purchase in the Bay State in the past three months.  The New York-based retail real estate investment trust is under contract for The Wilder Cos.’ 510K SF Dedham open-air shopping center, RPT announced Wednesday. RPT is purchasing the Stop & Shop-anchored …

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UK-Based Reuben Brothers Buys 3 Manhattan Retail Properties From Vornado

An international private equity and development company that has been dropping hundreds of millions on distressed properties around New York City over the past two years reportedly bought three of the retail properties Vornado sold at a loss last week.  London-based Reuben Brothers purchased 677 Madison Ave., 759 Madison Ave. and 828 Madison Ave. from …

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