District of Columbia Archives - REBusinessOnline

Jemal Real Estate, DivcoWest Plan Office-to-Residential Conversion in D.C.’s West End

Abby Cox — Fri, 09 Oct 2026 13:35:09 +0000

WASHINGTON, D.C. — Jemal Real Estate Strategies and DivcoWest have formed a joint venture to complete an office-to-residential conversion project in Washington, D.C.’s West End district. Madison Realty Capital provided a $40 million loan to fund the acquisition and predevelopment costs. Upon completion of the project, the existing 342,000-square-foot office building located at 1255 23rd St. NW will feature approximately 323 apartments, as well as up to 36 affordable units. Roughly 22,000 square feet of ground-floor retail space will remain in place. Additional project details will be announced as plans advance. The project team includes FILLAT+ Architecture and CBG Building Co.

The post Jemal Real Estate, DivcoWest Plan Office-to-Residential Conversion in D.C.’s West End appeared first on REBusinessOnline.

BLS: U.S. Economy Adds 29,000 Jobs in September, Falling Short of Expectations

Abby Cox — Fri, 02 Oct 2026 15:11:05 +0000

WASHINGTON, D.C. — The U.S. Bureau of Labor Statistics (BLS) has reported that the U.S. economy added 29,000 jobs in September. This figure falls short of the roughly 84,000 new jobs estimated for the month by Dow Jones economists, according to CNBC. Meanwhile, the U.S. unemployment rate has slightly increased to 4.2 percent. The BLS has also downwardly revised the July job gains from +21,000 to -10,000 and the August gains from +162,000 to +133,000, totaling 60,000 fewer jobs than previously reported in those two months. The health care sector continued its upward trend in September (+17,000), but at a slower pace than the average monthly gain over the prior 12 months (+33,000), with gains in ambulatory health care services (+13,000) and in hospitals (+12,000). Meanwhile nursing and residential care facilities lost jobs (-9,000). Employment in construction changed little in September (+11,000), as the industry has averaged an increase of 10,000 jobs per month over the prior 12 months. Employment in nonresidential specialty trade contractors added +12,000 jobs. Manufacturing employment is up by 72,000 since a recent low in December 2025, while adding 9,000 jobs in September. Over the month, employment increased in plastics and rubber products manufacturing (+5,000) and machinery…

The post BLS: U.S. Economy Adds 29,000 Jobs in September, Falling Short of Expectations appeared first on REBusinessOnline.

IPA Negotiates Sale of 85,514 SF Shopping Center Near D.C

Abby Cox — Fri, 02 Oct 2026 13:27:52 +0000

CAPITOL HEIGHTS, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Coral Hills, an 85,514-square-foot shopping center located in Capitol Heights, roughly 10 miles from downtown Washington, D.C. David Crotts and Dean Zang of IPA represented the seller, a national investment management company, and procured the undisclosed buyer. The sales price was also not disclosed. Jared Cassidy of Marcus & Millichap Capital Corp. (MMCC) arranged the financing through an international bank on behalf of the buyer. International grocer New Grand Mart will replace the former Shoppers Food anchor at Coral Hills, which was built in 1988 on more than six acres. The property features a mix of inline tenants including national retailers, medical and professional service providers and casual dining concepts.

The post IPA Negotiates Sale of 85,514 SF Shopping Center Near D.C appeared first on REBusinessOnline.

NRP Group Debuts 115-Unit Affordable Housing Community in D.C.

Abby Cox — Mon, 28 Sep 2026 14:14:39 +0000

WASHINGTON, D.C. — The NRP Group, in partnership with Marshall Heights Community Development Organization (MHCDO), has opened Emblem Apartments, a 115-unit affordable housing community located in Washington, D.C.’s NoMa and Union Market neighborhoods. The 13-story building is reserved for individuals and families earning up to 30 and 50 percent of the area median income (AMI). Community amenities include a dedicated toddler playroom, oversized bike storage and a multipurpose room that serves as a hub for residential programming, events and gatherings. Residents will also have access to supportive services such as targeted financial education, entrepreneurship resources and economic mobility programming. Capital partners for Emblem Apartments include the DC Housing Finance Agency (DCHFA), DC Department of Housing and Community Development (DHCD), DC Housing Authority (DCHA), DC Green Bank and Bank of America. This project represents NRP’s first affordable housing development in Washington, D.C.

The post NRP Group Debuts 115-Unit Affordable Housing Community in D.C. appeared first on REBusinessOnline.

U.S. Economy Posts Strong Rebound in August, Adds 162,000 New Jobs

John Nelson — Fri, 04 Sep 2026 12:02:00 +0000

WASHINGTON, D.C. — The U.S. economy added 162,000 net new jobs in August and the unemployment rate was unchanged at 4.1 percent, according to the U.S. Bureau of Labor Statistics (BLS). The rise in total nonfarm employment was a strong rebound from the July figure, which the BLS revised upward from -23,000 to +21,000. Combined with an increase of 11,000 jobs in June, employment in June and July is 55,000 higher than previously reported. The August total more than triples what economists surveyed by Dow Jones expected for the month (+53,000), according to CNBC. Additionally, the August gains are more than five times the average monthly gain over the past 12 months (+31,000). Among employment sectors, the biggest gains were seen in food services and drinking places (+59,000) and local government education (+42,000). Other industries that experienced increases last month include construction (+22,000), manufacturing (+16,000) and healthcare (+13,000). Little change was seen in other major sectors including retail trade, transportation and warehousing, financial activities and professional and business services. The BLS also reported that 23,000 information jobs were lost in August, which continues the sector’s downward trend. The information sector, which comprises categories including broadcasting, content creation, data processing, web…

The post U.S. Economy Posts Strong Rebound in August, Adds 162,000 New Jobs appeared first on REBusinessOnline.

Sheppard Law Firm Signs 107,224 SF Office Lease in Downtown D.C.

John Nelson — Wed, 26 Aug 2026 14:08:18 +0000

WASHINGTON, D.C. — Sheppard, a law firm that employs more than 1,200 lawyers nationally, has signed a 107,224-square-foot lease at 2033 K Street, a trophy office redevelopment project in downtown Washington, D.C. Dimitri Hajimihalis, Emily Eppolito and Carroll Cavanagh of CBRE represented the landlord, In-Rel Properties, in the lease negotiations. Gary Stein, David Lipson, Jon Glass and Owen Jaccard of Savills represented Sheppard, which is an Am Law 50 firm, or a top 50 grossing law firm based off rankings by The American Lawyer. Sheppard is anchoring the office redevelopment, which is expected to deliver by July 2029, and will have building signage. In-Rel’s redevelopment will expand the existing building’s square footage horizontally and vertically, with three new floors and an occupiable penthouse level. The project team includes Hines (construction manager), Corgan (architect), Clear (interior build-out manager) and Studio Alliance (interior designer).

The post Sheppard Law Firm Signs 107,224 SF Office Lease in Downtown D.C. appeared first on REBusinessOnline.

HH Group Acquires 212-Bed Student Housing Property Near George Washington University

John Nelson — Tue, 18 Aug 2026 14:50:02 +0000

WASHINGTON, D.C. — HH Group has acquired Varsity on K, a 212-bed student housing development located near the George Washington University campus in Washington, D.C.’s West End neighborhood. The community offers 197 fully furnished units in studio through three-bedroom configurations. Shared amenities include a fitness center, resident lounge, demonstration kitchen, business center, game lounge, package lockers, private study and meeting rooms and an outdoor courtyard with dining areas, grilling stations and a fire pit. The seller and terms of the transaction were not released. The new ownership plans to begin a comprehensive repositioning program at the property, to include rebranding the community as Haven on K; refreshed common areas; the addition of expanded amenity offerings; and common area, security and building system upgrades. The community will be managed by HH Red Stone, the company’s vertically integrated property management arm.

The post HH Group Acquires 212-Bed Student Housing Property Near George Washington University appeared first on REBusinessOnline.

BLS: U.S. Economy Unexpectedly Loses 23,000 Jobs in July

Abby Cox — Mon, 10 Aug 2026 13:58:37 +0000

WASHINGTON, D.C. — Total nonfarm employment in the United States decreased by 23,000 jobs in July, according to the U.S. Bureau of Labor Statistics (BLS). Not only did July show an unexpected decline from the 83,000-figure forecasted by Dow Jones economists as reported by CNBC, but the BLS also revised both May and June’s job reports by a combined 103,000 jobs. The counts for May and June were +63,000 and +20,000, respectively. The unemployment rate simultaneously edged down to 4.1 percent — its lowest level since June 2025 — due mostly to another significant decline in the labor force. Among employment sectors, healthcare continued its upward trend with +22,000 jobs, but at a slower pace than the average monthly gain over the previous 12 months (+36,000). Within the sector, ambulatory services added 18,000 jobs. Retail trade lost 19,000 jobs in July as employment declined in warehouse clubs, supercenters and other general merchandise retailers (-21,000), as well as in gas stations and fuel dealers (-5,000). Many national media outlets are reporting that retailers are cutting costs and slowing down hiring due to wider economic pressures, like higher tariffs and inflation. However, sporting goods, hobby, musical instrument, book and miscellaneous retailers added 10,000…

The post BLS: U.S. Economy Unexpectedly Loses 23,000 Jobs in July appeared first on REBusinessOnline.

PRP Acquires 116,385 SF Office Tower in Downtown D.C.

Abby Cox — Fri, 07 Aug 2026 14:29:23 +0000

WASHINGTON, D.C. — PRP Real Assets has acquired 900 19th Street NW, a 116,385-square-foot office tower located in Washington D.C’s Central Business District, roughly three blocks west of the White House. According to the Washington Business Journal, the property sold for $30 million. The previous owner, Tishman Speyer, completed a base-building and aesthetic redevelopment of the property, which featured a full-height glass curtain wall replacement, lobby reconstruction, elevator modernization and the addition of a fitness center, tenant lounge, conference facility and rooftop terrace. Approximately 50,000 square feet is available for lease, according to PRP.

The post PRP Acquires 116,385 SF Office Tower in Downtown D.C. appeared first on REBusinessOnline.

Columbia Property Trust Signs 72,000 SF of Leases at Office Tower in Downtown D.C.

Abby Cox — Fri, 31 Jul 2026 12:44:29 +0000

WASHINGTON, D.C. — Columbia Property Trust has signed a mix of six office and restaurant leases at 1800 M Street, a recently repositioned, 565,000-square-foot office tower located in Washington, D.C.’s Central Business District. Totaling approximately 72,000 square feet, the deals include new arrivals, extensions, an expansion and two renewals. Boutique law firm Wilkinson Barker signed an eight-year extension for its 33,971-square-foot office; an unnamed communications and public affairs firm signed a 6,288-square-foot expansion and an eight-year extension, where its footprint will grow to 15,061 square feet; the Association of Women’s Health, Obstetric and Neonatal Nurses (AWHONN) signed a nine-year renewal for 9,574 square feet; and the American Academy of Family Physicians signed a new 10-year lease for 9,658 square feet to relocate its former office from the nearby 1133 Connecticut Avenue office building this fall. In addition to office tenants, Columbia has signed Sorn Thai (4,095 square feet) and Italian restaurant Sorella on the ground floor. Over the past two years, the landlord has secured more than 242,000 square feet in leases, bringing 1800 M Street to 83 percent occupied. Columbia also recently renovated the building’s conference facility, lounge, rooftop terrace, lobby and concourse level. Tenants were represented by agents…

The post Columbia Property Trust Signs 72,000 SF of Leases at Office Tower in Downtown D.C. appeared first on REBusinessOnline.

Garfield Investments, Broad Creek Capital Buy Office Building in D.C., Plan $10M Renovation

John Nelson — Thu, 30 Jul 2026 13:19:03 +0000

WASHINGTON, D.C. — A partnership between Garfield Investments and Broad Creek Capital has purchased 1667 K Street NW, a nearly 200,000-square-foot office building overlooking Farragut Square in Washington, D.C. The undisclosed seller sold the property to the partnership for $26.2 million. Andrew Weir of JLL brokered the transaction. The new ownership has selected Seth Benhard of JLL to lease the office building. JLL will also provide property management services. Garfield plans to invest approximately $10 million in capital improvements at 1667 K Street NW, which will includes installing an amenity floor on the top level.

The post Garfield Investments, Broad Creek Capital Buy Office Building in D.C., Plan $10M Renovation appeared first on REBusinessOnline.

Cushman & Wakefield Arranges $56.6M Refinancing of Luxury Multifamily Community in D.C.

Abby Cox — Fri, 17 Jul 2026 13:25:36 +0000

WASHINGTON, D.C. — Cushman & Wakefield has arranged a $56.6 million loan to refinance The Ellington, a 190-unit luxury multifamily property located at 1301 U St. in Washington, D.C. John Alascio, Alex Hernandez, Marshall Scallan, Meredith Crawford and Will Wohlgemuth of Cushman & Wakefield secured the financing through New York Life Investors on behalf of the borrower, an affiliate of Atlanta-based Jamestown LP. Spanning nine stories tall, The Ellington comprises a mix of one- and two-bedroom apartments. Amenities include a fitness center, yoga studio, recreation room, coworking lounge, rooftop dog park, pet wash station, landscaped rooftop terrace and bike storage, along with 192 parking spaces. The site also includes more than 16,000 square feet of retail space, which is currently 93 percent leased to tenants including Street Markets, Roaming Rooster, 354 Restaurant and Eatopia Eatery. Since acquiring the property in 2018, Jamestown has invested more than $10.7 million in capital improvements, including upgrades to unit interiors, common areas and building systems.

The post Cushman & Wakefield Arranges $56.6M Refinancing of Luxury Multifamily Community in D.C. appeared first on REBusinessOnline.