District of Columbia

CAS Riegler Completes Apartment Community in D.C.’s Logan Circle Neighborhood

by John Nelson November 17, 2015

WASHINGTON, D.C. — CAS Riegler Cos. has completed construction on HOLM, a 38-unit luxury apartment community located at 1550 11th St. N.W. in Washington, D.C.’s Logan Circle neighborhood. The four-story property includes a rooftop deck, approximately 3,000 square feet of street-level retail space, catering kitchen, below-grade parking garage, private courtyard and bike storage. This new apartment community is pet-friendly and is situated right across the street from Shaw Dog Park and four blocks for a Metrorail station. Monthly rental prices start at $2,250 for one-bedroom apartments and $3,200 for two-bedroom units; penthouse apartments range from $4,200 for a one-bedroom unit to more than $7,500 for a three-bedroom residence.

November 17, 2015

District of Columbia Retail Southeast

Marcus & Millichap Brokers $3.5M Sale of 7-Eleven in Historic Georgetown District

by John Nelson November 16, 2015

WASHINGTON, D.C. — Marcus & Millichap has brokered the sale of a 3,911-square-foot 7-Eleven store located at 1340 and 1344 Wisconsin Ave. in Washington, D.C.’s historic Georgetown neighborhood. Marty Zupancic, Dean Zang and Christian Barreiro of Marcus & Millichap’s Washington, D.C., office represented the seller, a local family estate that has owned the property since 1928. Zang and Josh Ein of Marcus & Millichap’s TZD Retail Team secured and represented the buyer, a local, privately held investment manager. 7-Eleven has roughly eight years remaining on its lease.

November 16, 2015

District of Columbia Hospitality Southeast

Marcus & Millichap Arranges Sale of Hotel in Washington D.C. Area

by Haisten Willis November 4, 2015

HARPERS FERRY, W.VA. — Marcus & Millichap has arranged the sale of the Quality Hotel and Conference Center, a 100-room hotel located in Harpers Ferry, W.Va. The asset sold for $2.95 million or $29,500 per room. Karianne J. Cibello and Gordon Allred of Marcus & Millichap marketed the hotel along with two retail buildings on nearly 14 acres. Cibello and Allred also secured the buyer, a local business owner who plans to upgrade the property. Ralph Nash served as the broker of record for the transaction. Located at 4328 William L. Wilson Freeway, the Quality Hotel & Conference Center is next to River Riders family adventure resort and one mile from the Hollywood Casino at Charles Town.

November 4, 2015

District of Columbia Hospitality Mixed-Use Multifamily Southeast

Lima Hotels to Develop Mixed-Use Project in Downtown D.C.

by Haisten Willis October 26, 2015

WASHINGTON, D.C. — Lima Hotels, a new company established by developer Habte Sequar, plans to develop a 14-story hotel and apartment building in downtown Washington, D.C. The high-rise property will be located at 317 K St. N.W. at the corner of 4th and K streets in the Mount Vernon Triangle neighborhood in Washington’s East End district. A small commercial building and auto body shop on the site will be demolished. The project will feature 200 hotel rooms on the first 11 floors and 30 apartment units on floors 12 through 14. Lima Hotels has selected PGN Architects and Gordon & Greenberg to co-design the project.

October 26, 2015

District of Columbia Retail Southeast

Marcus & Millichap Brokers $3.2M Sale of Vacant Retail Property in D.C.

by John Nelson October 15, 2015

WASHINGTON, D.C. — Marcus & Millichap has brokered the $3.2 million sale of a 5,440-square-foot vacant retail property located at 1301 H St. N.E. in Washington, D.C. The property, formerly St. John’s Church of God, sold for $2.2 million in 2013. Josh Feldman and Ben Wilson of the Feldman Group, part of Marcus & Millichap’s Washington, D.C., office, represented the seller, a group of attorneys, in the transaction. Feldman and Wilson also procured the buyer, a developer that cited interest in the H Street corridor as the reasoning behind the purchase. The developer plans to raze the property and develop a four-story, mixed-use condominium building with ground-floor retail space at the site. The property is a block from the H Street Country Club, Rock and Roll Hotel and Biergarten Haus.

October 15, 2015

1101 and 1111 16th St. N.W. Washington DC

District of Columbia Office Southeast

Akridge, Stars Investments to Convert Two Properties in D.C. into One Trophy Office Building

by John Nelson September 18, 2015

WASHINGTON, D.C. — Akridge and its partner, Stars Investments, plan to redevelop 1101 and 1111 16th St. N.W. into one freestanding, 100,000-square-foot trophy office building. One block away from the new Fannie Mae headquarters and within view of the White House, the new property will feature a fitness center, rooftop terrace and parking. Akridge recently purchased the two assets from the American Beverage Association and the American Association of University Women. Eric Berkman, Steve Gichner and John Boland of Cushman & Wakefield brokered the transaction on behalf of the sellers. The new 1101 16th Street building will deliver in 2017.

September 18, 2015

District of Columbia Mixed-Use Southeast

High Street Residential to Develop Mixed-Use Project in D.C.

by John Nelson September 14, 2015

WASHINGTON, D.C. — High Street Residential, the multifamily subsidiary of Trammell Crow Co., and its joint venture equity partner have teamed up with Central Armature Works (CAW) to redevelop an existing CAW electrical repair and supply warehouse at 1200 3rd St. N.E. in Washington, D.C. High Street Residential plans to transform the 2.5-acre parcel in Washington’s NoMa neighborhood into an apartment building, condominium building, outdoor public space, street-level retail and a hotel. The transit-oriented project will be located directly adjacent to the NoMa Metro station. HFF represented CAW in the land sale.

September 14, 2015

Holiday Inn Express & Suites 1917 Bladensburg Road

District of Columbia Hospitality Loans Southeast

HFF Arranges $36.2M Financing for Two Hotels in D.C.

by John Nelson September 14, 2015

WASHINGTON, D.C. — HFF has arranged two loans totaling $36.2 million for the Holiday Inn Express & Suites and Fairfield Inn & Suites in Washington, D.C. The two adjacent hotels each have 126 guest rooms and feature a breakfast area, lobby, fitness center, swimming pool, business center and between 600 and 800 square feet of meeting space. The Holiday Inn Express & Suites (1917 Bladensburg Road) and the Fairfield Inn & Suites (2305 New York Ave. N.E.) share 251 parking spaces on approximately 3.6 acres at the intersection of Bladensburg Road and New York Avenue. Mark Remington of HFF arranged the $19.3 million loan for Holiday Inn Express & Suites and the $16.9 million loan for Fairfield inn & Suites through Burke & Herbert Bank on behalf of the borrower, Rocks Engineering Co. The fixed-rate loans each have a term of 10 years.

September 14, 2015

1750 Pennsylvania Avenue NW Washington D.C.

District of Columbia Office Southeast

John Hancock Acquires 13-Story Office Building in D.C. for $182M

by John Nelson September 10, 2015

WASHINGTON, D.C. — John Hancock Real Estate has acquired 1750 Pennsylvania Avenue NW, a 13-story, Class A office building located in Washington, D.C.’s central business district, for $182 million. The 278,916-square-foot office building was 97 percent leased at the time of sale. The LEED Gold-certified property underwent renovations in 2001 and 2014. The property is located between the White House one block to the east and the World Bank headquarters one block to the west. John Hancock is the U.S. division of Manulife Financial Corp., one of the largest life insurance companies in the world.

September 10, 2015

District of Columbia Loans Multifamily Southeast

HFF Arranges $32M Loan for New Multifamily Community in D.C.

by John Nelson September 8, 2015

WASHINGTON, D.C. — HFF has arranged $32 million in financing for Kennedy Row, a newly built, 141-unit apartment community located in Washington, D.C.’s Capitol Hill neighborhood. The Class A property is located at 1717 E. Capitol St. S.E. across the street from Eastern Senior High School. Built in 2013, the property features a rooftop terrace, an on-site fitness center, pet cleaning station, bike storage and underground parking. The asset was 94 percent occupied at the time of financing. Michael Gigliotti, Sue Carras, Walter Coker and Brian Crivella of HFF arranged the seven-year, floating-rate loan through HSBC Bank on behalf of the borrower, a joint venture between TRITEC Real Estate Co. and The JBG Cos. The loan proceeds were used to refinance existing construction debt on the property.

September 8, 2015

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