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DC Commercial Real Estate News

  • D.C. Apartments Next to Nats Park Should Hit $162 Million Sales Price October 16, 2018, 8:07:26 AM | John Doherty <news@costar.com>

    Rendering of the F1rst Residences (glass building in the foreground), which is now on the market for sale.A new downtown Washington apartment building with commanding views of Nationals Park and the Southeast waterfront is up for grabs, and it could command the highest sales price this year for a multifamily community in the nation's capital. The developers of F1rst Residences, at 1263 First Street SE, have hired Eastdil Secured's team led by Alan...

  • Residential Brokerage Firm Redfin Signs for New 20,000-SF Office in Chantilly, Virginia October 16, 2018, 12:57:06 PM | Alexis Vouros <news@costar.com>

    Redfin Corporation, a residential real estate brokerage firm out of Seattle, has signed a lease for a new East Coast office in suburban Washington, D.C. The company agreed to a deal for 20,358 square feet at Newbrook II, a 77,427-square-foot, four-story office building located within the Westfields Corporate Center in Chantilly, Virginia. Spatium Management developed the property at 14155 Newbrook Dr. in 2000, and the building is currently anchored...

  • Hotel Asset Manager CHMWarnick Recruits Second Exec from Host Hotels & Resorts to New DC Office October 15, 2018, 4:19:29 AM | John Semaie <news@costar.com>

    CHMWarnick has hired longtime hotel industry veteran Joe DeFrank as senior vice president and asset manager in the firm's newly established office in Washington, D.C., the second hire brought over from Bethesda, Maryland-based hotel REIT, Host Hotels & Resorts, in the last two weeks. In his new role, DeFrank will look to help drive the hotel asset management and owner advisory services provider's expansion in the Mid-Atlantic region. CHMWarnick...

  • Federal 'Opportunity Zone' Investment Rules May Come This Month as Cost Estimates Rise October 15, 2018, 10:00:34 AM | Mark Heschmeyer <news@costar.com>

    Projects like the proposed Colorado Outdoors Recreation Business Park in Montrose, Colorado, are in areas covered by the federal Opportunity Zone program that may get final guidelines this month. Final guidelines may come this month from the federal government that could open tens of billions of dollars of new commercial real estate investment in economically distressed areas as cost estimates for the program rise. The U.S. Department of Treasury...

  • National Law Firm to Move D.C. Practice to The Wharf in Southwest Washington October 12, 2018, 4:40:36 AM | Jacqueline Spross <news@costar.com>

    Michael Best & Friedrich LLP has signed a lease to relocate its Washington, D.C., offices to an expanded location in The Wharf that will allow the firm to bring its legal practice as well as its government relations and public affairs consulting group, Michael Best Strategies, under one roof. The Milwaukee-based law firm, which employs more than 275 lawyers nationally, will consolidate its two local offices at 601 and 801 Pennsylvania Ave. in...

  • Long Viewed as an Affordable Alternative to D.C., Silver Spring Continues its Strong Appeal for Renters and Developers October 12, 2018, 2:41:22 AM | Nicholas Mills <news@costar.com>

    The 292-unit Cove apartment building in Silver Spring, Maryland. Few communities in the D.C. metropolitan area have undergone a more dramatic transformation this cycle than Silver Spring, which appeals to apartment renters because of its three metro stations and proximity to major employment centers throughout the region. Even the departure of longtime corporate mainstay and cable network Discovery for New York City didn't faze multifamily builders...

  • Coworking Provider Industrious Enters Unique Management Partnership with Rubenstein at Carlyle Tower October 11, 2018, 10:08:46 AM | Bryce Meyers <news@costar.com>

    Coworking space provider Industrious, in one of the first agreements of its kind, has launched a new partnership with Philadelphia-based fund manager Rubenstein Partners to bring its hospitality-driven flexible workspace to Rubenstein's Carlyle Tower project located just outside the nation's capital in Alexandria, Virginia. The partnership operates as a management agreement, where Rubenstein would own and develop the space in the company?s 14-story...

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