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 by Tierney Plumb, Reporter UDR Inc., a Denver-based publicly traded apartment owner with 16 properties in the area, closed on the sale of View 14 on 14th Street NW in D.C., shattering the record for the highest price per foot ever achieved in the metro region for Class A rental product. The building sale, which was first reported in the Washington Business Journal in April, traded for $104 million, or about $670 a square foot for the 155,000-square-foot property.  Borderstran
by Tom Hay After a three-year lull, condo and apartment development along 14th Street — from Logan Circle to the blocks north of U Street — has blossomed at a frantic pace. (See list of related stories at bottom.) Work is well underway at several sites and many and others are slated for groundbreaking soon. Most properties will be considered mixed-use, usually in the form of ground floor retail and residential units above.  by Missy Frederick, Reporter
Level 2 Development LLC has snagged two tenants to occupy a major portion of the retail space at the View 14 mixed-use complex. The YWCA National Capital Area will occupy 15,000 square feet at the 2303 14th St. NW project. Cushman & Wakefield Inc.. brokered the deal for both parties. Beta Academy, which hosts martial arts classes, has signed a lease for 9,000 square feet on the lower level. Cushman & Wakefield represented Level 2 in the deal, while Thur & Associates worked with Beta.  GoDanRiver.com
by Denice Thibodeau By this time next year, the Ferrell Building — the crumbling, boarded up structure at 533 Main St. in the heart of downtown Danville — will be completely remodeled and ready for occupants in its apartments and commercial spaces. One of its new owners, Patrick Reilly, also promised the unattractive, wooden walkway in front of the building will be gone by May 31. Reilly, project manager/principal with Rehab Development in Winston-Salem, N.C., said principals from his company partnered with Level 2 Development, in Washington D.C., to bring the project together and form Ferrell Historic Lofts LLC. The deal was closed Dec. 28, and Reilly said this project would be moving quickly. “We got the stabilization permits today (Jan. 6) and workers will be on it within 10 days,” Reilly said. |