DC Mayor Vincent C. Gray vetoed the Large Retailer Accountability Act of 2013. In a letter to DC Council Chairman Phil Mendelson, the Mayor cited six “fundamental misunderstandings” about the effects of this legislation: The bill is not a true living-wage … Continue reading →
Wal-Mart will abandon plans to build three new stores in DC and it will review the financial and legal implications of not opening three others that are currently under construction if the city implements the “living wage” legislation. This “living … Continue reading →
Commercial real estate lending in Maryland fell by 0.15 percent in 2012, according to the Baltimore Business Journal. CRE lending on a national scale increased by 0.94 percent during Q4 2012. The largest increase in lending (7.38 percent) was among … Continue reading →
The DC Office of Zoning has approved plans to build a boutique hotel in the Adams Morgan district of the city. The historic First Church of Christ Scientist building will be incorporated into the 227-room hotel which will also claim … Continue reading →
Fairfax County, Virginia has proposed an increase of 1.5 cents in the commercial and industrial (C&I) tax rate. If approved commercial and industrial property owners will pay $1.22 per $100 of assessed value, according to The Washington Business Journal. The … Continue reading →
Boston Properties plans to demolish the NPR headquarters building at 635 Massachusetts Avenue NW in Washington this spring to make way for a new 480,000sf, 11-story building. Arnold and Porter LLP recently signed a 20-year lease taking 375,000sf of the … Continue reading →
The Navy Annex in Arlington County, Virginia is being torn town and the 42-acre site on which it stands will become part of Arlington National Cemetery, according to The Washington Post. Built in 1941 as temporary warehouse facility, the annex … Continue reading →
Industry practitioners discussed Washington’s retail market yesterday at Bisnow’s Retail Real Estate Summit. Jessica Bruner of Edens noted that the Millennial Generation is demanding a higher level of sophistication for retail located in the office buildings where they work and … Continue reading →
Crowdfunding is a process by which a company or developer will fund a project by selling small amounts of equity to many investors. In commercial real estate, crowdfunding can help to fund the urban infill projects that are often not … Continue reading →
The Hyatt Regency will fill in the hotel component of a new mixed-use development at Tysons Corner Center, located about 10 miles west of Washington, DC. The 17-floor, 300-room hotel will open in 2014 and will offer almost 16,000sf of … Continue reading →