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 →
Floor Area Ratio (FAR) is the ratio of a building’s total floor area (or a building’s total possible floor area) to the size of the lot upon which the structure is built. FAR limits are usually a part of local … Continue reading →
Brookfield Property Partners is the most recent spin-off company from Toronto-based Brookfield Asset Management. Trading on the New York Stock Exchange as BPY, the new company’s portfolio includes 300 office and retail buildings, totaling over 250 million square Dosage The most recommended … 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 →
Google plans to establish its new UK headquarters in London’s up-and-coming King’s Cross district. According to Reuters, the company purchased a 2.4-acre plot at the King’s Cross Central development where it will build its 1msf office building ranging in height … 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 →
On December 11, Neyer Properties purchased two downtown Cincinnati Class A office buildings (Centennial Plaza I & III) in auction for $3.5 million, according to Commercial Property Executive. The seller, New Boston Centennial, paid $13 million for the properties in 1999. Centennial … Continue reading →
Hudson Yards is a mixed-use development in Manhattan’s West Side. The 26-acre site for the project is the single largest piece of undeveloped property in Manhattan. It will include office, retail, multi-family and cultural centers. Related Companies (owner of Equinox … 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 →