[RP TownTalk] Fwd: Foggy Bottom Game Changer
Jeffrey Yorke
yorkedial at gmail.com
Thu Sep 8 03:59:07 UTC 2011
The Whole Foods in Foggy Bottom (and its effect) in today's Bisnow is
insightful as Riverdale Park weighs its options ...
**
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September 7, 2011
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FOGGY BOTTOM
GAME CHANGER
------------------------------
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*
------------------------------
Sure, the area may have a distinguished *university*, multiple federal
agencies, six new *restaurants*, and a glistening new *2200 Penn* mixed-use
complex (which you old-timers may remember as Square 54). But probably there
are some who feel the area never really arrived until *yesterday*, when *Whole
Foods* opened. [image: 2200 Penn Whole Foods, Foggy Bottom, on Sept. 6,
2011] We heard this place was popular, but we weren't expecting lines *around
the block*. The community repeatedly demanded a large grocer and Whole Foods
in particular during outreach meetings, Boston Properties' *Rich
Ellis*tells us, and it'll also serve
*GWU*. Students can use their GW debit cards at the store, and GWU
operations SVP* Alicia O'Neil* says it's an important component of the
amenities that have transformed the Metro entrance to the campus. Now we
look forward to working escalators to get you out of that Metro and into
your organic sushi. (That one's for the Foggy Bottom locals.) [image:
Washington Gas Mini]<http://click.icptrack.com/icp/relay.php?r=11660198&msgid=215684&act=ONPU&c=215721&destination=http%3A%2F%2Fd.bisnow.com%2Fck.php%3Fbannerid%3D1764>
[image:
Caroline Kruger, Simon Bustow, Donovan Morris, and Rich Ellis at 2200 Penn
Whole Foods, Foggy Bottom, on Sept. 6, 2011] We snapped Rich (far right)
with colleagues *Caroline Kruger* and *Simon Bustow* and Whole Foods store
leader *Donovan Morris*. Whole Foods Mid-Atlantic (and camera-shy) prez *Ken
Meyer* tells us DC is among the company's top markets, with slightly less
capacity than NY. Why? *Density* and *demographics*, which provide critical
mass to move forward with new locations. It's Whole Foods' third District
location (giving it the same number of DC stores as rival Harris Teeter).
[image: Porcelanosa 2
Mini]<http://click.icptrack.com/icp/relay.php?r=11660198&msgid=215684&act=ONPU&c=215721&destination=http%3A%2F%2Fd.bisnow.com%2Fck.php%3Fbannerid%3D1810>
[image:
2200 Penn Whole Foods and Residences on The Avenue, Foggy Bottom, on Sept.
6, 2011] Here's Archstone's 359-unit *Residences on The Avenue*, directly
above the store. Rich says leasing there is going exceptionally well at over
35 units/month. What a nice birthday present for BP local head *Ray Ritchey*.
(And you thought we forgot what today is!) [image: Crystal BID
(Vintage) Min]<http://click.icptrack.com/icp/relay.php?r=11660198&msgid=215684&act=ONPU&c=215721&destination=http%3A%2F%2Fd.bisnow.com%2Fck.php%3Fbannerid%3D3438>
[image:
Sarah at 2200 Penn Whole Foods, Foggy Bottom, on Sept. 6, 2011] The store
features Whole Foods' first-ever *ordering kiosk* for prepared foods, which
team member *Sarah* was kind enough to demonstrate. *Prepared foods* are
becoming one of the grocer's biggest businesses (none of you white collar
workaholics seem to cook anymore), Ken says, and the kiosk allows shoppers
to customize orders at the store. Soon it'll be available as an *iPhone app*.
(Next: a microchip in your brain.)
------------------------------
[image: Bisnow] $145.5M ROSSLYN OFFICE SALE [image: Jud Ryan, Bill
Collins and Drew Flood] It's been a *busy week* for Cassidy Turley's
investment sales team, which explains why *Jud Ryan* (flanked by *Bill
Collins* and *Drew Flood*) is holding a PowerBar. They represented WRIT on
the industrial sale we reported on *yesterday*, as well as brokering the
$145.5M sale of 1616 N Fort Myer Drive from a Beacon Capital Partners
affiliate to TIAA-CREF. Bill tells us the deal signifies hot demand along
the *Rosslyn waterfront*, where great views, tight supply, along with rising
rents are driving investor interest.
------------------------------
[image: Bisnow] REZNICK TAPS NEW TAX DIRECTOR [image: Joseph
Mudd] Somebody
call the interior designer! Last week, *Joseph Mudd* joined Reznick Group
(our *sponsor*)—a top 20 national CPA firm—as the new national director of
tax. (Don’t blame him for the sparse digs, he’s just settling in.) Formerly
of The Specialty Tax Services Group in New York (where he was partner and
managing director), Joe is now in charge of *expanding* the capabilities,
reach, and knowledge base of Reznick Group's national tax practice. Reznick
Group CEO *Ken Baggett* says Joe’s *reputation* as the go-to guy for
international and domestic tax advisory and compliance services precedes him
and the company is excited to have him on the team. *Learn more* about
Reznick Group (and send Joe some lovely office design suggestions … like
neon hues!) *here*<http://click.icptrack.com/icp/relay.php?r=11660198&msgid=215684&act=ONPU&c=215721&destination=http%3A%2F%2Fwww.reznickgroup.com>.
------------------------------
[image: Bisnow] LAST NIGHT WITH WALKER & DUNLOP [image: Walker &
Dunlop's back-to-school cocktail reception on Sept. 6, 2011, H Street, DC] We
snapped this* last night* at an elegant H Street venue of Walker & Dunlop’s
annual back-to-school cocktail reception for 285 clients, friends, and
worthy chandeliers. Despite the vagaries of the stock market, public reports
indicate *loan originations and revenues* spiked higher for the firm in the
last quarter so there was much to be thankful for despite the *rain*.
[image:
Jim Butz and Greg Lamb on Sept. 6, 2011] Among the guests: Jefferson
Aparment Group’s *Jim Butz* and *Greg Lamb*, who ran the Eastern division of
JPI until 2009, when they bought it. They and their *multifamily focus* seem
to be going strong: They’re building (with Perseus) 250 units at *14th and W
*, delivering in Q2 next year; 231 units with AEW in West Chester near
Philly, delivering next month; 200 units with Starwood in Arlington near
Boston starting in December; and with a private family just starting
construction on 254 units at the Tellus project near the Courthouse Metro.
[image: Ian Kelly, Glenn Turner, and Albert Turner on H Street, DC, on
Sept. 6, 2011] Outside we ran into legendary *Albert Turner*, right (with
colleagues *Ian Kelly* and *Glenn Turner*), who started building houses at
age 21 *before World War II*. He’s been instrumental in Prince George’s
County in the development of Calverton, Kettering, New Carrollton, and
Hollywood (in College Park). And he’s still active, even now putting
finishing touches on a 600k SF center in *Largo*.
------------------------------
[image: Bisnow] NPS RENEWS IN PRINCE GEORGE'S [image: Bill Craig] GSA
recently announced the *National Park Service* is renewing its 52k SF lease
at the Washington Commerce Center in *Landover*. JLL's *Reva Squire* and *Bill
Craig* (above) repped GSA, with Transwestern's *Brian Watts* repping
landlord Washington Properties. Before you question why NPS would need such
a building for a few picnic baskets, Bill tells us the facility's *
museum-quality* HVAC drove GSA's decision to renew: the building is used to
store *historic* items. According to NPS' website, that includes mementos
left at the Vietnam Veterans Memorial. What was the last concert you
saw? Tell mike.leon at bisnow.com. **
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Jeffrey Yorke
Yorke Property Management, Inc.
Yorke Partners
Jeffrey at YorkeRents.com
301-502-1243
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