December 4, 2017

Peace Corps To Move To 173K SF In NoMa

NoMa has lured another federal agency away from D.C.'s more established office submarkets.  The General Services Administration announced Monday it signed a 173K SF lease to relocate the Peace Corps to NoMa's One Constitution Square. The agency plans to move from 1111 20th St. NW in 2019. Its new home will be renamed the Paul D. Coverdell Peace Corps Headquarters, after a former U.S. senator and Peace Corps director. "The new, modern headquarters will enhance our agency's efficiency and productivity," Peace Corps CEO Sheila Crowley said. "The move to a green, thoughtfully configured space will allow our dedicated staff to better serve the public and fulfill the Peace Corps' mission of promoting world peace and friendship." StonebridgeCarras, in partnership with Walton Street Capital, developed the 350K SF office building at 1275 First St. NE in 2010, part of Constitution Square's first phase.   ...READ MORE

November 14, 2017

StonebridgeCarras Announces Wegmans Anchor Lease for Hoffman Town Center Project

The city of Alexandria is the latest to be graced with grocery favorite Wegmans: The chain will open an 84,000-square-foot store at Hoffman Town Center on the Eisenhower Avenue corridor.  The news confirms what WBJ first reported in May, that Wegmans was in talks to anchor StonebridgeCarras' 1 million-square-foot mixed-use project on 5 acres inside Hoffman Town Center. Wegmans’ entrance would be located on the corner of Stovall and Mandeville streets.  “Our pitch was, you can’t find a site with this combination of urban density, Metro access and regional road network,” said StonebridgeCarras CEO Doug Firstenberg. “For retail it’s phenomenal.”  Stonebridge expects to begin construction in early 2019 and deliver the first components in 2021. In the meantime, it’ll work on leasing up the rest of the retail space. Sam Hodges and Dimitri Georgelakos are representing Stonebridge in the retail leasing. Hodges also represented Wegmans in that lease deal.  ...READ MORE

November 9, 2017

StonebridgeCarras Expects to Begin Construction on 500,000 SF Development in 2019

Downtown Bethesda will get an AC Hotel, the buzzy hotel brand from Marriott International (NASDAQ: MAR), when StonebridgeCarras and its hotel partner, OTO Development, open a new mixed-use project at 7373 Wisconsin Ave. in 2021.  StonebridgeCarras expects to begin construction on the 500,000-square-foot development, which includes a 390,000-square-foot trophy office building, in 2019. The 219-room AC Hotel will be located on the corner of Wisconsin and Montgomery avenues, with the hotel’s ground-floor lounge spilling out onto a public plaza.  OTO Development is a hotel developer and manager that has worked with Stonebridge in the past. The two partnered on the Constitution Square development in NoMa that includes a Hilton Garden Inn. Buvermo Investments Inc., a Bethesda-based real estate investment firm, is also a partner on the Bethesda project. ...READ MORE

September 27, 2017

StonebridgeCarras Sets Stage for its $300M Bethesda Tower

StonebridgeCarras has set an ambitious timeline for its $300 million redevelopment of a prime corner in Bethesda, where it intends to build one of the area's tallest buildings. In a recently filed statement of justification for the 7359 Wisconsin Ave. project, Bethesda-based StonebridgeCarras said it expects a Montgomery Planning Board public hearing in January, to begin demolition of the three existing buildings at the site in the third quarter of 2018, and to deliver the project in early 2021. It’s an aggressive entitlement schedule, the statement says, in order to meet market conditions. The project involves the construction of a 250-foot-tall office and hotel project on the site of what is now Montgomery County’s Second District Police Station and several other low-rise buildings. ...READ MORE

August 28, 2017

StonebrigeCarras Announces Plans for $300M Bethesda Office and Hotel Project

StonebridgeCarras and Buvermo Investments, Inc. announced today their plans for the project at 7359 Wisconsin Avenue will include a 390,000 square foot office building and a 225 key hotel.  They have also announced that for the trophy office and hotel project: The Jones Lang LaSalle team of Trip Howell, Amy Bowser and Bernie McCarthy has been selected as the leasing agents for the office project. Pickard Chliton of New Haven, Connecticut has been retained as the Design Architect and Cooper Carry Associates has been selected as the architect of record for the project. ...READ MORE