Two emerging corridors, H Street NE and Route 1 in Prince George’s County, will welcome their first Whole Foods this spring. Even before the popular grocer opens, both neighborhoods are already benefiting from “the Whole Foods effect.” Bisnow: Jon Banister Whole Foods’ ground-floor space at The Apollo on H Street In addition to the buzz Whole Foods creates around a neighborhood, studies have shown properties near the grocer grow more rapidly in value than average homes. The DC-area neighborhoods welcoming a Whole Foods this spring are already experiencing increased housing demand and rate premiums, according to landlords, brokers and residents.
Huge outdoors outfitter Cabela’s Inc. (NYSE: CAB) has landed in the D.C. region, with an 80,000-square-foot store set to open in Gainesville March 9.
It’s the first local outpost for Cabela’s, a Nebraska-based outdoors retailer that has been growing its presence on the East Coast in recent years.
The store, located at 5291 Wellington Branch Drive at the Virginia Gateway shopping center, wasn’t always a sure thing, however. Back in 2015, Cabela’s removed Gainesville from its list of 2016 store openings, only to shift gears and redouble its commitment to the site two months later.
Pennsylvania Real Estate Investment Trust (NYSE: PEI) expects the $25 million renovation of its Mall at Prince Georges to bring the Hyattsville shopping center up to nearly Springfield Town Center levels of sales.
PREIT CEO Joe Coradino — who also just became chairman of the board — told investors on an earnings call Friday that the company believes Mall at Prince Georges could become “our next $500 per square foot asset” in terms of annual sales.
That would put it only a little bit behind Springfield Town Center, which was pulling in $529 per square foot at the end of January, according to a PREIT spokeswoman. PREIT bought the still under-renovation Northern Virginia center from Vornado in 2014 for $465 million.
Famed for their quickly made, highly customizable vehicles, Local Motors set the world ablaze by manufacturing road-ready 3D-printed cars, and their new facility at the National Harbor will use a printer to demonstrate how the world’s first 3D-printed car will be made..
The 20k SF, interior fit-out project will also be used to showcase the company’s high-performance off-road vehicles, vintage racing motorcycles and motorized bike and drift trikes. For Bisnow partner L.F. Jennings’ Jeff Black, the state-of-the-art renovation was a way to show that they can build anything—yes, anything—not just the suburban office interiors and shopping centers the company is known for.
Multifamily in DC is riding high, and Bisnow partner L.F. Jennings is showing its prowess and adaptability with Kettler and R2L Architects’ new market-rate rental apartment project in Adams-Morgan.
Located on the corner of Florida Avenue and Champlain Street, the building consists of four levels of wood-framed apartments over a two-level podium that has additional apartments, amenity space and a 46-space parking garage.
