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May 20, 2010
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BRAC BOOM (2)
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| Is multi-family hot or what (see stories below)? Come join us for a star-studded Bisnow Breakfast & Schmooze on that very subject, this Tuesday at the Ritz Carlton Tysons. Sign up now! |
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| Ah, the fine aroma of recovery. Ok, maybe just the fragrance of Ft. Belvoir as base realignment kicks in. But you know what, we’ll take it. As we wrote last week about ING’s properties, the Springfield area is getting popular. Newest case in point: |
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| Corporate Office Properties Trust yesterday said it’s going to build a million feet of new construction for a business park at 15-acre Patriot Ridge there, starting with a 240k SF first building the last quarter of this year. All to take advantage of nearly 20k new workers and contractors expected at Ft. Belvoir—not to mention the multiplier effect of families and services that come with them. |
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| THE NEW "CUSH MAN" |
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| Former Cushman & Wakefield CEO Bruce Mosler is now the firm’s chairman, and its new CEO, Glenn Rufrano, paid his first visit to a DC audience Tuesday night, where we snapped him above speaking to over 100 owners and investors. We will let you circumstantially infer from the picture where the event took place, but we will tell you that his subject was "game changers" that might affect the investment climate over the next 24 months. A sign of recovery: Vacancies are being referred to again as "opportunities," and a lack of overbuilding (i.e., the cause of crisis this time was financial) means 2011-'13 should be good for development. |
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| MULTIFAMILY KEEPS HEATING UP |
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| With money in its hands and eager to invest in East Coast multifamily, Boston-based Berkshire Group has recently expanded to NYC to focus on Tri-State, DC, and the Carolinas, where it plans to spend up to $150M over the next 12 to 18 months. Our NY reporter Amanda Marsh dropped in to meet with Nate Daly, who heads up the new office and tells her the firm already owns 15k units along the seaboard, primarily concentrated in ‘60s to ‘70s vintage properties in suburban DC, but feels that now’s the time to penetrate the market and acquire more modern assets. Its sweet spot: 3-4 story garden apartments outside the Beltwa. But it will also look at mid- and high-rise assets inside the Beltway in markets like RB, Montgomery County, and Alexandria, he says. Now that we've gotten you excited about multifamily, come join us Tuesday at the Ritz Carlton Tysons to learn more about opportunities in that sector: Sign up now! |
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| MEET OUR SPONSOR: URBAN IGLOO |
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| With more than a year under its belt and a new retail office, “Urban Igloo is here to stay,” says marketing guru Debbie Kaplan, here with founder Rick Gersten and several Urban Igloo leasing agents. (Gives new meaning to the phrase, "So easy, a baby could do it.") The apartment finder’s numbers speak for themselves: Over 10,000 website hits per month, 50 inquiries a day, and a growing number of landlords who realize the value of having vetted, qualified renters brought to their door. Plus, landlords only pay if a renter moves in, Rick tells us, making it a low-risk, high-reward arrangement. |
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| Urban Igloo seems to share an interior decorator with many a bachelor pad. (Truth be told, they've been so busy placing renters, they haven't had time to decorate the walls of its new office.) The new digs at 1808 Eye across from the Farragut West Metro have led to a lot of foot traffic, including those who want to know just what an Urban Igloo is. Moving forward, the company is seeking agents passionate about real estate and sales. And Rick tells us a second office, maybe in northern Virginia, could spring up within the year. Landlords, renters (and perhaps future employees), find info here. |
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| BISNOW NOVA SCHMOOZE! |
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| Thanks to the 300 or more of you who came to our first Alexandria Schmoozarama at the fun Carlyle Club near Old Town Tuesday. We’re impressed with the energy Alexandria Chamber of Commerce prez Tina Leone, above, is bringing to the job. She originally suggested we take our show on the road there, and at least 75 of her members were on hand. Many others, of course, came from close by, but we also found folks we identify with other geographies, like DCBIA prez Merrick Malone, above, perhaps getting psyched up for his own big event tonight (its annual awards at the Washington Hilton). |
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| Our great sponsor Oblon, Spivak—a 100-lawyer powerhouse boutique, specializing in intellectual property, not surprisingly located in the shadow of the PTO—repped by Jeffrey Molinoff, Jonathan Hudis, Chris Donahue, Kathleen Cooney-Porter, David Aleskow, Jeff Kaufman, Robin Bren, and Jordan Weinstein. Trademark and copyright practice group chair Jeff (Kaufman) tells us the firm’s business-oriented approach to problem-solving allows it to successfully represent every business sector. |
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| Christina Diederich, Alyssa Travers, and Daniel Oh from sponsor Reston Limousine. GM Tony Simon tells us the trio had a great time mingling with existing clients and some new ones, “because everybody needs a ride, especially after a party like that.” (Did we mention the open bar?) |
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| CPSR’s Tom Ouska, Fox Architect’s Megan Kindle, J Street Companies’ (and, yes, Bisnow vet) Sam Sanders, and Long & Foster Commercial's Susan Kann. |
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| Andrew Palmieri of Vorys law firm (and an active Alexandria resident) tells us that as of August he’ll be Chair-Elect of the ABA Section of Real Property Trust and Estate Law, following one year behind the current Chair, our friend Roger Winston of Ballard Spahr’s Bethesda office. Huh? Aren’t there 48 other states besides Virginia and Maryland (and DC where ABA president Carolyn Lamm is from)? We guess the Washington region is just the best. |
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| The party was so classy there was even a jazz pianist, Greg Lamont, who’s performed for 40 years. He said our party was the best he’s ever played for. (We might have made that up, but thank goodness we in the press are protected by the First Amendment.) |
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| SEARCHING FOR INTERNS |
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| We can’t do this alone. To keep things running smoothly at Bisnow Media, we gladly accept help from unpaid interns looking for a great DC experience. If you work hard for us (be it in updating web content, reporting, ad sales, photography, and so on), we’ll let you into the inner sanctum of a fun, rapidly growing company. (And sometimes we let you write on the walls.) You may be reading this, saying, “It doesn’t apply to me; I’m gainfully (sort of) employed.” Well, don’t forget about your nieces, nephews, spouses, cousins, tenants, drifters, accomplices, or children (provided they are older than 5). Send cover letters and (fact-based) resumes to interns@bisnow.com. |
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This newsletter is a journalistic news source which accepts no payment for featured interviews. It is supported by conventional advertisers clearly identified in the right hand column. You have been selected to receive it either through prior contact or professional association. If you have received it in error, please accept our apologies and unsubscribe at bottom of the newsletter. Copyright 2010, Bisnow on Business, Inc., 1323 Connecticut Avenue, NW, Washington, DC 20036. All rights reserved.
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