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1812 Overture
Auction (Naples) L-DCRE
   
October 7, 2013
 
 

1812 Overture


CohnReznick and Nixon Peabody presents Outlook 2014: What's Next for the Historic Tax Credit (October 17-18 at The Fairfax at Embassy Row). Connect with leaders, avoid troublesome IRS areas, learn exit strategies and more. Register here.

The region's tallest building is just weeks away from completion. Last week, we strapped on a hard hat and took a video camera to 1812 North Moore in Rosslyn. (The camera we used is normally at C-SPAN, but it's been furloughed.)

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Monday Properties chief development officer Tim Helmig acted as our tour guide of the 580k SF trophy tower. No anchor tenant yet, but Tim reports that tenant tours have picked up rapidly now that the space is so tangible.
CohnReznick (Think) MDCRE

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Sorry about the noise you'll hear, but we would have staged it just for the authenticity: Around Tim, construction workers from Clark were furiously finishing the two-story lobby, which includes a big Italian marble centerpiece behind the front desk that Tim says was cut all from one slab.

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Here Tim shows us the view across the Potomac from one of 1812's roof terraces. It's a stone's throw from the four bridges (Key, Roosevelt, Memorial, and 14th Street) connecting DC to Virginia, not to mention its location on the Rosslyn Metro. As part of 1812's construction, Monday is helping WMATA rehab the station (work should be completed by early next year), including better lighting, flooring, and a renovation of the existing skybridge.

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Tim also clued us in on the prospects for 1812's two-story, 8,500 SF restaurant space facing North Moore, where he says Monday's in discussions with a few groups (there's also a 2,200 SF store space available fronting Fort Myer Drive). The lack of restaurants in Rosslyn could help 1812 usher a new concept into the neighborhood, but Tim says the restaurant tenant may come hand-in-hand with the building's first office tenant, to match up the demographics between the two. (If it's a law firm, does that mean the restaurant will have sue-ffle? Thanks everybody. Good night.)


The Tower Companies Take on The Blairs

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The Tower Companies VP of development Sri Velamati tells us he's "ready to get the project started" as he heads up Phase 1 of exciting change at The Blairs. It continues to re-imagine Silver Spring with a pedestrian-oriented, live-work-play community, which is one of the largest-ever renovations of an existing property in the US. In July 2012, it became the first multifamily residential campus to receive LEED Gold. The Blairs is 27 acres of awesome mixed-use, with 1,400 residences and 150k SF of office and retail. The ultimate goal: 2,800 residences and 450k SF of mixed-use development. And don't forget the all-important location: across from the Silver Spring Red Line Metro with MARC accessibility. For more about our strategic partner, The Tower Companies, click here. Check out The Blairs today.


Mark's Mashup

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On Friday in San Francisco, we snapped work underway on the much-buzzed-about Transbay Tower, a Boston Properties/Hines skyscraper that will rise 1,070 feet, making it the tallest building west of Chicago when it delivers in 2016. Congrats to Clark Construction, which as you can see if you squint to the right is (with Hathaway Dinwiddie) GC for the 1.6M SF, $450M Pelli Clarke Pelli project that some expect to become the city's physical symbol as much as the Golden Gate Bridge.

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Crossing the street, you can start to see how basically everything in San Francisco is under construction, especially in the white-hot South of Market area. Net absorption in Q3 of this year came in at 737k SF, including more than 150k SF of new space each for Yelp and Airbnb. And Twitter just announced it's doubling the size of its HQ to 240 characters 600k SF.

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Pivot around and you'll see Boston Properties' 535 Mission, a spec 27-story, 300k-plus footer. And on and on it goes.

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Meanwhile, old San Fran is still in vogue. At the famed Palace Hotel on Market Street for our monthly Bisnow event in San Francisco, we decided to test Americans' knowledge of history vs. pop culture. (Sounds like a Jay Leno set up, exactly.) We asked our audience of 200 very smart real estate execs how many were aware that President Warren Harding had died in the hotel while in office (Aug. 2, 1923, room 8062). Just a couple hands went up.

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We then asked how many knew that the final scene of the 1997 Michael Douglas/Sean Penn thriller The Game was shot in the Garden Court of the hotel, a few feet from our ballroom. Pretty much every hand shot up. And that folks, is what makes America so great.


Come to Our National Data Center Event!

DiceEvent
We're holding our big national data center event this year at the Ritz Carlton in Dallas on Nov. 13—350 top data center users, owners, developers, investors, lenders, and designers from around the country. (We call it DICE, which stands for something with the words "data center" in it.) Hear amazing speakers from Digital Realty Trust, T5 Data Centers, QTS, Compass Datacenters, Carter Validus, Cisco, 451 Group, and many others. Oh, and a Casino Night thrown in! Sign up now.

Can Peyton Manning be stopped? Email chris.baird@bisnow.com

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