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June 6, 2014
Yesterday, good weather, good vibes, and a good cause were all in the air at the 30th annual JDRF Real Estate Games, as DC's real estate community gathered at American U. Some new twists were thrown in this year, and we were on hand to capture all the action.
Here's the group that made the big event happen: Games co-founder Adam Singer of Savills/Studley, longtime event chair Sherry Cushman of Cushman & Wakefield, co-founder Rick Kimball of Avison Young, National Real Estate Advisors' Michelle Johnstone, 2014 honorary chair Bruce Pascal, MOI's Darrell Groves, and 2014 co-chairs Katie Yanushonis of Boston Propeties and Angelea Busby of Savills/Studley. Angelea tells us this year's Games raised well over $400k for juvenile diabetes research, hosted over 1,900 participants (a record), and was supported by over 100 volunteers.
On to the action: in the always anticipated sack race, we snapped Turner's Chuck McClellan (red) trying to edge out his competition from the highlighter-yellow clan from Colliers.
One of the Games' new events is Head of Office, where top figures in local offices engaged in a jousting battle royale. Here's two knights in rubber armor—JBG's Matt Kelly and GPI's Patrick Euler—about to duke it out.
The new Big Trike Derby—featuring contestants riding oversized tricycles with horse heads on top—was one of the most popular events. Here's the KGO Project Management team (middle) edging out its contenders from First Potomac (left) and CBRE (right).
Dug up from the archives were some classic shots from over the past 30 years. In pictures that appear to have been taken in the Dark Ages (just kidding), can you identify any of these folks? Let Chris Baird know.
The gang from First Potomac was all smiles while taking a break from the competition: Charles Shackelford, Martin Brittain, Stephen Repp, Josh Richards, Heidi Angel, Marie Gemmell, Steve Riley, Jesse Meetre, Rena Sellner, Stacy Lautar.
Snapped just before hitting the tennis court: CohnReznick's Sean Kraft with HFF's Tim Stanton, Sam Fagelson, and Jordan Fried.
This Morning in Alexandria
Alexandria eked out positive net office absorption last year, just one among many bright spots for the city, said Delta Associates' Greg Leisch at our Future of Alexandria event this morning at the US Patent and Trademark Office. Alexandria's office vacancy rate of 11% remains slightly below the DC metro average of 11.1% and even farther below the national average of 13.5%, Greg says. The presence of PTO—as well as the future arrival of the National Science Foundation—also positions Alexandria as the true intellectual property capital of the world.
The NSF's Mignon Anthony (with McGuireWoods' Jonathan Rak) is handling the agency's transition from Ballston to Alexandria. She says that while the addition of 1,500 employees will be a boon for the city, the real impact may be in the 1,000 or so visiting scientists who'll visit the new property at nearby Hoffman Town Center every week to present and defend grants. (Hotels: Stock up on board games and Battlestar Galactica DVDs—things are gonna get crazy.) Stay tuned for more Alexandria coverage on Monday.
Change of Plans for the Tenleytown Safeway
Once targeted by Bozzuto as a prime mixed-use redevelopment opportunity, the Tenleytown Safeway has transferred to different hands: Georgetown Day School. The PK-12 private school announced yesterday it's purchased the Safeway site as well as the Martens Volvo/Volkswagen dealership down the street—DC public records show the school paid $39.2M for both sites. Georgetown Day School is mum on future plans, but did say in a statement that it ultimately hopes to reunite its lower and middle schools, based on MacArthur Boulevard four miles away, with its high school, based in Tenleytown. (All students dream of going to school in a supermarket, especially on mystery meat Wednesdays.)
Mixologist Madness—Next Thursday!
Are the words open bar and top-notch networking enough to entice you into spending an evening with us at our Super Schmooze on June 12? How about having 28 incredible chefs and the city's best mixologists, too?It's not a party without killer cocktails, so prepare to sip on something special from Marvin Mixologist Ferit Ozergul. You'll find him at the Marvin Gaye tribute bar on 14th Street slinging cocktails like the one we snapped of him making The Suzie, with fresh organic strawberries.
Marvin's next-door neighbor, The Gibson, will also be shaking and stirring drinks at Super Schmooze. We snapped Ted Freeseman stirring two drinks at the same time—so smooth. Ted says the best day to visit the swanky cocktail den is on Tuesdays. That's when you can try drinks inspired by a particular year's pop culture. June Tuesdays will showcase the year 1994, while July Tuesdays will take you back to 1976. Click here for more info and to sign up for Super Schmooze.
NEW BISNOW VIDEO: Are YOU Investing in Real Estate?
Sure, you work for real estate companies. But do you own and invest yourself? Well, maybe it's time. We asked prof. Peter Linneman to record 90 minutes just for our readers on how he'd advise you to do it. Here's some topics he takes up:
Should you invest in REITS or private deals?
Visiting the real estate you invest in
Do you need spreadsheets?
Evaluating the people in a deal
An unexpected danger of good credit quality tenants
Understanding the bet you're making
What to negotiate
Operating risk v. financial risk
Learning from the competition
Different kinds of property
The best time to Buy or Sell
The biggest skill you need
Remembering the fundamentals
Tip for short-term investments
A secret about high quality real estate
We've specially priced this tape to make it as widely available as possible. Just $39!
Why didn't the hipster real estate agent show the oceanside mansion? It was too current. Email firstname.lastname@example.org