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September 9, 2008

BALLARD SPAHR REPORT. Attorneys at Ballard Spahr know all about rescuing real estate projects and loans in distress. The firm has launched a new "Distressed Real Estate" practice of 40 specialists in real estate, bankruptcy, litigation, tax, and other areas to help projects in today's choppy waters. READ MORE!


If there's a "Sideways II" in the works, Loudoun County's Economic Development Commission will leave a light on for Paul Giamatti. The county with the nation's second highest median household income has 20-plus wineries on its Loudoun Wine Trail. We tooled out the Greenway to Leesburg Friday to visit with EDC members, and found out vino is not Loudoun's only elixir.


Buchanan Partners EVP Russ Gestl (not a misspelling-he says he couldn't afford the extra vowel) holds Loudon's 2007 Annual Growth Summary with EDC compatriots Dorri Morin; Robyn Bailey; Chair Tamar Datan; and Terry Moraska. Robyn says there are "monster opportunities," especially as zoning laws change to encourage bigger mixed-use projects. Buchanan's Arcola Center, 400 acres of mixed-use at the juncture of Route 50, Route 606 and Loudoun County Pkwy., breaks ground next quarter on a multi-phase plan to create 2M SF of retail, 2.1M of office and flex, and 1169 residential units; William A. Hazel is primary infrastructure contractor and LF Jennings primary retail contractor. Brambleton is being developed by Soave Enterprises (out of Detroit) off Route 659; One Loudoun (Miller & Smith) just started construction where Loudoun County Parkway meets Route 7; and Moorefield Station is in preliminary design at the terminus of the rail line beyond Dulles.


Don't you think this should be the EDC's Christmas card? The fresh flowers were so appealing, we hauled everyone from the last picture outside the Ida Lee Rec Center and added in Loudoun Supervisor Susan Buckley (left) and Superintendent of Public Schools Ed Hatrick.


Sunday night, pretending Labor Day hadn't passed, we had a BBQ with friends from the real estate world: Leo A. Daly DC head (and former congressman and ambassador) Dick Swett, second from left, with his Hopkins sophomore son Keaton and (standing in back) son-in-law Chris; Northern Virginia NAIOP chairman David Birtwistle with wife Debbie (of Larsen Commercial Real Estate); and Transwestern regional head Tom Nordlinger and wife Mimi (holding Jinxie Bisnow). Tom and Mimi just returned from the US Open, where they've been going for 42 years (obviously in strollers at the beginning). David's firm, Balfour Beatty, has an exciting moment coming up: dedication this Thursday of the Pentagon Memorial on which they were the design/builder. Hats off to these guys for a moving achievement.


Last Friday we hosted a lunch for sponsors at Jose Andres' fantistico Café Atlantico: Reznick Group's Jim Martinko, Kling Stubbins' local head Pascal Pittman, Suffolk Construction's Dan Peyton, Beveridge & Diamond's Ed West, and Trammell Crow multi-family developer Jeff Miller. Ed, who came over to B&D from Covington in August, actually negotiated the original Café Atlantico lease at 405 8th St. in 1995 on behalf of then-owner Potomac Capital Investment Corp., the real estate arm of PEPCO. Jeff's working on the site plan for the 334-unit Madison Avenue apartment project on Braddock Road in Alexandria breaking ground in Q1 '09. Dan, who joined Suffolk when they entered the DC market last year, is prepping for his April '09 wedding in the U.S. Virgins! (Maybe we'll go cover.)


This is what happens to an esteemed ex-president of the Board of Trade when he enters the real estate field. We remember when he used to be able to afford jackets and ties and was invited nightly to fancy buffet meals. We kid. It's Staubach's philanthropic Bob Peck at the Davis/JLL/Kling Stubbins buff and scruba-palooza at Simon Elementary School, 401 Mississippi Ave., SE. The rest of the team repaired and repainted doors, walls, railings and masonry, as well as installing windows and floors. Bob evidently cleaned paint brushes.


No, Jonathan Taylor of TTR Sotheby's International Realty, has not turned into a chimney sweep, though on a beautiful day like this Sunday when we snapped this it might have been tempting. He was showing us innovative condo conversions in ever-changing Logan Circle. 

Did you miss the Ballard Spahr Report?  Check it out.

Don't forget to sign up for the Bisnow Fall Real Estate Conference! Next Thurs, Sept 18th at the Press Club.


Goulston & Storrs
Ballard Spahr
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