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October 20, 2008
HAPPY 300th!

Big shout-out to great new sponsor Lerner Enterprises! Their high-profile projects at 1775 Tysons Boulevard, Fallsgrove Executive Plaza and 20 M St are now finished and ready to be leased. Please see ad to right for more detail.


Well, technically Grosvenor was just celebrating the 20th anniversary of its entry into Washington with a rooftop reception at the Hay Adams Thursday evening. But this distinguished group actually traces its roots to the late 1600's when Sir Thomas Grosvenor began to develop what is now London's exclusive Mayfair and Belgravia districts. Today they have 1.6M SF in Washington-area properties, part of a $26 billion portfolio on four continents.


Doug Callantine, left, is CEO of Grosvenor Investment Management US, which owns four of their six local buildings; North American Chief Development Officer Andrew Bibby is based in Vancouver, BC; and Mark Darley is local chief.  Although they should have thought of buying it a couple hundred years ago when perhaps it could have been had at fire sale prices after the War of 1812, they do not currently own the White House behind them, above. However, in the current financial crisis, a net lease might make sense. Here's another thing to think about: Darley played trumpet in an Earth Wind & Fire cover band (his favorite EWF song: September). Although he no longer does that, you must still be careful: He's about to purchase his first motorcycle (a Ducati, no less).

Lerner Enterprises

Also on hand (besides a string trio behind them): Madison Retail's Christi Mayo and Jennifer Price, on the left, with boss Eric Rubin on right; and in between, Grosvenor's Cheri Hall, who ran the local office 17 years and Grosvenor Investment Mangement capital markets man David Reiner. Grosvenor's local holdings include office (eg, 1701 Penn, Carlyle Gateway, Southern Railway, Lorton Town Center Medical Building), hotel (the Chevy Chase Holiday Inn, undergoing a major renovation to become a Courtyard by Marriott in '09), and high-end retail (eg, Old Town waterfront, Dupont Circle, Friendship Heights, Woodley Park, and some suburban). And now hear this: Grosvenor is looking for development opportunities in the D.C. metro area.

Condo Authority


We were delighted, also Thursday night, to co-host an event for Bisnow sponsors with DC United owner Victor MacFarlane, center, here with DC Sports & Entertainment CEO Erik Moses and COO Maurice Henderson. Victor was probably far more delighted that his team notched a key 2-1 win over the New England Revolution.


Also co-hosting, Volkswagen's North American chief Stefan Jacoby, here with his wife and kids, and our friend Patrick Quinn, co-founder of Patriot Contracting. First things first: Our great sponsor Patriot does $25M a year in construction, about half flex and half tenant improvements. But here's an amazing factoid we gleaned from Stefan. We all know VW moved to Herndon earlier this year from Detroit, bringing their 350 employees with them. And we also know that VW now owns Bentley. But, frankly, we had forgotten that they own Bugatti, and we certainly did not know that Bugatti's headquarters is in lil' ol' Herndon!  For those of you who have never bought a Bugatti, it's a mere  $1.5 million and only 80 copies are made a year. But it accelerates 0 to 60 in 1.5 seconds, meaning only $100,000 per tenth of a second. A real bargain, we'd say.


ITA Design's Bita and Rouzita Vahhabaghai are preparing for a tango-filled trip to Argentina.


The game was a must-win for DC United to remain in the playoff chase. With two Francis Doe goals, DC United did what it needed to do with just ten minutes left. The club's averaging 16,000 fans a game, who shake and bounce in the famous RFK bleachers just like 'Skins fans in their heyday. Come join the fun!

Reznick Group
Lerner Enterprises
Leo A Daly
Georgetown U
Cardinal Bank
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