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January 7, 2010  
 
 
LAW FIRMS
ON THE MARCH?

Prices go up today at 6pm for our next Montgomery County Bisnow Breakfast & Schmooze at the Woodmont Country Club, which already has 100 signed up. Join the fun, Jan 19, as Tom Bozzuto, Cameron Pratt, and Lacy Rice discuss the 2010 residential market. Sign up today!

 
Mayer Brown, Arent Fox, Hunton & Williams: These have been the big law firm leases announced in the last couple years. Now comes a 156k SF deal for Sutherland Asbill in Gallery Place, two years in the making through a team effort of Studley (Rick Rome, Lois Zambo, Nicole Miller, and Steve London) and Eric Berson of Washington Realty Group in Palo Alto, who has long repped Sutherland.
 
Akridge’s 700 Sixth St

This morning we snapped Akridge’s 700 Sixth St, where the 15-year lease won’t actually start until November 2012, a month before Sutherland’s current lease runs out, but an extra couple years’ vacancy (a buildout takes a year anyway) is evidently the price to pay for attracting a top drawer presence that pretty much fills the building. (We were at both 700’s groundbreaking and ribbon cutting, and also showed you tenant Cadwalder’s space, so we feel like we’ve known this kid from cradle to wedding.) Sutherland’s been in three buildings in the 1200 block of Penn and wanted to consolidate. Your publisher was once a summer associate at its 1666 K office before most of you were born, so notes a pattern of eastern migration; maybe they’ll make it to NoMa and even RFK someday.

CREW (Jan 19) - in-text o

DEMOLITION AT ROSSLYN COMMONS

 
JBG’s James Nozar, Matt Blocher, Bryan Moll and Kai Reynolds

What could lure us out onto the roof of the Belvedere in Rosslyn with rapidly dropping temperatures? The panoramic view of DC didn’t hurt but it was our front row seat to neighboring construction on JBG’s 1510 Clarendon Boulevard led by construction manager Neil Belcher. We snapped JBG’s James Nozar, Matt Blocher, Bryan Moll, and Kai Reynolds braving the 18-story ledge to point out their plans for a 474-unit apartment community on Clarendon Boulevard designed by Architects Collaborative and Collins & Kronstadt.

Two multi-family buildings, 25 luxury townhouses, and 12k SF of retail will replace eight garden-style apartment complexes that previously filled the block. Still in the demolition phase, the group hopes to start construction in mid-to-late 2010, with both towers complete two years from start of construction. Tower One will have 271 units for rent—55 of which will be dedicated affordable housing. The second tower will feature 203 modern units, delivering as rental or condominium residences depending on market conditions, along with street-level retail. With smaller, more efficient residences that include floor to ceiling glass, JBG hopes to focus on adding unique amenities and attractive retail to this section of the R/B Corridor. Both buildings include a rooftop pool, lounge, and fitness club along with a shared below-grade parking garage.


$75M SALE OF CENTERVILLE APARTMENTS

 
Woodway at Trinity Centre

CBRE Investors purchased Woodway at Trinity Centre apartment homes for $75M.  First Capital Realty’s Rick Shinberg and Les Zimmerman (half of the four-broker firm) repped the seller, Cornerstone Real Estate Advisers. The 504-unit building generated a high-level of interest with more than 30 offers. Rick says that in addition to the property’s luxury units, its built-out Fairfax County location made it attractive, along with Trinity Centre itself, featuring Class-A office buildings, Lifetime Fitness, and a small restaurant park. The company also recently repped the Trust Department of PNC Bank in the sale of Diamond Apartments, a 32-unit project built in the early ‘30s, located around the corner from AU Law School at 47th and Mass.


LAS VEGAS UPDATE
 
CityCenter

Yesterday and today your publisher snapped these pics of so-called “CityCenter” in Las Vegas. It’s the most expensive private development in the history of the US, nestled (if that can be a word for 67 acres and 18M SF of development) between the Monte Carlo and Bellagio right on the Strip, where you probably didn’t think they could fit anything else. Those Veer Towers that look like they’re falling over (a deliberate optical effect of course) were designed by Helmut Jahn of 1999 K Street fame.  

 

This is part of a 500k SF retail and entertainment complex called Crystals designed by Studio Daniel Libeskind with interiors by David Rockwell. The whole CityCenter used 77,000 tons of steel, 1.2 million cubic yards of concrete, 30 cranes, 3.7 million SF of curtain wall façade, 17,000 miles of electrical wiring, and the resources of MGM Mirage and Dubai World. (When Dubai World had resources.)

 
Aria Hotel in Vegas

A lot of glass here at the 4,004 room Aria Hotel, where your ever-sacrificing publisher is staying on the 51st floor and constantly having to run down to the casino to get cell phone reception. (Interesting slice of humanity you run into at the gaming tables at 6 AM.) The Aria was designed by Pelli Clarke Pelli, of Square 54 fame, and the neighboring Vdara Hotel (a little boutique at just 1,495 rooms, though all suites) by Rafael Vinoly. There is also the teenie weenie Mandarin Oriental at 392 rooms done by Kohn Pederson Fox. Do we like it? Well, stunning architecture, but, to be perfectly honest, it’s a bit too 22nd Century sleek for us; we’re still transitioning into the 21st. 


UPCOMING EVENTS
 

January 12 - Bisnow Breakfast & Schmooze - Event Strategies -Driving Attendance and Managing Costs." BLT Steak - Sign up now!

January 13 - Bisnow Back to Business Total Schmoozarama - Park at Fourteenth - 6-8pm - Network with top level business execs, enjoy open bar, and gourmet buffet. Crazy low price. Join us!

January 19 - CREW DC - "Roadmap to Economic Recovery" featuring Marci Rossell, former CNBC Chief Economist and Co-Host of Squawk BoxInfo

 
 
Reznick (We know)
Arent Fox (RE DC) #2
Reznick (Creating)
CREW (Jan 19)
Cardinal (Sold)
601 Penn
RE Counselors
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