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Real Estate Bisnow
January 16, 2013  
WorkSpaces (Left2) DCRE
Metro Center Blues

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The Metro Center area is facing some huge departures in the next two years. At a CREW NoVa event last night in Tysons, we learned the problem might get worse before it gets better. (No matter what happens, at least we'll have Olsson's Books to retreat to for comfort reading... what?!)
Wendy Feldman Block, Cathy Delcoco, Steve Fuller, Diane Sappenfield

Studley's Wendy Feldman Block (left), who spoke at last night's event at the Tysons Maggiano's, says the vacancy of the Metro Center submarket (which she defines as 9th and 15th streets between NY and Penn avenues.) will balloon to 17.5% in 2015 from 6.2% in 2005, and the culprit? All that law firm movement, she says. The departures of Arnold & Porter and Covington & Burling and Howrey's bankruptcy alone have dumped 1.2M SF on the submarket, and the inefficient floorplates of its aging buildings will make filling that space tough. Wendy was joined by Cathy Delcoco of CBRE, GMU whiz Steve Fuller, and moderator Diane Sapperfield of McEnearney Commercial Real Estate.

WGas (Intext-13)
Neva Murphy, Megan Kindle
Before the event, we made the rounds and ran into the likes of Evenson Best's Neva Murphy (left) and FOX Architects' Megan Kindle. Neva's firm is working on the furniture installations for both the DHS and Coast Guard HQ projects at the St. Elizabeths campus.
Evolve (Puzzle) MDCRE
Marie Purkert, Ted Lewis, Carolyn Evans, Amanda Sanderson
Also spotted: Christopher Consultants' Marie Purkert, GeoConcepts Engineering's Ted Lewis, Global Engineering Solutions' Carolyn Evans, and GeoConcepts' Amanda Sanderson.
Jay Jurgens, Ed Venditti, Eric Marks
We made sure to catch up with some of the dudes in attendance as well. Pennoni's Ed Venditti (flanked by Jay Jurgens and Eric Marks of MulvannyG2) tells us he just became a grandfather for the first time. Congrats Ed!

Young Guys Can Close Deals, Too
Andrew Genova, Matt Levin
West, Lane & Schlager associate Andrew Genova (left, snapped yesterday with colleague Matt Levin) got in to the CRE biz in 2009 at the bottom of the market, made countless cold calls and attended tons of networking events. Andrew says these sometimes exhausting practices are crucial for a young broker starting out—and it seems to have worked for him, as he's negotiated five new leases totaling 23k SF over the past few months. One of those deals was an expansion for Middlebury College at 1400 K Street (below).
1400 K Street
Andrew, who's also worked at UGL Equis (now DTZ) and Manekin, says that there's "an abundance of new business out there" if younger brokers are willing to think outside the box in forming relationships, such as joining and participating in community organizations. And once personal relationships are established with clients, "it's more likely they will refer you business," he says.

HFF Promotes Jim Meisel
Jim Meisel
HFF's Jim Meisel (second from left) has been promoted to head of the firm's local investment sales team, as announced earlier this week. Jim told us yesterday from a conference in Scottsdale that he's excited to lead the group (including office, multifamily, industrial, and net-lease specialists) into 2013, which he says should be a stronger year for sales locally after 2012's uncertainty. Jim will also assume the role of office co-head, sharing duties with Sue Carras. Steve Conley will remain executive managing director.

Hippest Hotels (Continued)
Mercer Hotel
We told you Monday about the retro trend in NYC's boutique hotels, that could find its way to DC. Here's another hallmark of some leading specimens: No sign. Yesterday our publisher snapped the 75-room Mercer, a luxury property of famed high-style hotelier Andre Balazs at the corner of Mercer and Prince in SoHo. It's been around 16 years—and has never had its name out front.
Morgans Hotel
And here's the original Morgans Hotel created by Ian Schrager in 1984, on Madison at 37th—also no name to be seen. If you didn't know, you'd walk right by (as we did at first) and assume it was a co-op.
Mondrian Hotel
A more recent Morgans property, the two-year old Mondrian on Crosby and Grand in SoHo, has only a minuscule sign at ankle height in front on its lavish arbor entrance.
60 Thompson Street
And Thompson Hotel Group's flagship, 60 Thompson Street, has just its street number. Does anyone know of examples in DC of this anti-hotel sign philosophy? Contact Chris.Baird@Bisnow.com.
Taka Taka
This doesn't fit the above story line, but we just had to share this great SoHo solution to the next time your group can't decide what cuisine it wants to eat.
Send story ideas to chris.baird@bisnow.com
Cleaners (Patch)
Brown Craig (People)
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