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January 11, 2010  
 
 
NEW YEAR, NEW JOBS

What’s on the calendar of Mitchell SchearRay RitcheyMike Darby, Maureen DwyerJim Davis, Jim Abdo, and Tom Fulcher for Wed, Jan 13? Why, the Bisnow “Back to Business Total Schmoozarama,” at one of America’s great clubs, the Park at 14th. Open bar and dinner buffet, crazy low price. Sign up now!

 
A new real estate mantra emerged at Cushman & Wakefield’s look ahead this morning: Survive 2010 and you will thrive. But the fun starts even sooner for some industry vets taking on new positions.
 

We snapped Cushman’s Peter Berk, Sue Carras, Pete Marcin, Audrey Cramer, Sigrid Zialcita, Brian McVay and Dan McGivney. Besides the now customary salute to GSA for keeping us afloat, the group says the differential between asking and effective rents will decrease slightly. As supply starts to dwindle in DC thanks to no new construction, Audrey says a “moment of reality” will occur when the first large tenant starts looking for space in 2011-2012 and must drive a build-to-suit without any other options. With owners not willing to build without a return and tenants searching for the best deal, the transaction will answer the questions, “How much is property really worth in DC” and “Where do I stand?”

 
CREW (Jan 19) - in-text o
 
1000 Connecticut

1000 Connecticut will be the last building to deliver in the DC marketplace for a while. As supply dwindles, Sue says DC will see an eventual rent spike but only people who get in the game now will benefit. It will be a game of musical chairs in MD and NoVa with tenants trading up without growing. Two black clouds loom over Bethesda: the rumored move of CoStar to DC and the fate of the Chevy Chase bank HQ at 7501 Wisconsin following the buyout by Capital One. The combined 350k SF deals could increase area vacancy by 5%.

 
TEEL - in-text or right t
 
Petch Gibbons

We snapped Petch Gibbons who just left his role as president of J Street Cos to become Cushman executive director.

Gene Kenney

And Gene Kenney, previously at Akridge, working to unpack boxes in his new Cushman digs just down the hall from fellow new arrival Matt Alexander.


HITT THE MARK
 
W Hotel

We snapped this of the W Hotel, one of three HITT Contracting projects that received Zurich’s ’09 Safety Excellence award for achieving zero lost time accidents during construction of large, complicated projects. HITT won for 995k safe work hours while transforming Hotel Washington into the upscale W Hotel. Other winning projects: Terremark Phase 1 NAP of the Capital Region in Culpeper and the United Medical Center in DC. HITT’s Construction Project Manager Laura Schonfeld has been appointed to a two-year term as member of the USGBC board. She will chair two of the largest chapter events of the year: Midsummer Night's Green and Green Tie Affair.


HFF ARRANGES $23M REDEVELOPMENT LOAN

 
Olney Town Center

HFF arranged a $23M redevelopment loan for Olney Town Center, a 98k SF retail property in Olney, MD. HFF’s Mark Remington worked on behalf of the borrower, a Carl M. Freeman affiliate, to secure the three-year adjustable-rate loan with RBS Citizens Bank. Built in 1987, the center will undergo construction and renovations to expand to 110k SF with Harris Teeter as the new anchor tenant by completion in mid-2011.


ED LINDE.
 
The real estate community mourns the loss on Sunday of Boston Properties co-founder and CEO Ed Linde, who helped build one of the iconic companies in the industry since its founding in 1970. Mort Zuckerman assumes the CEO role. We express our heartfelt condolences.

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

January 19 - CREW NoVa - State of the Real Estate Market - 6-8:30pm - Steve Fuller, Wendy Feldman Block, Kathy Keller, and Cathy Delcoco - Fairview Park Marriott - Info

 
 
 
Reznick (We know)
 
Monte Carlo (2010)
 
Cardinal (RE) #2
 
WTHF
 
Atlantic
 
Note Auction
 
Carr (Mirror)
 
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