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Washington, D.C. Commercial Real Estate

Willco's New York State of Mind

According to Willco Companies CEO Jason Goldblatt, the New York Ave NE corridor is on the rise. And his firm purchased a 3.1-acre site at 1345 New York Ave for $8M from Greyhound. The site, which has built-in income from a lease to the District until 2018 (it parks school buses there), lies a few doors down from Douglas Development's Hecht's warehouse as well as Gallaudet University. Jason says the best future is likely mixed-use (it's already approved for 545k SF of commercial space) since the neighborhood is "underrepresented" from a retail and multifamily perspective. Looking at this photo makes us think "giant ice rink" could also be a good use. CBRE's Mark Malus represented Greyhound in the deal.

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