TIAA-CREF Looking For Buyers For Apple, Whole Foods-Anchored Market Common
Market Common Clarendon, the 10.1-acre development anchored by a Whole Foods and an Apple Store in the heart of one of DC's best retail submarkets, is on the market.
TIAA-CREF has owned the property since 2002, when it bought it from developer McCaffery Interests, according to public land records. For 2700 Clarendon Blvd, which includes 235k SF of retail and the 300 apartments, it paid $147.5M. For the Whole Foods property across the street, it paid $18.6M.
TIAA-CREF has retained CBRE to market the whole property, which comprises 296k SF of retail on five different streets, 97k SF of office space, 300 apartments and over 1,000 parking spaces. There's additional buildable FAR, but the retail space is among the best in Arlington, along the lowest vacancy retail high street in the region.
McCaffery's DC offices are in Market Common's office space, which was built in 1942 and renovated in 1995, according to CBRE's listing. EVP Bill Kent is leading the brokerage team, along with EVPs Christopher DeCoufle and Andrew Boyer. It's unclear when exactly it hit the market. CBRE declined a request for comment.