Three Local Firms Ramping Up Retail
Look at almost any Whole Foods in the DC region and MV+A Architects designed it. For the past 20 years, the firm has designed over 60 stores, including the first one in Prince George’s County—a project that includes 150k SF of retail and 1,000 residential units on top. The 27-person firm, which focuses on mixed-use projects inside the Beltway, also just finished the high-profile Walmart on H Street—the first one in the country with residential units on top. MV+A also did the first Walmart in Tysons, with a health club, retail and offices. One of its current projects is the mixed-use portion of McMillan Reservoir (above), a 25-acre industrial site at Michigan Avenue and North Capitol. Construction will start in about a year.
Paraclete Realty is an Alexandria-based retail brokerage and consulting firm, started by Charlie Phelps (above) in 1999. The firm's tasked with finding the right mix of retailers for several mixed-use projects in the region, including 100k SF of ground-floor retail in the MetroWest residential towers near the Vienna Metro; 200k SF of retail, including an anchor grocery store at a new 45-acre village center in Herndon; and several spaces at Clinton Village Mart, Germantown Square, Accokeek Village and Festival at Muddy Branch in Maryland, handled by Andrea Patrizio. Paraclete (the name comes from the Greek word for consultant) also represents the expansion and rollout of new DC-area stores for multiple tenants, including The Fresh Market, Cabela’s, Alamo Theaters, Alliance Physical Therapy, Zoup and C2 Education.
Atlantic Realty in the mid-'90s developed and built Plaza America (pictured), one of the first mixed-use projects in the area with office and retail. The project has 164k SF of retail, including Whole Foods, Champps and Fitness First. One of its most recent feats was the purchase of four office buildings (500k SF) in Reston for $82M. The office park is strategically located near the Dulles Access Road and the new Silver Line, and the buildings are 50% leased to more than 40 tenants. Atlantic Realty has been developing and managing office and retail space since 1992 and has a portfolio of up to 4M SF in Virginia, Maryland and Delaware. We’re thrilled MV+A Architects, Paraclete Realty and Atlantic Realty are our Founding Sponsors for our Bisnow Beltway Bash on May 18 at 5:30pm at the Wynn’s Tryst Nightclub during ICSC RECon. Please register here!