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As development continues to surge in the Capitol Riverfront neighborhood, new opportunities for large-scale projects are few and far between. But one of the neighborhood's largest development sites has just hit the market.
Freight rail operator CSX is looking to sell its 7.3-acre site at 861 New Jersey Ave. SE, the Washington Business Journal reports.
The landowner retained CBRE to market the property and says it has the potential for more than 1M SF of development. CBRE's marketing materials suggest three or four buildings could be constructed on the site.
The property sits on both sides of Interstate 695, between South Capitol Street and New Jersey Avenue. CSX has been using it as a rail yard and construction staging site for its Virginia Avenue SE tunnel reconstruction project.
It also sits just north of WC Smith's three-phase mixed-use project The Collective. The Agora, the project's Whole Foods-anchored second phase, is expected to deliver this quarter.
Another Capitol Riverfront development site just north of Nationals Park at 49 L St. SE hit the market this summer, although at 0.68 acres it is a fraction of the size of the neighborhood's latest offering.
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