Top 10 Articles From Around The Web: Crystal City/Pentagon City
1. This month, Xenia Hotels & Resorts paid $105M in cash for the 365-room Pentagon City Ritz-Carlton, which recently underwent an $11M renovation.
2. The Transportation Security Administration has signed a 15-year, $316M lease at a planned 625K SF, 10-acre, Class-A office in Springfield. It will leave its current Pentagon City home by 2020.
3. Newly formed JBG Smith has ambitious plans for its large Crystal City portfolio. It hopes to transform Route 1 into a 24/7 environment, envisioning it as the next Rosslyn-Ballston Corridor.
4. These five tech, design and beverage companies are thriving in Crystal City’s incubators and co-working spaces.
5. Crystal City has one of the nation’s only two WeLives, the co-living concept introduced by co-working giant WeWork. A company executive had said the WeLive expansion was on hold until the model could be made 10 times better, but this summer WeWork announced a third location coming to Seattle with a planned 2020 opening.
6. November’s presidential election catalyzed an appreciable pickup in leasing activity in Arlington County.
7. Beginning this month, food delivery provider Zifty will enable Arlington residents to order food from the six restaurants and the food court at the Fashion Centre at Pentagon City.
8. Vornado is looking to divest itself of its 44% to 50% share of the 2.5M SF, five-tower planned Rosslyn Plaza redevelopment. This was excluded from its JBG merger, which encompassed 26 properties in Crystal City.
9. Crystal City has attracted big-name grocers and experiential destinations, and has several exciting projects planned.
10. Modern Mediterranean restaurant Roti opened this summer in Pentagon City, joining nearby Tysons and Rosslyn locations. All offer wraps, rice plates and salads.