Rock Creek Property Group Closes Deals With Children's National, Howard At Northwest D.C. Projects

Rock Creek Property Group has signed deals with two major D.C. institutions for separate adaptive reuse projects in Takoma and Shaw.

The developer closed a deal with Children's National Medical Center to lease the historic Takoma Theater as an outpatient clinic to house its new mind-brain institute. It plans to open the institute in 2019. JLL's Matt Coursen represented the tenant in the deal.

The 23K SF theater at 6833 Fourth St. NW was built in the 1920s and has sat vacant for over a decade. The developer completed a renovation of the building, restoring the exterior masonry, exposing the original steel trusses, adding a slab to create a second floor and installing new windows and skylights.

"Having a world-class tenant in this historically important building will invigorate and serve as an anchor to this important 4th Street corridor in Takoma," Rock Creek principal Gary Schlager said in a release.

Rock Creek also signed a 30K SF lease with Howard University at 1851 Ninth St. NW. Civitas Commercial Real Estate Services' Dennis Perkins represented Howard in the lease.

The developer acquired the Shaw building in 2016 for $7M. It had previously been approved for conversion to a 27-unit condo project.

"As we considered the building, we felt that this particular building was better positioned for school, university or related administrative use over the long run," Schlager said.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Northern Virginia Office Tower Sells For Double Its 2024 Price

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Fertility Provider Opens Clinic At 1900 Lawrence Office Tower: The Denver Deal Sheet

Office Revenues Are Failing To Keep Pace With Expenses

Security Tech Firm Plans Loudoun HQ Move: The D.C. Deal Sheet

Stephen Ross Expands Palm Beach Empire With Massive Boca Raton Campus

25 Years After 9/11, Lower Manhattan Is Finally Firing On All Cylinders

Tishman Speyer Seeks $92M Tax Break For Next Hudson Yards Office Tower

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

Charles Cohen Plans $350M Office Project After Resolving Debt Ordeal

Report Finds Hybrid Work Creates New Opportunities For Women In Real Estate