Bisnow Scoop: HFF Closes Capital Heights Deal
We ran into HFF industrial experts Mike Stuart and Bruce Strasburg at our DC Mixed-Use Revolution event earlier this week, and learned the following. They just brokered the $17.2M sale of a 166k SF warehouse in Capital Heights to Invesco on behalf of sellers Ares and Adler Group. Bruce tells us the property, known as the Hampton South Business Center, was 96% leased to seven different tenants; the bidding on it was spirited, with three rounds of offers. See what you learn at our events? (Or, if you prefer to sleep late, what you learn reading our publications?)
Mike and Bruce tell us they're also hitting the market with a new listing: Central Armature Works has tapped them and colleague Sue Carras to find a JV partner for its 106k SF HQ site in NoMa. Bruce tells us CAW is seeking to lock down a partner to re-entitle and redevelop the site, which sits across from the NoMa Metro stop and just north of Douglas Development's Uline Arena redevelopment.