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Douglas Scoops Up Another Site on New York Ave

Washington, D.C. Retail

In other Douglas Development news, the The Washington Post wrote Friday that Douglas is under contract to purchase a 15-acre site at the corner of New York Avenue and Bladensburg Road in Northeast, where a Walmart was once slated to locate. (We were the first to report back in January that the site was on the market.) It's just blocks away from the redevelopment Douglas is undertaking on the old Hecht's Warehouse complex, also on New York Ave. No word on Douglas' plans for the site or pricing, but in January, the site's listing agent, Transwestern's Gerry Trainor, told us it could fetch as much as $70M because of its hot location and mixed-use potential.