Northern VA Real Estate Market Activity (June 2016)

The Northern Virginia real estate market saw minor increase in sales compared to last year June. 4,363 homes were sold. According to NVAR chairman of the board “ The biggest challenge in the Northern Virginia real estate market is low inventory. Ready millennials are finding it hard to get entry-level homes.” There were 5,181 active listings in June, and 5,733 listings in June 2015. This creates a competitive market for single family homes with the low interest rates available.

July 27, 2016 / by / in
Pizza for Philanthropy
On Friday, July 1st Mod Pizza’s new Reston location will be donating 100% of the PIZZA sales to Generosity Feeds. That means that all you need to do to help raise money for Generosity Feeds is have a great pizza for lunch or dinner and invite your office / friends.

The CAZA Group will be there opening day between 12p – 1p supporting the event by inviting all of our friends and family to come out and have some lunch on us. b

All the information you need to know is below.
  • Location: 11642 Plaza America Dr. Reston, VA 20190
  • Date: Friday, July 1, 2016
  • Time: 12p – 1p/EST
  • 100% of PIZZA sales go to Generosity Feeds (that means buy lots of pizzas)

The more people buying pizza, the more support Generosity Feeds gets, hope you can make it!

June 30, 2016 / 5 Comments / by / in
A new cut? Former chophouse site in D.C. pitched for redevelopment

Its days as one of D.C.’s choice steakhouse spots are over, and now the former Smith & Wollensky restaurant south of Dupont Circle is being pitched for sale as a potential redevelopment play.

Cushman & Wakefield Inc. recently began marketing the Golden Triangle property at 1112 19th St. NW to prospective buyers, roughly two months after Smith & Wollensky abruptly shut down. Cushman & Wakefield estimates the site could be redeveloped into a 130-foot-high, 105,000-square-foot trophy office, hotel…

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May 16, 2016 / by / in
Residential conversion of office building near Dupont, beer for Union Market and veggies in Georgetown

Welcome to permits on this late fall Monday. Oh, it’s mid-May, you say?

1255 22nd St. NW: Tasea Investment Co., owner of this “obsolete” seven-story office building south of Dupont Circle, will convert it into 77 rental apartments, while constructing a nine-story, 120-unit residential addition on an adjacent parking lot. The existing building will get a new facade, though the post office currently operating on the ground floor will remain, as will the existing three-story underground parking garage.…

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May 16, 2016 / by / in
With overhaul, Douglas to turn Darth Vader building away from the dark side

It looks like a name change may be in order for Douglas Development’s “Darth Vader” building.

Douglas, the owner of 111 Massachusetts Ave. NW, has filed plans with the District to construct a 95,400-square-foot addition and undertake “significant renovations to the building in order to update and improve” its architecture and street presence.

It will remain largely an office building, with ground-level retail space marked by 14-foot high ceilings, but the lobby will be reoriented to the heavily…

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May 16, 2016 / by / in
KB Home to leave Greater Washington market within the year

Residential home builder KB Home (NYSE: KBH) is leaving Greater Washington to focus on more productive areas of the country, the company said in an announcement.

The homebuilder will be out of Greater Washington within a year after it finishes building homes on its available land or selling off the parcels. It will instead double-down on areas where it already has a strong presence, such as California and the Southwest U.S.

The Los Angeles-based company will continue to sell warranties on its finished…

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May 16, 2016 / by / in
Bob Milkovich didn't make it to the NFL. A local REIT might profit from it.

Bob Milkovich didn’t so much blurt out his role as a starting quarterback for the University of Maryland Terrapins as dare me to ferret it out. And such a dare is an irresistible thing for a reporter to shrug off.

It was a Monday afternoon at First Potomac Realty Trust’s Bethesda office, five months after the company’s board tapped Milkovich to replace Doug Donatelli as its chief executive. I was there to interview him about the path that led to the abrupt resignations of Donatelli and co-founder…

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May 16, 2016 / by / in