GREATER
Let’s Dish
Wireless Toyz
Fractured Prune
PNC Bank
Commerce Bank
Top 5 new restaurants that entered the market in 2006:
Z Pizza
Vocelli Pizza
Brio
Bravo
Dog Fish Head Alehouse
Top corporate entries/expansions in the market in 2006:
Coldwater Creek -- North Bethesda, McLean, Fairfax, Leesburg
Harris Teeter – Germantown
PNC
Commerce Bank
Top industrial entries/expansions in the market in 2006:
Capital Lighting and Supply -- Pennsylvania Ave., Washington, D.C., 200,000 s.f.
Whole Foods Market – Cabin Branch Dr., Landover, Md., 154,000 s.f.
Notable new office/retail/industrial projects in the market in 2006:
U.S. Department of Transportation headquarters -- S.E. Washington, D.C., 2million s.f.
South of Market -- Reston Town Center, Reston, Va., 650,000 s.f.
| Vacancy factor marketwide: | |||
| RETAIL | OFFICE | INDUSTRIAL | |
| 3% | 9.7% | 9.4% |
|
| Vacancy factor per trade area: | |||
| RETAIL | OFFICE | INDUSTRIAL | |
|
Suburban Maryland:
|
3.1% | 10.2% | 9.6% |
|
Northern Virginia:
|
2.9% | 10.5% | 5.95% |
|
D.C.
|
3.0% | 7.6% | 8.4% |
Big development buzz in the market in 2006:
The Peterson Companies – National Harbor, mixed-use development located south of Woodrow Wilson Bridge on the Potomac River near Oxon Hill, Md. Phase 1: 4 million s.f., Phase II: 3.3 million s.f. Office, retail, hotels. Phase 1 scheduled completion is April 2008.
Federal Realty Investment Trust – Rockville Town Square, Route 355 and Middle Lane in Rockville, Md. 180,000 s.f. retail, 40,000 s.f. cultural arts, 100,000 s.f. public library and 648 residential units. Completion: summer 2007 with portions opening spring 2007.
Lerner Co. – The Washington National’s new baseball stadium on the Anacostia waterfront
Biggest land sale in the market in 2006:
Buzzard Point, Reedville, VaBiggest building sale in the market in 2006:
Winkler Portfolio sold for $800 million to JBG Cos.
Retailers who have left the market in 2006:
Tower Records
Englander Furniture
Dollar General
Radio Shack, downsized
KFC, downsized
Blockbuster, downsized
Divaris Real
Estate, Inc.
11300 Rockville
Pike, Suite 704
TEL: 301.231.4877
FAX: 301.231.5854
info@divaris.com
