A childcare center is set to open on the ground floor of Three Ballston Plaza at 1100 N. Glebe Road, further enriching the dynamic business ecosystem in the Ballston area.
Two Birds has secured 11,000 square feet within Monday Properties’ 16-story tower, with plans to begin operations in the first quarter of 2024. This lease is structured for a lengthy 15-year term.
The building, which spans 330,000 square feet, was previously the headquarters for CACI before the company relocated to Reston in 2020. Monday Properties acquired the property in 2021 for $118 million and is currently undertaking renovations to enhance the building’s amenities.
The second floor is being transformed into a comprehensive amenity center featuring spec suites, with completion expected in the fall of this year.
In discussing the benefits of the new childcare center, Monday Properties Chief Operating Officer Jennifer Burns stated, “Two Birds is an ideal addition to Three Ballston Plaza’s dynamic tenant mix and underlines Monday Properties’ creative approach to serving the needs of our tenants and Ballston’s thriving and diverse business ecosystem.”
Further retail developments in the region include Twins Ace Hardware, which is set to occupy 8,000 square feet at The Zoe, one of JBG Smith’s National Landing apartment buildings. This new hardware store is part of a 420-unit, 19-story residential tower, and it marks an important addition to the neighborhood.
Twins Ace, based in Arlington and operated by Jeff Smith, is represented by Colliers’ Adam Schindler, while JBG Smith was represented by Rice Retail Advisors’ Amy Rice.
Additionally, the Aerospace Industries Association (AIA) has finalized arrangements to relocate within Beacon Capital Partners’ properties in Rosslyn. AIA is moving to the 26th floor of 1100 Wilson Blvd., where it has signed a lease for 20,500 square feet. This transition comes as the organization vacates its current space in another of Beacon’s Towers office buildings located at 1000 Wilson Blvd.
The move allows AIA to maintain a similar footprint, representing a stable progression for the association amid changing office landscapes. Savills’ team, including Wendy Feldman Block, Ken Biberaj, David Cornbrooks, Danielle Ferrari, and Dustin Lynch, represented the tenant, while JLL’s Yorke Allen and Lee Brinkman represented Beacon.
In recent real estate transactions, TruAmerica has acquired Chase Heritage Apartments, a 236-unit garden-style complex in Loudoun County, for $72 million. The Los Angeles-based firm purchased the property from McDowell Properties, based in Addison, Texas, and has announced plans for a value-add capital improvement program that will include interior renovations and upgraded shared amenities.
The 15-acre property at 1212 Chase Heritage Circle, constructed in 1986, has strong potential for enhanced living experiences under TruAmerica’s management.
Meanwhile, The Meridian Group has acquired a fully vacant 24-story office building named Tysons Central, located in Tysons. While the purchase price remains undisclosed, this 388,000 square foot property is adjacent to the first phase of The Boro, a massive mixed-use development project.
Tysons Central was developed on speculation by Foulger Pratt and USAA in 2022, but it has yet to secure tenants, highlighting potential opportunities for The Meridian Group.
On the financing front, D.C. has made headlines by repaying $198 million in bonds that were utilized to help finance The Wharf development. This repayment occurred 15 years ahead of the bonds’ maturity and was facilitated through incremental sales and real estate taxes generated by the successful 3.5 million square foot mixed-use project.
Finally, the H Street NE corridor has welcomed a new grocery option with the grand opening of an Aldi store occupying 25,000 square feet on the ground floor of 400-unit Avec on H Street. Jointly developed by Rappaport and WC Smith, the property features 44,000 square feet of retail space, showcasing other retailers such as Solidcore and Veterinary Emergency Group.
Rappaport’s Pat O’Meara and Zach Elcano represented the landlord in this development, while KLNB’s Bob Morris and Ryan Wilner represented Aldi.
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