Real Estate News

After more than eight years since its initial proposal, the redevelopment of the vacant Superfresh grocery store site in Northwest D.C. has officially secured the necessary financing to move forward. A joint venture between Mill Creek Residential and PGIM Real Estate has successfully obtained a $92.3 million construction loan from U.S. Bank National Association, according to documents filed last month...

Several exciting developments are underway around Howard University, with nearly 40 buildings and sites in various stages of repair, renovation, and redevelopment. These projects, in areas such as Shaw and Pleasant Plains, could open up significant development opportunities at key locations. Here are some of the notable neighborhood developments currently in the pipeline: 1. The Oliver The...

The Washington, D.C., office market concluded 2024 with positive absorption—more space occupied than vacated—for the first time since the second quarter of 2023. This trend was driven by strong absorption across both the District and Northern Virginia, totaling approximately 50,000 square feet in the fourth quarter of 2024.In the District, significant tenant move-ins contributed to this...

Only a few significant developments remain underway along 14th Street, a key corridor that was central to DC's development boom a decade ago. While new projects are limited, nearly 1,000 residential units are still planned or under construction in the area.The Faircliff and NOVEL 14th StreetTwo notable residential projects—one affordable and one market-rate—are nearing completion in...

https://terringwanggroup.com/wp-content/uploads/2024/11/Teso-Life-small.mp4 🎉 Exciting news from the Shops in Congressional Shopping Center! We're thrilled to welcome Teso Life, our newest tenant, who just opened their doors yesterday. The enthusiasm and long lines are a testament to their promising start! 🌟 But that's not all—mark your calendars this November, as two more restaurants...

"We want to make sure that everybody in Montgomery County has a place to live." This was the statement made by Council President Andrew Friedson just before cutting the ribbon at Strathmore Square in North Bethesda, Maryland.Nestled against Rock Creek Park and adjacent to the Grosvenor-Strathmore Metro station, Ravel and Royale represent the latest affordable housing development in the...

Akridge and National Real Estate Development have revealed the initial fitness and office additions to The Stacks in Washington, D.C.: Launch Workplaces, a provider of coworking and flexible office solutions, alongside a new community gym concept from Balance Gym and FLEX. Co-owned by Akridge, Bridge Investment Group, Blue Coast Capital, and institutional funds managed by National, the first phase...

The Peterson Companies have received approval to redevelop a former office site in Fair Lakes into a project featuring up to 380 new apartments, signaling an increase in residential development in the area. Fairfax County lawmakers unanimously approved the rezoning of the 4.4-acre parcel at 12801 Fair Lakes Parkway, previously occupied by the 1980s-era Parkway Woods office building, during their...

We would like to inform all residents that, effective October 1, 2024, the State of Maryland has implemented the new Renters’ Rights Stabilization Act of 2024 (RRSA). This significant legislation introduces key changes to rental agreements within the state, including the following provisions: 1. Lower Security Deposit Maximums: New limits have been established for security deposits, making renting more...

The nation's industrial market showed continued signs of slowing in the third quarter, extending a two-year cooling period following its pandemic boom. However, analysts suggest that the market may be nearing its bottom. Preliminary data from Savills reveals that the U.S. industrial vacancy rate reached 7.4% in Q3, marking a 350-basis-point increase from two years ago and representing the highest...