Tag: Washington Business Journal

Target to fill big Tenleytown retail vacancy

The vacancy left by Best Buy’s exit from Tenleytown will be filled by a retailer in D.C. expansion mode: Target. The lease between Cityline at Tenley Center Inc., an affiliate of Invesco Real Estate, and Target Corp. (NYSE: TGT) was signed Feb. 11 and recorded with the District Thursday. The 10-year lease, with six five-year […]

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D.C. FM station Mix 107.3 to be sold as part of $103.5M deal

Contemporary radio station WRQX, known as Mix 107.3, will be sold to a Christian radio media organization as part of a larger $103.5 million cash deal involving multiple stations. Cumulus Media Inc. agreed sell WRQX to Educational Media Foundation along with five other FM stations — WYAY (Atlanta), WPLJ (New York) KFFG (San Francisco), WZAT […]

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D.C. group launches new business program for single mothers

Natalie Cofield ran an entrepreneurship program for millennial moms. She led a financial literacy course for citizens released from incarceration. She launched a bootcamp for startup founders of color. The Walker’s Legacy founder’s latest initiative? Moms Who Enterprise, a six-week D.C. program to help low-income single mothers develop financial and entrepreneurship skills. “The thesis behind […]

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Peebles lines up financing for Mount Vernon Triangle hotel

D.C.’s long-planned SLS Hotel project is inching closer to breaking ground.  Developer Peebles Corp. has lined up financing with a large international lender, according to Donahue Peebles III, senior associate of development. He declined to identify the lender until the deal closes this spring.  Late last year, the financing was in question for the 175-room […]

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Local executives prod Bowser to speed up 5G regulations

Local tech executives are urging D.C. Mayor Muriel Bowser to speed up the regulatory process laying the groundwork for next-generation wireless networks — especially now that Amazon is putting a portion of its second headquarters in the region. The executives — who include Scott Case, the founder of Upside Business Travel; Legends of Learning co-founder […]

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D.C. Brau makes substitution in flagship lineup of beer

The District’s biggest brewery is making a big change to its flagship line of beers. D.C. Brau Brewing Co. is replacing its Citizen Belgian-style ale with Join Resolution, a hazy India pale ale, starting next month. The Citizen has been a part of the brewery’s flagship lineup since it opened in 2011. It will soon […]

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Aldi signs lease for largest D.C. store, in Fort Totten

Aldi has agreed to open a 25,000-square-foot store at Art Place at Fort Totten, the Cafritz Foundation’s redevelopment of the Riggs Plaza apartment complex at South Dakota Avenue and Kennedy Street NE. The store, scheduled to open in 2022, will be the German discount grocer’s second in D.C., after 901 17th St. NE, and its […]

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Chairman of massive D.C. conglomerate nominated for Academy Award

Steven Rales, the billionaire chairman of D.C.-based Danaher Corp., was nominated for an Academy Award on Tuesday. Rales received the Oscar nod as one of the producers of director Wes Anderson’s “Isle of Dogs,” which is nominated in the best animated feature film category. He shares the nomination with Anderson and producers Scott Rudin and […]

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Everything must go from the Glass-Enclosed Nerve Center

See WTOP’s Auction Items The Glass-Enclosed Nerve Center is moving, and everything must go. The Hubbard Broadcasting-owned WTOP is leaving D.C. for Maryland in early February, and the region’s leading 24/7 news-radio station is putting everything in its Idaho Avenue NW studio up for bid with Rasmus Auctions, in partnership with OLS. It is one […]

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Dan Snyder buys $100M yacht with onboard Imax theater

Any fan of Washington’s NFL team knows owner Dan Snyder is happy and willing to throw money at high-profile free agents. Snyder has now tossed some of his personal fortune into another kind of flashy purchase. And, boy, is this one extravagant. According to the Guardian, Snyder and his wife Tanya are awaiting the spring […]

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New GM named for Marriott Marquis D.C., the District’s largest hotel

There’s a new sheriff in charge of D.C.’s largest convention-hotel. Bethesda-based Marriott International Inc. (NASDAQ: MAR) has named Satinder Palta general manager of the Marriott Marquis Washington D.C., where he will oversee all operations. Palta was most recently GM of the JW Marriott, and generally bring about 30 years of experience to the job. “His […]

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State Department to stay put on C Street NW

The General Services Administration has renewed the State Department’s lease at 2200 C St. NW after ruling out potential alternative locations to the building next door to State’s main headquarters. The GSA’s lease renewal with the American Pharmacists Association, dated Oct. 11, 2018, was disclosed in documents filed recently with the D.C. Recorder of Deeds. […]

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Jair Lynch bullish on $60M eNvy condo project by — virtually over — Nats Park

Jair Lynch Real Estate Partners’ $60 million eNvy condo project is set to come online by the end of the year, offering the only for-sale residential product as close to Nationals Park as you can be without sitting in right field. The D.C.-based developer recently poured the fifth floor of its 11-story condo building at […]

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Perhaps the best falafel joint in NYC is expanding to D.C.

New York City’s popular falafel chain Taïm is coming to Georgetown. Taïm, which operates in five Manhattan locations, has agreed to lease 1,619 square feet at 1065 Wisconsin Ave. NW. H&R Retail’s Sebastian Restifo and Lawrence Hoffman represented the tenant. The fast-casual falafel company made headlines early last year when its founder, Israeli-born Chef Einat […]

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Clyde’s CEO John Laytham dies at 74

Clyde’s Restaurant Group CEO John Laytham, who worked with the stalwart Washington restaurant group for more than 55 years, died Thursday at Washington Hospital Center. He was 74.  Laytham succumbed after battling a heart condition for many years, according to a release from Clyde’s Restaurant Group.  Laytham steered Clyde’s from its first location, which opened […]

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The Warner Building has sold for nearly $380M

The Warner Building has officially changed hands. JBG Smith Properties Inc. (NYSE: JBGS) has sold the 621,000-square-foot office building, located at 1299 Pennsylvania Ave. NW, to an affiliate of CBRE Global Investors for $376.5 million, according to the D.C. Recorder of Deeds. The 13-story Warner building is the 23rd-largest office building in Greater Washington, per […]

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GWU Hospital says it’s back in the game to work toward East End Hospital deal

George Washington University Hospital said Wednesday it will resume talks to work toward a definitive agreement with the District to operate a new hospital in Southeast — a major win for the project’s supporters who feared its departure would destroy it. The hospital’s decision to continue negotiations follows the D.C. Council’s vote Tuesday night to […]

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These D.C. bar owners are willing to take a gamble on sports betting

A couple of District bar owners are cautiously optimistic about the prospect of bringing sports gambling to their respective venues. Geoff Dawson, owner of Penn Social, Rocket Bar, Buffalo Billiards, Iron Horse Tap Room and Jackpot, said he will enthusiastically pursue licenses once it’s clear how the betting model will be integrated into brick-and-mortar facilities. […]

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Daniel Snyder, District officials working with Congress on NFL stadium provision

Washington’s NFL team is working with local and federal lawmakers to place a provision in the upcoming congressional spending bill to establish a new stadium on the RFK Stadium campus in the District, according to The Washington Post. The measure would also open the 190-acre campus to commercial development by extending the District’s long-term lease […]

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Providence to keep emergency services open into the new year

Providence Health System’s closure — or at least part of it — has been pushed back. The Northeast D.C. hospital, which had planned to shut down its emergency room walk-in service Dec. 5 and all acute-care services by Dec. 14, will continue to operate its emergency department for patients with low-acute, less severe conditions through […]

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Exclusive: D.C. software firm to sell in nine-figure deal

District-based Interfolio, which makes software for college and university faculty members, is set to be acquired by Insight Venture Partners. Interfolio did not disclose terms, but a source familiar with the deal said the price was set at more than $110 million. The company will maintain its headquarters in D.C. and senior executives, including CEO […]

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