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Union Market Investor Buys Property To Get Foothold As Rents Appreciate

WASHINGTON, DC--The new owner of 1261 4th St., SEm, paid $36,000 over list price.

1261 4th St., SE 1261 4th St., SE

WASHINGTON, DC–A local owner of a retail/wholesale business has acquired a 2,880-square foot retail property in the District, paying $36,000 over its list price. The property will under lease for the next three years, which means the business won’t be able to expand its operations until then.

But that is perfectly okay. For starters, the owner already has a few other buildings in the neighborhood, Union Market — the latest emerging submarket in the District to exhibit real promise.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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