Middle Market Digest: The Mid-Atlantic

The Watergate

NEWS & NOTABLES

WASHINGTON, DC–Jefferson Apartment Group has added two team members to its Northern Virginia headquarters. Julie Contos joins the firm as director of Marketing, and Will Ikeler has joined the Asset Management Group as an asset manager. Contos has worked at JBG SMITH, Lincoln Property Co., and A.J. Dwoskin and Associates. Ikeler was with Jones Lang LaSalle’s Mid-Atlantic Real Estate Investment Banking team.

RICHMOND–Mike Early has rejoined Marcus & Millichap as first vice president investments and a director of the National Retail Group. Early will be based in the firm’s Richmond and Norfolk offices.

DEAL TRACKER

WASHINGTON, DC–Institutional Property Advisors, a division of Marcus & Millichap, has sold 57,494 square feet of retail space and a multi-story parking garage in the Watergate complex. Dean Zang, Nathan Pealer and Josh Ein represented the seller, a joint venture between Penzance and Greenfield Partners, and procured the buyer, a private Northern Virginia-based investor. The sale includes three levels of retail anchored by a CVS/pharmacy, a forthcoming KinderCare childcare center, and a 135-space parking garage.

ALEXANDRIA, VA–Joint venture partners Rubenstein Partners and Northpoint Realty Partners have unveiled their progress in the design and renovations of Carlyle Tower and the Shops at Carlyle Tower located at 2461 Eisenhower Ave. in the Carlyle submarket of Alexandria. Rubenstein and Northpoint acquired the property at the end of 2015. The approximately 365,000-square foot mixed use project will be comprised of roughly 335,000 square feet of fully-renovated office space in 14 stories, plus about 22,500 square feet of existing retail and a 7,500 square foot retail pad to be developed. The Carlyle Tower office space is being leased by Steve Hoffeditz, Andy Klaff and Ed Clark of Newmark Knight Frank, while the team of Billy Orlove and Jane Le with Rosenthal Properties are leasing the retail space, including the Shops at Carlyle Tower.