WASHINGTON, DC-The 120,000-sf retail portion of the Portals, a three-million-sf mixed-use development along the Potomac River, has been assigned a team to handle leasing activities. Republic Properties has called on Eric Rubin and Chris Harlepp at Madison Retail Group to take on the responsibility. The retail space, the first segment of which is scheduled for availability delivery next year, is being marketed for $30 to $45, triple net.
A $1-billion multi-phase development sited on approximately 11 acres, the Portals is the largest commercial project in Washington, DC's history. The property is already home to the 400-room Mandarin Oriental Hotel, and will ultimately feature a total of 2.5 million sf of office space.
"The project has often been cited for its architecture and as one of the best entrées into the District," Rubin says. "Our retail strategy will build on these assets, the strength of the tenants and local market, as well as restaurants at the Mandarin." Harlepp tells GlobeSt.com that most of the leasing is expected to be completed within the next 18 months and "hopping solidly by 2008."
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