WASHINGTON, DC—Brightwood has been a sleepersubmarket in the District, finally catching the attention ofinvestors when Walmart opened its new store at the corner of GeorgeAve., NW and Missouri Ave., NW, at the end of last year.

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The Georgia Avenue Walmart, developed by Fougler-PrattCos., is no ordinary big box: it features rain garden,green roof, a Capital Bikeshare station and electric car plug-in.Open six months, this Walmart "is creating retail traffic whichwill eventually snowball into a more diverse mix of retail in thiscorridor, and the future retail will drive rent growth in thissubmarket," says Marcus & Millichap's MartyZupancic.

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Then there is the transformation of the old Walter ReedArmy Medical Center, about half a mile away. The cityrecently gave the go-ahead to the Hines-UrbanAtlantic proposed plan's "The Parks at Walter Reed" tobuild 90 townhouses and duplexes, 502 condos and 1,287 rentalapartments and a full-service senior center with 182 homes.

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All of this activity has, not surprisingly, translated into aprice premium for smaller assets in the submarket.

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1224 Missouri Avenue NW, a six-unit apartmentproperty located a block away from the Georgia avenue Walmart, hastraded for $767,000, or $127,833 per unit—a newhigh sale comp for this submarket, according to Marcus &Millichap, which brokered the sale.

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Grant Fitzgerald had the exclusive listing tomarket the property on behalf of the seller, a private investor.The buyer was a limited liability company that Fitzgerald securedand represented.

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The building is zoned R-5-A and is sited on 2,691 gross squarefeet of land.

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