WASHINGTON, DC—Farmington Hills, MI-based Beztak Properties has acquired a string of retail properties on Columbia Road for $14.2 million and is considering developing mixed-use there.
The firm acquired 1767, 1773, 1775 and 1777 Columbia Road, which is across the street from a site it had partnered with Friedman Capital Advisors LLC to turn the First Church of Christ, Scientist into a luxury hotel. However, New York City-based Sydell Group Ltd. is now leading a group of investors on that project.
"We think the Adams Morgan market is a great market, and we think there's big potential in redeveloping the properties into mixed-use," says Beztak Principal Sam Beznos said.
Current retail tenants at the properties include Radio Shack and T-Mobile. See story in the Washington Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
