WASHINGTON, DC—LCOR is breaking ground on The Edison at Gateway Market, a development site acquisition it made in the city's Union Market District last summer. In a separate development the company picked up two parcels in the same submarket earlier this month for $14.3 million. It eventually plans to build those out as well, LCOR SVP Harmar Thompson tells GlobeSt.com.
Developable space is scarce in this up-and-coming part of town, he says.
"We were lucky to acquire the sites as most of the land in the Union Market District is spoken for," he says. "That doesn't mean they couldn't be assembled -- but it would be difficult."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
