WASHINGTON, DC-The NoMa submarket snagged another retailer: CVS has signed a 20-year lease for 9,379-square feet in Capitol Plaza. It is the first retail tenant at 1200 First St., NE.
Managed by Polinger, Shannon & Luchs, Capitol Plaza is a fully-occupied, 290,000-square-foot office building that delivered in 2006. The lead tenants are the District of Columbia Public Schools and the District Department of the Environment. The building is owned by an affiliate of Polinger Co. and Area Property Partners.
Retail in NoMa has been steadily increasing as more and more office tenants take space there. The next step is begin attracting retail that will serve the growing residential market--meaning, retail that will remain open in the evenings and on weekends. Recently, more than 300 students moved into the Washington Center’s student housing facility, and the Loree Grand at Union Place begins leasing June 1.
Other recent retail leases in NoMa were inked at Constitution Square. These include TD Bank--which will be NoMa’s first full-service banking facility--at 5,200 square feet; Potbelly Sandwich Works restaurant at 2,500 square feet; Tynan Coffee & Tea caf
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