“Three Restaurants, NoMa’s First Full-Service Bank To Join 50,000 SF Harris Teeter in Late 2010
Washington, D.C., February 16, 2010… StonebridgeCarras, developer of Constitution Square in Washington, D.C., today announced the signing of five key retail leases that will greatly expand the 1.6 million square foot project’s amenities and solidify its status as the nexus of the rapidly developing NoMa (north of Massachusetts Avenue) neighborhood. The following retailers will join the 50,000 SF Harris Teeter grocery store scheduled to open later this year:
* TD Bank with NoMa’s first full-service banking facility (5,200 SF)
* Potbelly Sandwich Works restaurant (2,500 SF)
* Tynan Coffee & Tea café (2,100 SF)
* Constitution Café restaurant (6,000 SF)
* Georgetown Valet drycleaner (1,100 SF)
Press release continues after the jump.
“These retail leases for Constitution Square emphasize the strength and vitality of the NoMa submarket,” remarked StonebridgeCarras Principal Doug Firstenberg. “We are thrilled to bring so much new activity to the area, and to help NoMa strengthen its position as an exciting new live-work-play neighborhood in the nation’s capital. Constitution Square is providing much-needed and desired retail services for the daytime employees and permanent residents of NoMa.”
“We are really pleased with quality and the diversity of these retail tenants coming to Constitution Square – it is a testament to the location and scale of the project,” added Billy Orlove of JBG Rosenfeld Retail of Chevy Chase, MD, who serves as retail leasing agent for Constitution Square along with JBGR’s Bob Schwenger. “We look forward to finalizing agreements with our current prospects under lease negotiation for more than 50% of the project’s remaining retail space.”
“These new restaurants and retailers will provide convenient and quality amenities to the 5,000 new employees moving to NoMa this year, as well as residents of the 750 apartments delivering over the next few months,” commented Elizabeth Price, President of the NoMa Business Improvement District (BID). “After signing over one million square feet of new leases in 2009, 2010 is shaping up to be another big year for NoMa.”
Jeff Edelstein of Roadside Development (Washington, D.C.) represented Potbelly in the lease transaction; Andrew Segall of Segall Group (Pikesville, MD) represented TD Bank; Jeff Handler of Asadoorian Retail Solutions (Washington, D.C.) represented Tynan; and George Petros of Papadopoulos Properties (Washington, D.C.) represented Constitution Café.
The first phase of Constitution Square, scheduled to deliver in 2010, will total 1.6 million SF of mixed-use space located adjacent to the New York Avenue Metro station at First and M Streets, N.E. One Constitution Square has pre-leased 288,255 SF of its 330,000 SF of office space to the U.S. General Services Administration (GSA) for headquarters swing space. Two Constitution Square has pre-leased all of its 575,000 SF of office space to GSA for Department of Justice offices. Constitution Square’s 80,000 square feet of street-level retail space is now 84 percent pre-leased to Harris Teeter and the five new retail tenants. Completing the project’s first phase will be a residential building with 440 apartment homes and a 204-key Hilton Garden Inn Hotel to be owned and operated by an affiliate of OTO Development of Spartanburg, SC. Constitution Square is a joint development of affiliates of StonebridgeCarras of Bethesda, MD and Walton Street Capital of Chicago, IL.”