Since January, 2003

Ad by Google
 (a random before-and-after moment)
February 11, 2007
April 26, 2015
South Capitol at K, Looking Northeast (see more)

Deeds have been recorded this afternoon indicating that the Ruben Companies has bought the two empty Exxon lots on South Capitol Street, at I Street SE and K Street SW.
The purchase of the 35,000-square-foot lot at South Capitol and I gives Ruben control of the entire block known as Square 697N; the company picked up the other 47,000 sq ft of the block back in 2009 after developer JPI defaulted on its loan for what was then the site of a Wendy's restaurant.
The other lot Ruben bought from Exxon, just south of the Capitol Skyline Hotel at South Capitol and K streets SW, is about 31,000 square feet and also gives the company control of that entire block, known as Square 648, after Ruben bought the other two lots in 2005 and 2007.
This now makes four sizeable sites that Ruben owns on this three-block stretch of South Capitol Street, since the company also owns 1100 South Capitol St. SE and 1101 South Capitol St. SW across the street, both of which are being marketed as office buildings.
The South Capitol and I Exxon closed down back in 2006, when the station's operator pleaded guilty to fradulently double-billing government contractors more than $120,000.
I don't know any more specifics about the sales at this point, and it's unlikely any buildings will be immediately sprouting on either site. But it is yet another bit of commercial development news that would seem to indicate that the worst of the downswing is past.
Comments (8)
   
 
 More About 23 I

JDLand.com Home

Comments

MJM says: (7/5/11 11:28 PM)
Guess that is good news but now they can say they own them and do nothing with them for X # of years now. Hopefully they actually bought the land with an intent to build something on them. This financial crisis excuse is getting old going on three years especially in this area. Maybe we can get the companies west of the river to buy and develop since they have no problem doing that along the Orange Line unlike our companies here who can't seem to build or lease their projects. Just had to vent.


monkeyrotica says: (7/6/11 8:10 AM)
Most gas station sites are a nightmare to clean up. They're almost as bad as dry cleaners. I wouldn't look forward to any upscale eateries any time soon.


GaryRKarr says: (7/6/11 9:20 AM)
Word is they plan to put in a restaurant where the main supplies are sauerkraut, corned beef, swiss cheese and rye bread. Ruben's Reubens.


DC says: (7/6/11 9:45 AM)
MJM - your "vent" while perhaps sarcastic in nature illustrates a view devoid of reason and that is also representative of the type of "irrational exuberance" that assisted in creating the lending environment we have today - maybe going forward try thinking before venting

Gary - hilarious


NJA1000 says: (7/6/11 10:08 AM)
Are the gas stations classified as brownfields? If so, they could take a while to clean up before anything could be built on them.


MJM says: (7/6/11 1:44 PM)
DC - what I thought about is this: why are the companies that aren't present in Near-SE but are present in Arlington able to get finacing for projects in Arlington? The companies that rushed into the Near-SE land grab didn't have their books in order. FCE got hammered and just now coming back. Opus went under. Akridge - not sure what they are doing with their prime platforms. Monument's giant hole tied to Lehman. Cohen and the sculpture boxes and now rain garden (like the rain garden but that's sad you have to give land for a rain garden because you can't get money to build). We are stuck with companies in Near-SE that are still impacted by the crisis yet other parts of the city/region have companies that apparently weren't too impacted by the crisis and are building buildings like its 2007.

I would like to see companies be cautious but to buy the land and let it sit for 10 years and blame the crisis is just wrong at this point.


Alan says: (7/6/11 4:45 PM)
Well this explains the survey/property line posts and flags on the perimeter of the Wendy's lot. What I can't figure out is why DDOT removed the parking meters (concrete bases included) from Half between I and K. They also pulled the bases from the North side of I between Half and NJ Ave; the meters were never installed. Is residential parking being implemented?


jenniferp says: (7/11/11 4:25 PM)
MJM - rental rates in Arlington are going through the roof. It's the only submarket in the metropolitan area that has seen actual rent increases. These buildings under construction in Rosslyn are supposedly looking for rents in the $65+/sf range (and it may very well be higher). The Ballston project JBG has under construction only wants about $52/sf, but JBG had a tenant for one of the properties (Virginia Tech I think) and they started the project with all equity, thinking they could get debt financing after they finished the parking garage. Our rental rates for office in the new properties are in the low to mid $40's/psf which doesn't really justify new construction yet. Lerner's deal to fill his building with Bureau of Land Management was $34/psf, so at the moment he's losing a considerable amount of money on that building. We also have yet to attract "private" tenants, we're all pretty much GSA and associated contractors. They always have a lower rental threshold. I think GSA is currently capped at $48/psf in the District and after the SEC debacle, I don't think we'll see too much non-prospectus (needing Congressional approval) leasing for awhile. GSA leased a tremendous amount of space in the District over the last two years, out of the 3M SF of net absorption in 2010, they were reportedly responsible for about 2M SF of that and conventional wisdom (and the latest stats) say that gravy train is over.

Once they can get bank financing though, I'm sure they will start building again - developers are the ultimate optimists.

Add a Comment:

Comments are closed for this post.

JDLand Comments RSS Feed

See All Current News Items | Full Blog Archive

 

JDLand.com's Official Unofficial Guide, Updated for 2015!
 Top News
  
ttassa on Looking Ahead: Hoping there is more of an iconic look to this building once it is built. In som...
BLT on This Week/the Ballpark: @jd: You can access the new team store during the day; the fences have been adj...
202_cyclist on Hill Country Launching: As per the Capitol Hill yahoo listserve: Mayor Announces “District Innovation Z...
202_cyclist on Hill Country Launching: I wish the construction contractors at the lots in the neighborhood would adhere...



City Government Data for Near Southeast Records added or updated recently displayed here; click the "archive" links to see additional detail and older records. All data from DC Government databases and RSS feeds. JDLand takes no responsibility for errors, omissions, etc. (read CapStat disclaimer). Data is retrieved daily.

Recent Crime Incidents Archive  
100 B/O L ST SE   THEFT F/AUTO
 05/15/15
200 B/O I ST SE   THEFT
2nd Degree
 05/15/15
1000 B/O 7TH ST SE   THEFT F/AUTO
 05/12/15
70 B/O I ST SE   THEFT
Theft 1st Degree
 05/09/15
1100 B/O 2ND ST SE   MOTOR VEHICLE THEFT
Unauthorized Use Of Vehicle
 05/05/15
UNIT B/O I ST SE   BURGLARY
2nd Degree Burglary (Armed Or Otherwise)
 05/02/15
1000 B/O 8TH ST SE   THEFT F/AUTO
 05/01/15
1100 B/O NEW JERSEY AVE SE   THEFT
2nd Degree
 04/26/15
1100 B/O NEW JERSEY AVE SE   THEFT
Theft 2 (Theft F/Building)
 04/25/15
   THEFT
Theft 2 (Theft F/Building)
 04/23/15
400 B/O M ST SE   THEFT
2nd Degree
 04/22/15

Recent Issued Building Permits Archive  
1011 1ST ST SE   
05/14/15 
COLIN CLARK / MICHAEL BIANCO; COLIN CLARK; MITCH PERMUY
E98099105 / SUPPLEMENTAL
1200 1ST ST SE   
05/12/15 
FOREST CITY WASHINGTON / WILL TEASS / PE TEASS - WARREN ARCHITECTS; WILL TEASS TEASS
BCIV1500073 / CONSTRUCTION
INSTALLATION OF EROSION SEDIMENT CONTROL FEATURES
1277 1ST ST SE   
05/15/15 
ANCHOR CONSTRUCTION
AH1500439 / CONSTRUCTION
EXCAVATION CATCH BASINS MANHOLE INSTALLATION SEWER ML TRENCH SEWER SERVICE LATERAL ABANDONMENT INSTALLATION OF VAULTS WATER LATERAL CONNECTION OVER 2 INCHES WATER SERVICE LATERAL ABANDONMENT WATER METER MANHOLE
1150 5TH ST SE   
05/04/15 
DISTRICT OF COLUMBIA / DOUGLAS FOSTER
D1500504 / CONSTRUCTION
SELECTIVE DEMOLITION FOR 49 500 SF.OF SPACE FOR DISTRICT OF COLUMBIA PUBLIC SCHOOL.
1007 8TH ST SE   
05/21/15 
CALLE OCHO LLC / ALAN W. CARTER
E1506005 / SUPPLEMENTAL
1015 HALF ST SE   
05/06/15 
HALF ST SE LLC / KRISTINA DELGADO
B1506055 / CONSTRUCTION
REVISION TO PERMIT NUMBER B1501688
   
05/12/15 
HALF ST SE LLC /
P1505751 / SUPPLEMENTAL
   
05/20/15 
HALF ST SE LLC / JOSEPH J FLYNN
E1505972 / SUPPLEMENTAL
1256 HALF ST SE   
05/05/15 
HALF STREET RESIDENTIAL PJV LLC / ANDREW WILLINGHAM BOHLER ENGINEERING; ANDREW WILLINGHAM
BCIV1500047 / CONSTRUCTION
PROPOSED ALLEY WORK WILL CREAT A 10' WIDE BENCH ON PRIVATE PROPERTY. WILL CASUE REGRADING AND RELOCATION OF EXISTING SHEETING AND SHORING.
82 I ST SE   
05/13/15 
GREYSTAR DEVELOPMENT GREYSTAR DEVELOPMENT / MARKO CZERKAS; GREYSTAR DEVELO GREYSTAR DEVELOPMENT; MITCH PERMUY
E77539507 / SUPPLEMENTAL
306 L ST SE   
05/14/15 
MICHAEL THOMPSON
B1507715 / CONSTRUCTION
FIRST EXTENSION TO PERMIT# B1311538 TO EXPIRE 10 / 17 / 2015
601 L ST SE   
05/05/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / EDUARDO L. LOPEZ
E1505414 / SUPPLEMENTAL
55 M ST SE   
05/21/15 
HINES GLOBAL REIT / JOHN GIUSEPPE-RAMCO
B1507922 / CONSTRUCTION
RENOVATIONS FOR EXPANSION OF 3RD FLOOR OFFICE SPACE GREAT MINDS AS SHOWN ON THE ATTACHED MECH. ELECT. FIRE PROTECTION DEMOLITION AND ARCH. DWGS. INTERIOR WORK ONLY. NO PLUMBING OR STRUCT. WORK INVOLVED.
80 M ST SE   
05/08/15 
WELLS REIT II 80 M STREET LLC / JOHN GIUSEPPE-RAMCO
B1504197 / CONSTRUCTION
RENOVATION TO 5TH FLOOR OFFICE SPACE TASC PHASE II AS SHOWN ON THE ATTACHED MECH. PLUMB. ELECT. FIRE PROTECTION DEMOLITION AND ARCHITECTURAL DWGS. INTERIOR WORK ONLY. NO CHANGE IN USE.
20 M ST SE   
05/05/15 
SOUTHEAST REALTY LLC / SAM HOLLEN RAMCO OF DC INC.
B1507131 / CONSTRUCTION
INTERIOR RENOVATION TO 7TH FLOOR OFFICE SPACE. PARTITIONS MECHANICAL ELECTRICAL AND LIFE SAFETY. BOOZ ALLEN HAMILTON
55 M ST SE   
05/04/15 
HINES GLOBAL REIT 55 M STREET LLC / GREGORIA G. ISRAEL
E1505446 / SUPPLEMENTAL
   
05/07/15 
UNKNOWN UNKNOWN / PATRICK BARRON; UNKNOWN UNKNOWN; ROBIN MALLEY
E92336177 / SUPPLEMENTAL
80 M ST SE   
05/12/15 
WELLS REIT II 80 M STREET LLC / RONNIE E WRIGHT
E1505712 / SUPPLEMENTAL
   
05/12/15 
WELLS REIT LI 80 M STREET LIC / FRED MILLER; WELLS REIT LI 80 M STREET LIC; DOMINIC TOTARO
AR28204267 / SUPPLEMENTAL
   
05/13/15 
WELLS REIT II 80 M STREET LLC WELLS REIT II 80 M STREET LLC / NEIL NUTWELL; WELLS REIT II 8 WELLS REIT II 80 M STREET LLC; NEIL NUTWELL
P21967258 / SUPPLEMENTAL
100 M ST SE   
05/07/15 
SQUARE 743 INC. / JOHN GIUSEPPE-RAMCO
B1506295 / CONSTRUCTION
RENOVATIONS TO EXISTING 8TH FLOOR OFFICE SPACE TECH-MARINE BUSINESS AS SHOWN ON THE ATTACHED THIRD PARTY REVIEWED AND APPROVED MECH. PLUMB. ELECT. FIRE PROTECTION AND ARCH. DWGS. BY KTA GROUP. INTERIOR WORK ONLY. NO CHANGE IN USE NO STRUCT. WORK.
   
05/08/15 
SQUARE 743 INC / ROB HOHL
P1505689 / SUPPLEMENTAL
   
05/08/15 
SQUARE 743 INC / GEORGE S OWEN
M1501845 / SUPPLEMENTAL
   
05/09/15 
SQUARE 743 INC / JOSE UMANZOR-ALVAREZ; SQUARE 743 INC; ROBERT LAWALL
E99685352 / SUPPLEMENTAL
   
05/13/15 
UNKNOWN UNKNOWN / PATRICK BARRON; UNKNOWN UNKNOWN; ROBIN MALLEY
E65875186 / SUPPLEMENTAL
   
05/21/15 
SQUARE 743 INC. / ANDREW ARNTSON; SQUARE 743 INC.; ANDREW ARNTSON
P90727311 / SUPPLEMENTAL
1201 M ST SE   
05/06/15 
WASHINGTON GAS LIGHT CO / BERNARD G KALB
E1505525 / SUPPLEMENTAL
909 NEW JERSEY AVE SE   
05/07/15 
909 NEW JERSEY AVENUE ACQUISITION LLC / MATT LOSIGNOR
P1505667 / SUPPLEMENTAL
1100 NEW JERSEY AVE SE   
05/06/15 
NAVY YARD 10127312 / VELOCITY WIRELESS
AN1500153 / CONSTRUCTION
REMOVE AND REPLACE 3 EXISITING PANEL ANTENNAS
125 O ST SE   
05/04/15 
DC WATER / MARIA WILSON
B1507037 / CONSTRUCTION
AMEND PERMIT B1402631 TO CHANGE SOME INTERIOR PARTITION WALL LAYOUT.
   
05/06/15 
DISTRICT OF COLUMBIA / JAMES A. WILLIAMS
E1505521 / SUPPLEMENTAL
25 POTOMAC AVE SE   
05/15/15 
BARR CONCRETE
AH1500438 / CONSTRUCTION
AFTERHOURS TO POUR CONCRETE WITH PUMP TRUCK FROM 11PM 5 / 15 / 2015 TO 1159 PM 5 / 16 / 2015
1200 SOUTH CAPITOL ST SE   
05/14/15 
AMY PHILLIPS / MIKE YASEK
SB1500274 / CONSTRUCTION
FIVE 75-FOOT GEOTECHNICAL SPT SOIL BORINGS WILL BE PERFORMED WITH AN AUGER DRILLING RIG UTILIZING CONTINUOUS FLIGHT HOLLOW STEM AUGERS CREATING APPROXIMATELY 6-INCH DIAMETER BOREHOLES.
1230 SOUTH CAPITOL ST SE   
05/21/15 
PUBLIC STORAGE INSTITUTE FUND / BRAD FLEEGLE
AN1500143 / CONSTRUCTION
REPLACE 3 ANTENNA SUPPORT FRAMES INSTALL 3 ANTENNAS ? 3 RRUS ON EXISTING ROOFTOP.
1244 SOUTH CAPITOL ST SE   
05/11/15 
1244 SOUTH CAPITOL RESIDENTIAL L.L.C. / ROBERT S. WATTS
E1505679 / SUPPLEMENTAL
1500 SOUTH CAPITOL ST SE   
05/21/15 
JOHN GIUSEPPE / DONALD VEALS; JOHN GIUSEPPE; DONALD VEALS
E55177883 / SUPPLEMENTAL
301 WATER ST SE   
05/12/15 
FC LUMBER SHED LLC /
P1505749 / SUPPLEMENTAL
   
05/19/15 
LUMBER SHED LIC. / ROBERT WATTS; LUMBER SHED LIC.; ROBERT WATTS
E82501860 / SUPPLEMENTAL
355 WATER ST SE   
05/06/15 
FRIDAY NIGHT CONCERT SERIES / LINDSEY GORE
TN1500047 / CONSTRUCTION
SPECIAL EVENT FRIDAY NIGHT CONCERT 1 16 X 24 TENT NO GENERATORS 1 16 X16 STAGE
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

Real Property Sales Archive  
1022 - 1109 M ST SE   03/27/15
$ 5,000,000
WASHINGTON HUMANE SOCIETY
 
9TH ST SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
POTOMAC AV SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
POTOMAC AV SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
POTOMAC AV SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
1103 9TH ST SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
1105 9TH ST SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
816 POTOMAC AVE SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 
0819R L ST SE   03/03/15
$ 3,730,000
818 POTOMAC AVENUE SE LLC
 


Project Directory




     © Copyright 2015 JD.