Since January, 2003
            
 Sliding from Before to After

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.
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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.

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Recent Crime Incidents Archive  
400 B/O K ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 07/06/20
1200 B/O HALF ST SE   THEFT
Theft First Degree (all Other Larceny)
 07/05/20
100 B/O H ST SE   THEFT
Theft 2nd Degree (all Other Larceny)
 07/03/20
100 B/O O ST SE   ROBBERY  07/03/20
400 B/O M ST SE   THEFT
Theft 2nd Degree (theft From Building)
 06/28/20
1200 B/O 1ST ST SE   MOTOR VEHICLE THEFT
Theft First Degree (Stolen Auto)
 06/25/20
1200 B/O SOUTH CAPITOL ST SE   THEFT FROM AUTO
Theft First Degree (theft From Motor Vehicle)
 06/23/20
1200 B/O NEW JERSEY AVE SE   ASSAULT WITH A DANGEROUS WEAPON
Assault W/i To Kill
 06/20/20
1000 B/O 3RD PLACE SE   THEFT
Theft 2nd Degree (all Other Larceny)
 06/18/20
800 B/O SOUTH CAPITOL ST SE   ASSAULT WITH A DANGEROUS WEAPON  06/14/20
400 B/O M ST SE   THEFT
Shoplifting
 06/12/20
1000 B/O M ST SE   ROBBERY
Unarmed Carjacking
 06/09/20
UNIT B/O M ST SE   ASSAULT WITH A DANGEROUS WEAPON  06/07/20

Recent Issued Building Permits Archive  
1300 4TH ST SE RU-2   
06/18/20 
AP BOWER RETAIL LLC / MELISSA BRENT
SG2000335 / CONSTRUCTION
Install 1 illuminated wall sign & 1 illuminated blade sign - JENIs ICE CREAM
150 I ST SE   
06/15/20 
SQUARE 737 LLC / BOB BIROONAK; NA; NA
SG2000323 / CONSTRUCTION
two illuminated building sign
151 M ST SE   
06/18/20 
BROOKFIELD PROPERTIES / CHRIS CRESCI; NA
SB2000292 / CONSTRUCTION
WSP will be advancing approximately 50 soil borings to 30 feet, and an additional 8 borings to 4 feet via direct push. A water sample will be collected from 3 of the deep borings. All borings will be abandoned via bentonite grout mix. Investigation derived waste will be stored in DOT 55-gallon steel drums. Private and public utility locating will take place prior to the work beginning
250 M ST SE   
06/19/20 
WILLIAM C SMITH / null
E2008622 / SUPPLEMENTAL
   
06/24/20 
SQUARE 769 LLC / null
M2002834 / SUPPLEMENTAL
   
06/24/20 
SQUARE 769 LLC / null
P2006931 / SUPPLEMENTAL
300 M ST SE   
06/16/20 
FEDERAL CENTER LP / null
E2008501 / SUPPLEMENTAL
   
06/18/20 
FEDERAL CENTER LP / null
E2008587 / SUPPLEMENTAL
111 N ST SE   
06/16/20 
BROOKFIELD PROPERTIES / NA; CHRIS CRESCI
SB2000293 / CONSTRUCTION
WSP will advance 22 soil borings to 25 feet and 8 soil borings to 4 feet via direst push. A groundwater sample will be collected from 2 of the deep borings by installing a temporary well to be in the ground for just a couple hours. Borings will be backfilled with bentonite / grout mix. IDW will be stored in DOT 55-gallon drums. A private and public utility mark out will be completed prior to b...
861 NEW JERSEY AVE SE   
06/10/20 
CXS TRANSPORTATION INC / ;
P2006604 / SUPPLEMENTAL
   
06/19/20 
CXS TRANSPORTATION INC / ;
P2006843 / SUPPLEMENTAL
   
06/22/20 
GREYSTAR GP LLC / KIM MITCHELL
B1903035 / CONSTRUCTION
The proposed project is three structures which are connected by a shared below-grade garage, which is one story deep on the east half of the site and two stories deep on the west half of the site. Two structures will be residential, with a total of 756 units, and the third will be a 225-key hotel. The west residential structure (Building 3) is planned to be 13 stories with ground and roof level am...
   
06/25/20 
CXS TRANSPORTATION INC / ;
P2006972 / SUPPLEMENTAL
1100 NEW JERSEY AVE SE   
06/10/20 
SQUARE 742 LLC, C/O SPAULDING & SLYE/STE 100, / PAUL WHITLEY
AN1900284 / CONSTRUCTION
PROJECT CONSISTS OF: REMOVING: (2) EXISTING EQUIPMENT CABINETS, (3) EXISTING ANTENNA'S, (1) EXISTING RRU'S AND ANCILLARY EQUIPMENT / CABLE AND INSTALLING: (6) PROPOSED ANTENNA'S, (3) PROPOSED RRU'S, AND(2) PROPOSED EQUIPMENT CABINETS ON AN EXISTING TELECOM FACILITY
1111 NEW JERSEY AVE SE   
06/12/20 
GALLERY CAPITOL RIVERFRONT PROPERTY LLC / TRACIE CLAXTON; NA; NA
SG2000257 / CONSTRUCTION
One Wall Mounted Sign illuminated
   
06/24/20 
GALLERY CAPITOL RIVERFRONT PROPERTY LLC / null
P2006938 / SUPPLEMENTAL
401 WATER ST SE   
06/18/20 
BROOKFIELD PROPERTIES / CHRIS CRESCI
SB2000294 / CONSTRUCTION
WSP will advance 23 soil borings to 30 feet and 8 additional borings to 4 feet using direct push. A groundwater sample will be collected from 2 of the deep borings by installing a temporary well. Soil boirngs will be abandoned with bentonite / grout mix. IDW will be stored for disposal in DOT 55-gallon drums. A private and public utility mark out will be completed priot to starting intrusive w...
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  
No commercial transaction records added or modified in the past two weeks.


Project Directory
Completed
Thompson Hotel ('20)
West Half ('19)
Novel South Capitol ('19)
Yards/Guild Apts. ('19)
Capper/The Harlow ('19)
New DC Water HQ ('19)
Yards/Bower Condos ('19)
Virginia Ave. Tunnel ('19)
99 M ('18)
Agora ('18)
1221 Van ('18)
District Winery ('17)
Insignia on M ('17)
F1rst/Residence Inn ('17)
One Hill South ('17)
Homewood Suites ('16)
ORE 82 ('16)
The Bixby ('16)
Dock 79 ('16)
Community Center ('16)
The Brig ('16)
Park Chelsea ('16)
Yards/Arris ('16)
Hampton Inn ('15)
Southeast Blvd. ('15)
11th St. Bridges ('15)
Parc Riverside ('14)
Twelve12/Yards ('14)
Lumber Shed ('13)
Boilermaker Shops ('13)
Camden South Cap. ('13)
Canal Park ('12)
Capitol Quarter ('12)
225 Virginia/200 I ('12)
Foundry Lofts ('12)
1015 Half Street ('10)
Yards Park ('10)
Velocity Condos ('09)
Teague Park ('09)
909 New Jersey Ave. ('09)
55 M ('09)
100 M ('08)
Onyx ('08)
70/100 I ('08)
Nationals Park ('08)
Seniors Bldg Demo ('07)
400 M ('07)
Douglass Bridge Fix ('07)
US DOT HQ ('07)
20 M ('07)
Capper Seniors 1 ('06)
Capitol Hill Tower ('06)
Courtyard/Marriott ('06)
Marine Barracks ('04)


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