Near Southeast DC: Past News Items - Apr 27, 2007
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Nation and Sunoco Sites to Change Hands?
Apr 27, 2007 10:36 AM
From today's print edition of the Washington Business Journal (subscribers only for now), word arrives of two big Near Southeast real estate transactions: Opus East, developer of 100 M Street, is on track to purchase the 1015 Half Street/Nation site from Potomac Investment Properties (the story says Republic Investment, but I don't think that's correct). And Monument Realty is reportedly adding to its vast Hood holdings by buying the old Sunoco lot at 50 M Street. (I have heard rumors of these two items for weeks/months, but it turns out what I was hearing wasn't 100% accurate--score one for waiting for confirmation) The article says that Opus plans to retain the plans for a 440,000-sq-ft office building with retail on the Nation site, and are rumored to be paying $100 a square foot; Monument has not disclosed what it might do with the Sunoco site or what it's paying. The article also has some vague mention of some other transaction on the "corner of Half and K", but doesn't say which corner (the northeast and northwest ones are the two possibilities), or who's buying it. More on these transactions (such as actual prices) as I get it. (And yes, I'll have photos of the Nation demolition as soon as the sun comes out.)



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