As mentioned in this week's Washington Business Journal (subscribers only) the sale of Waterfront Station from Waterfront Associates to USAA Real Estate Co. was a runner up in the WBJ's Best Real Estate Deals of 2011. While the news on its own probably isn't of much interest, the last sentence in the description of the sale potentially is:
The sale, for about $557 per square foot, marked one of the highest per-square-foot sales in Southwest and also positioned Waterfront Associates to continue with plans to develop future phases of Waterfront Station.
In addition to the sale of the completed office buildings, the former EPA buildings were sold to Urban Atlantic in 2011, which began construction on Sky House I Apartments in February with the second building to begin later this month. Now flush with cash, perhaps Waterfront Associates may decide to move forward soon with new construction on one of their three remaining lots? There's been some chatter recently that the next phase of Waterfront Station (aside from Sky House Apartments) will begin in 2014 on the northwest parcel (slated for office or residential), followed later by the southwest and southeast parcels as office buildings. The District owns the northeast parcel and has not indicated when it will solicit a RFP for development.
While the completed office buildings are 100% leased to the District government and the urban lifestyle Safeway reportedly has the most points of sale of any Safeway on the eastern seaboard, there are still four vacant retail spaces on the ground floor. There's a 1,230 SF space available in the 1100 building and three spaces in the 1101 building (2,952 SF, 1,172 SF, and 4,130 SF). The property manager said there are no specific types of retailers they are targeting, but according to the most recent blog poll, readers would most like a dive bar, a hardware/garden store, or a fast-casual restaurant. What specific retailers would you like to see at Waterfront Station?