Sunday, March 19, 2017

Cotton Annex Sold

The auction of the historic Cotton Annex building at 12th and C streets by the GSA was completed last month and it was revealed this week the winning bidder was Douglas Development. Due to some sleuthing by the Washington Business Journal, they figured out a new company called Jemal’s Cotton Annex LLC was filed with the District Department of Consumer and Regulatory Affairs. Douglas’ bid for the property was $30.3 million. 

During an interview with Bisnow, Douglas Development’s Norman Jemal did not reveal its intended use for the building. From the article: 
"We loved the location," Jemal said. "It's a block away from Metro and Southwest is absolutely going through a renaissance and the tide is rising. We want to be a part of that rising tide. We have some very exciting ideas for it." 
Douglas Development’s other holdings in Southwest include a block of one-story retail buildings on the 1200 block of South Capitol Street and a large office building at 1900 Half Street in Buzzard Point, the latter of which will be redeveloped as a 462-unit rental apartment building with ground floor retail. Elsewhere in the city, the company has specialized in redeveloping historic structures or incorporating them in new development, including commercial buildings near the Verizon Center in Chinatown (now retail and office space), the Hecht warehouse in Ivy City (now apartments), and the Uline Arena in NoMa (now a flagship REI store and offices). 

With its location a block from the Smithsonian Metro and the National Mall, just off an exit ramp from the 12th Street Expressway, and within walking distance of the Portals and District Wharf, there is potential for the redevelopment of the Cotton Annex. What do you think Douglas Development should do with the Cotton Annex building and adjacent land? Vote in the poll on the left sidebar or leave a comment.


SWag said...

lot of retail votes. retail.. and..... what else? the building is massive and has an attached lot (which will most certainly be redeveloped as well).

I like the idea of a boutique hotel in the existing structure (a la the Jefferson), and ultra modern condos in a nice glass building on the lot.

I always say that area (not sure what you call it) of SW is super untapped, but likely up next for a massive redevelopment.

Anonymous said...

Douglas is also known for sitting on vacant properties for a very long time. I'll certainly grant that the renovations are very well done, but it's also sad to see places like downtown Riverdale Park which are empty and plastered with identical Douglas for-rent signs.

Residential in that location is a tough sell, given that there aren't many shops within walking distance. A hotel comes with a captive audience for the amenities it brings.

Wizzyliz said...

I'd like a great big TRADER JOE'S!!!!!

SWag said...

By process of elimination we have to assume TJ's is coming to the Wharf. Safeway (check), Harris Teeter (check), Whole Foods (check), Trader Joe's (___). They said they were gonna have a grocery store. Well what's left?!?

Unknown said...

@SWag, Could be Balducci's or Dean & Deluca. Wegman's would be awesome but it (along with H Mart and similar) probably want more space and parking than the Wharf has to offer. It's not impossible that there would be a TJs at Eastern Market and one 3 metro stops away, but there are other options (I have no idea who is being considered).

Personally, I love Shopper's and wish there was one in DC, but I know that's not a likely Wharf tenant.

SWill said...

@SWag, you mean this one:

I heard Dean & Deluca is coming to Navy Yard, so I doubt they would also open one at the Wharf.

SWag said...

@SWill haha. You called it a long time ago.

@Stacy Baldacci's would be fine with me. Never really considered that. It would almost fit better...