September 27, 2017

StonebridgeCarras sets stage for its $300M Bethesda tower

StonebridgeCarras has set an ambitious timeline for its $300 million redevelopment of a prime corner in Bethesda, where it intends to build one of the area's tallest buildings. In a recently filed statement of justification for the 7359 Wisconsin Ave. project, Bethesda-based StonebridgeCarras said it expects a Montgomery Planning Board public hearing in January, to begin demolition of the three existing buildings at the site in the third quarter of 2018, and to deliver the project in early 2021. It’s an aggressive entitlement schedule, the statement says, in order to meet market conditions. The project involves the construction of a 250-foot-tall office and hotel project on the site of what is now Montgomery County’s Second District Police Station and several other low-rise buildings. ...READ MORE

August 28, 2017

StonebrigeCarras Announces Plans for $300M Bethesda Office And Hotel Project

StonebridgeCarras and Buvermo Investments, Inc. announced today their plans for the project at 7359 Wisconsin Avenue will include a 390,000 square foot office building and a 225 key hotel.  They have also announced that for the trophy office and hotel project: The Jones Lang LaSalle team of Trip Howell, Amy Bowser and Bernie McCarthy has been selected as the leasing agents for the office project. Pickard Chliton of New Haven, Connecticut has been retained as the Design Architect and Cooper Carry Associates has been selected as the architect of record for the project. ...READ MORE

July 10, 2017

StonebridgeCarras Aquires Final Parcel for 500k SF Downtown Bethesda Project

StonebridgeCarras and Buvermo Investments, Inc. announced today that they have closed on the land and building at 4630 Montgomery Lane in downtown Bethesda, Maryland, completing the assemblage of three parcels at the corner of Wisconsin Avenue and Montgomery Lane, resulting in one of the premier development sites in the Greater Washington Area.  Under the recently adopted Bethesda Central Business District Sector Plan, the site can be developed with up to 250 feet of height and will result in a commercial project of approximately 500,000 square feet. ...READ MORE

December 5, 2016

StonebridgeCarras to develop part of Hoffman Town Center

StonebridgeCarras is gearing up to launch a $400 million development at Hoffman Town Center in Alexandria, a mixed-use complex it sees as strong on attractions like the AMC Hoffman Center 22 multiplex but lacking in the kind of energy needed to make the most of the area. ...READ MORE

September 23, 2016

After signing massive federal lease in NoMa, StonebridgeCarras cashes out

The federal government's decision last year to ink one of the largest government leases in D.C. history has led to one of the largest investment sales this year. StonebridgeCarras and Walton Street Capitol have sold the third and fourth installments of their Constitution Square development in NoMa for $421.8 million to a partnership of MetLife and Norway's Norges Bank. The sale, which works out to about $500 per square foot, comes nearly a year after the Justice Department signed an 839,000-square-foot lease for all of Three Constitution Square and the as-yet-unbuilt Four Constitution Square. ...READ MORE

June 21, 2016

Luxury Bethesda High-Rise Sells for $207M, One Month After Opening

A JV of StonebridgeCarras and Walton Street Capital just opened 8300 Wisconsin Ave a month ago, but the partnership has already sold the nine-story, mixed-use building for a record-breaking price. The 359-unit building at 8300 Wisconsin Ave sold for $207M at an estimated roughly $520k price per unit, Bisnow has learned. ...READ MORE

June 9, 2016

StonebridgeCarras and PN Hoffman announce The Darcy and The Flats Receives National Public-Private Partnership Award

PN Hoffman announced today that The Darcy and The Flats, a mixed-use development in Bethesda, MD, received The National Council for Public-Private Partnership’s (NCPPP) 2016 Project Innovation Award for The Darcy and The Flats. This prestigious award will be presented at Venue SIX10 in Chicago on June 28th as part of the P3Connect 2016 conference. ...READ MORE

April 29, 2016

Washington Business Journal Best Real Estate Deals of 2015: The Perseverance Award - Lot 31

Today, a luxury mixed-use development sits prominently at the corner of Bethesda and Woodmont avenues in downtown Bethesda. It is the result of a decade-long process that, though ultimately successful, was fraught with obstacles and uncertainty. We now know this project as The Darcy and The Flats at Bethesda Avenue. It began as Lot 31. ...READ MORE

April 28, 2016

Washington Business Journal Best Real Estate Deals of 2015: Three and Four Constitution Square

Government agencies used to have the luxury of custom-designed headquarters, but no more.  Over the past few years, they have been required by the federal government's landlord, the General Services Administration, to shrink their footprints and consolidate operations within eco-friendly, spec-built offices. ...READ MORE

March 9, 2016

Leggett, StonebridgeCarras, and Police Chief Manger Join Other Officials for New 2nd District Police Station Groundbreaking Ceremony

Montgomery County Executive Isiah Leggett today participated in a groundbreaking ceremony for the new 2nd District Police Station. This project results from a public-private partnership between Montgomery County and StonebridgeCarras, LLC, who is constructing the new facility at 4823 Rugby Avenue in Bethesda. ...READ MORE

February 10, 2016

StonebridgeCarras to transform industrial park opposite Potomac Yard

Potomac Yard's industrial neighbor, the Oakville Triangle, is on the verge of a total transformation. StonebridgeCarras, on behalf of landowner The Blackstone Group, expects to break ground in the summer of 2017 on Oakville, a 1.5 million-square-foot development located on 13 acres bounded by Route 1 to the South, Fannon Street and Mount Jefferson Park to the west and north, and Calvert Street to the east. ...READ MORE

October 14, 2015

StonebridgeCarras’ Constitution Square Wins 839,000 Square Foot Department of Justice Lease

StonebridgeCarras announced that the U.S. General Services Administration (GSA) has awarded a 839,000 square foot, 15-year lease for the Department of Justice (DOJ) to occupy all of the Three Constitution Square and Four Constitution Square office buildings ...READ MORE

August 25, 2015

The Darcy: 'The corner of Main and Main' in Bethesda

While new condos in Bethesda and Washington seem to be sprouting on every corner like bamboo, few have a prime location equivalent to that of Darcy, a new high-rise at Woodmont and Bethesda avenues in downtown Bethesda developed by PN Hoffman and StonebridgeCarras ...READ MORE

June 25, 2015

Sneak Peek: Alexandria's Next Big Project

Across from Potomac Yards, near a future Metro stop, sits a 16-acre industrial park,  In two years though, you'll see a 1.5M SF mixed-use project that includes affordable housing and a large Central Park-style gathering place. (We can finally-recreate scenes from Home Alone 2 without schlepping all the way to New York.) ...READ MORE

November 24, 2014

Sale Closes of Flats 130 at Constitution Square in Washington, D.C.

StonebridgeCarras announced that it has closed on the $295 million sale of Flats 130 at Constitution Square, a 643-unit, Class A apartment community with a 50,000 square foot Harris Teeter grocery store in Washington, D.C.’s NOMA neighborhood. A joint venture between affiliates of StonebridgeCarras and Walton Street Capital, L.L.C. (“Walton Street”) sold the development to TIAA-CREF ...READ MORE

October 24, 2014

Leggett, StonebridgeCarras and Bozzuto Announce Agreement for Redevelopment of Downtown Wheaton

Montgomery County Executive Isiah Leggett today announced the signing of a public-private partnership agreement that will remake the downtown Wheaton Triangle. The agreement will also create a new Georgia Avenue gateway to Silver Spring with mixed-use development on the site of the current headquarters of the Maryland-National Capital Park and Planning Commission (M-NCPPC), which also houses the County’s Planning Board and Planning Department staff. ...READ MORE

September 17, 2014

StonebridgeCarras and Buvermo Investments Close on Land to Move Forward with a Public Private Project With Montgomery County for 2nd District Police Station and New Mixed-Use Development in Bethesda, Maryland

StonebridgeCarras and Buvermo Properties announced today that they have closed on the land on 4823 Rugby Avenue to construct a new 32,000 square foot state-of-the-art home for Montgomery County’s 2nd District. Upon completion of the station, projected for late 2016, the County will take possession of the new station and transfer the land for the old station at 7359 Wisconsin Avenue to the StonebridgeCarras/Buvermo venture. For 7359 Wisconsin, StonebridgeCarras is planning a mixed-use development under the guidelines to be provided in the new master plan for the Bethesda Central Business District. ...READ MORE

June 18, 2013

NAIOP Sustainable Development Award Honors StonebridgeCarras for 200 I Street Project

NAIOP, the Commercial Real Estate Development Association, today announced that it has selected StonebridgeCarras as the recipient of its annual Sustainable Development Award. The award will be presented during a special ceremony on Wednesday, October 9, at NAIOP’s Development ‘13: The Annual Meeting for Commercial Real Estate, in San Diego, Calif. ...READ MORE

April 26, 2013

Deal of the Year: The impact of Canal Park and 200 Eye St. SE on the Capitol Riverfront

Countless developers, government officials, business leaders and civic activists have played crucial roles in the evolution of Capitol Riverfront from industrial no-man’s land into one of the most sought after mixed-use neighborhoods in Washington. ...READ MORE

February 7, 2013

Harris Teeter Leases at 8300 Wisconsin Avenue in Bethesda, MD

Harris Teeter will open a 50,000 square foot full-service grocery store in Bethesda, MD under a 20-year lease announced today by StonebridgeCarras. The upscale North Carolina-based grocery chain will join 8300 Wisconsin Avenue, a mixed-use complex located at the northern gateway to the Bethesda Central Business District. The store will be located at the corner of Woodmont Avenue and Battery Lane. ...READ MORE

March 23, 2012

Nevamar plant razed to pave way for upscale apartments

StonebridgeCarras was looking to finance the building of an apartment complex in Odenton. It was 2009 and conventional bank financing for construction projects had pretty much dried up. "We were right in the middle of the financial meltdown," said George Carras, StonebridgeCarras' co-founder and co-manager. "It was virtually impossible to get financing." ...READ MORE

December 5, 2011

StonebridgeCarras, PN Hoffman join with Northwestern Mutual to undertake new mixed-use development in Bethesda, Maryland

StonebridgeCarras and PN Hoffman announced today that they have formed a joint venture with Northwestern Mutual to develop a mixed-use project in the heart of Bethesda’s prime commercial district at the corner of Woodmont and Bethesda Avenues. ...READ MORE

October 21, 2011

Stonebridge moves forward in NoMa, Bethesda

Is there such a thing as a "field of dreams" for commercial real estate developers? Douglas Firstenberg thinks so, and he is betting $150 million on it. Firstenberg and his Bethesda-based broke ground Oct. 17 on a 345,000-square-foot office building in the District’s NoMa neighborhood. ...READ MORE

October 17, 2011

StonebridgeCarras launches $150M project

StonebridgeCarras broke ground Monday on a 345,000-square-foot spec development in the District's NoMa neighborhood. Is there such a thing as a Field of Dreams for commercial real estate developers? Douglas Firstenberg thinks so, and he’s betting $150 million on it. ...READ MORE

July 1, 2011

StonebridgeCarras, Bozzuto plan $75M complex in Odenton

Two local developers are teaming up on a $75 million redevelopment of the former Nevamar formica plant in Odenton, where they’re hoping to tap into a rising demand for apartments. StonebridgeCarras and the Bozzuto Development Group plan to break ground this fall on the Flats 170 at Academy Yards, a 369-unit apartment complex at Telegraph and Annapolis roads in Anne Arundel County. The apartments are just the first phase of the 55-acre site’s redevelopment, to include more homes, shops and offices in the years to come. ...READ MORE

May 2011

Constitution Square Wins Major Industry Awards

Constitution Square is a seven acre, 2.5 million square foot mixed-use development located in Washington, DC’s NoMa neighborhood. NoMa, just blocks from the United States Capitol and the Union Station rail station, has revolutionized in the past five years from its industrial roots as a rail yard to the most vibrant new neighborhood in Washington. The recent completion of Constitution Square’s 1.6 million square foot first phase of development – office, retail, residential and hotel – has officially transformed NoMa from an emerging market into a lively mixed-use environment for businesses and residents alike. ...READ MORE

March 8, 2011

StonebridgeCarras and Walton Street Capital Acquire former Trillium Site in Bethesda – Plan Mixed-Use Development

StonebridgeCarras and Walton Street Capital, L.L.C. announced today that a joint venture of their affiliates has acquired the 1.6 acre former Trillium site located at the northern gateway to the Bethesda CBD for $29,250,000. The site, bounded by Wisconsin Avenue, Woodmont Road and Battery Lane, had been planned as a residential condominium development. ...READ MORE

February 15, 2011

Gray Administration, StonebridgeCarras Break Stone at 200 I Street, SE, Celebrate Important Public-Private Partnership for District of Columbia

District of Columbia Mayor Vincent C. Gray joined StonebridgeCarras at a ceremonial “stone breaking” event today to officially begin the redevelopment of 200 I Street, SE (formerly 225 Virginia Avenue). StonebridgeCarras, along with the District’s Department of Real Estate Services (DRES), developed the strategy of a purchase and then lease-leaseback arrangement that provides the District with the ability to transform a long vacant printing facility into 320,000 square feet of quality office space for District agencies and a public art gallery. ...READ MORE