July 25, 2018

Wegmans, NSF Driving New Wave Of Development On Alexandria's Eisenhower Avenue

Alexandria's Eisenhower Avenue corridor has grown significantly since the U.S. Patent and Trademark Office moved nearly 10,000 employees there in 2005. Now, with the National Science Foundation bringing 4,000 more workers and popular grocer Wegmans signing on, the corridor is poised for another major wave of development. Near the Parc Meridian building, Paradigm is planning a mixed-use development with a 25-story, 404-unit apartment tower and a 10-story, 184-room hotel. The developer is still going through the design process and hopes to break ground by late 2019. The development would then deliver around the same time Wegmans plans to open a few blocks away at StonebridgeCarras' Hoffman Town Center project, another potential demand driver for the area. "Wegmans is a really quality grocer, and a lifestyle grocer that we think our residents will really like; we think it's good for all of the projects down there," Sloter said. "We've done well at Eisenhower for many years and feel like the whole plan is starting to come together. I think the synergy will make this much more attractive competing against other residential in the region." ...READ MORE

May 22, 2018

StonebridgeCarras and Donohoe Announce Plans for 175,000 SF Development in Bethesda, Maryland

StonebridgeCarras and The Donohoe Companies announced plans today for their project at 8280 Wisconsin Avenue which will focus its 175,000 square feet of commercial space on bringing life sciences to the Bethesda Central Business District (CBD). StonebridgeCarras and Donohoe’s vision for the project is to capitalize on two converging trends: employers locating their offices in live, work and play environments with access to mass transportation; and life sciences companies co-locating near thought leaders and institutions driving research and advancement. “The Bethesda CBD has continued to demonstrate its great success in attracting a wide range of companies to its premier mixed-use environment,” said Douglas M. Firstenberg, a Principal with StonebridgeCarras. “Further, it represents one of the most attractive untapped markets to locate life sciences near two world-class institutions at the northern edge of the Bethesda CBD – the National Institutes of Health and the Walter Reed National Medical Center.” ...READ MORE

May 9, 2018

BlackRock Buys Flats At Bethesda From StonebridgeCarras, PN Hoffman

StonebridgeCarras and PN Hoffman are cashing out of a luxury Bethesda apartment project they jointly developed in 2015. The developers sold the 162-unit Flats at Bethesda to a fund managed by BlackRock Real Assets. The sale closed for $143.5M, according a source familiar with the deal. HFF's Stephen Conley, Sue Carras, Walter Coker, Brian Crivella, John Owendoff and Jorden Lex brokered the deal. The property, at 7170 Woodmont Ave., includes 40K SF of ground-floor retail that is fully leased to Pottery Barn, PassionFish, Silver, Chop't, Paul and Long & Foster Real Estate. It sits across the street from the Bethesda Row retail center. The ...READ MORE

April 30, 2018

StonebridgeCarras and Donohoe Propose 145-Foot-Tall Bethesda Office Project

StonebridgeCarras is adding to its Bethesda development pipeline with a 145-foot-tall Woodmont Triangle office building.  The developer, in partnership with Donohoe Cos., submitted a sketch plan application with Montgomery County for a 185K SF office building at 8280 Wisconsin Ave., Bethesda Magazine reports. The plan calls for a 145-foot-tall office building with up to 185K SF on the 0.44-acre site. It would also have 110 parking spaces and about 750 SF of open space along Wisconsin Avenue.  ...READ MORE

April 18, 2018

StonebridgeCarras Closes on Key Parcels for $350M Hoffman Town Center

A joint venture between StonebridgeCarras and Chicago-based Creek Lane Capital announced Wednesday it has purchased 5 acres in Alexandria for its Hoffman Town Center project, allowing the companies to move forward on construction on the 1 million-square-foot mixed-use development anchored by a Wegmans grocery store in early 2019.  Doug Firstenberg, a principal with Bethesda's StonebridgeCarras, declined to disclose the price that the joint venture paid for blocks 4 and 5 from the Hoffman family. But he said the companies have been under contract to buy the properties, which will encompass the northern-most point of retail activity for the project, for about two years. ...READ MORE