M id A tlantic Real Estate Journal —December 23, 2022 - January 19, 2023 — 3A
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Former RCA building makes way for residential towers and 11,000 s/f of retail JAG closes on site for new luxury high-rise overlooking Georgetown
RLINGTON, VA — Jefferson Apart- ment Group (JAG) , along with joint venture part- ner Mitsui Fudosan Ameri- ca Inc. (MFA) , has closed on the purchase of 1901 N. Moore St. in Arlington—the former RCA Building—which has been approved for redevelop- ment as a 27-story mixed-use luxury high-rise at the foot of the iconic Key Bridge, connect- ing Northern Virginia and the fashionable Georgetown neigh- borhood of Washington, DC. JAG, a multifamily devel- oper and operator specializing in premier apartment commu- nities on the East Coast, plans 422 units across two towers, including penthouse units. The residences will include studio to 3-bedroom and den units, ranging in size from 435 s/f to 2,141 s/f. 1901 N. Moore is on 1.04-acres situated at the corner of 19th and North A
amenities package with views of the nation’s capital, Na- tional Cathedral, and Potomac River. “We couldn’t ask for a better location in Rosslyn, literally on the doorstep of Washing- ton, DC,” said Greg Van Wie , JAG senior vice president and development partner. “We’ve been working on the vision for 1901 N. Moore for several years and closing on the pur- chase sets in motion redevel- opment of this underutilized property into a one-of-a-kind mixed-use community with iconic architecture that we are immensely proud to bring to Arlington.” A glass skybridge—complete with a glass floor allowing birds-eye views of the elevated plaza over 200 feet below—con- nects the two residential tow- ers and is a showcase commu- nity amenity. The skybridge features a clubroom with full kitchen, private dining room,
fireplace, gaming area—and sweeping views. The rooftop features a re- sort-style pool, entertainment deck, and a 360-degree obser- vation deck with unobstructed views. A leading edge 2-story fitness center offers an ad- joining outdoor workout ter- race. Other amenities include full-time concierge service, a soaring two-story lobby with a grand staircase, co-working space, bicycle storage and tun- ing space with repair equip- ment, and a pet spa. “Despite economic head- winds, JAG and MFA were able to execute on the closing of this exceptional property on schedule,” said Greg Lamb , COO and partner of JAG. It’s a testament to our strong partnership with MFA and our long-term strategy of developing best-in-class mul- tifamily showcase projects in top markets which stand the test of time.”
“MFA continues to actively expand its luxury residen- tial footprint,” said Elaine Vrooman , senior director, development. “One of our key corporate objectives is to devel- op top quality assets through strong relationships with local partners. MFA is pleased to be working once again with Jefferson Apartment Group on another signature develop- ment in Northern Virginia’s Rosslyn-Ballston Corridor.” JAG and MFA previously partnered on J Sol, a 22-story, 326-unit luxury high-rise in Ballston. J Sol delivered in 2020 during the height of the pandemic and leased up in less than a year. Among the unit offerings, 1901 N. Moore features top- of-market finishes, gourmet kitchens with large islands, open floor plans with high ceil - ings, floor-to-ceiling windows, and private balconies boasting unimpeded views. MAREJ
Moore streets in Arlington’s Rosslyn neighborhood, one block from the Rosslyn Metro Station, with service on the Orange, Blue and Silver lines. The planned redevelopment includes 11,000 s/f of prime ground-floor restaurant and retail space, four levels of parking, and a best-in-class 1901 N. Moore St. in Arlington
St. John Properties, Inc. acquires Triangle Business Park in Baltimore
which has over 800,000 s/f of flex and warehouse space,” said Sean Doordan, Execu- tive Vice President, Leasing & Acquisitions for St. John Properties. “We plan to re- brand the acquired flex/R&D product under the ‘Baltimore Gateway’ umbrella, as these buildings are very synergis- tic with our existing build- ing type and composition. We are excited to add these stabilized, tenanted build- ings into St. John Properties’ expanding portfolio.” This is Klein’s first dispo - sition in 2022 and follows an active transactional period including the recent acqui- sition of a portfolio of nine grocery-anchored shopping centers in Maryland, Vir- ginia, and Pennsylvania, as well as the acquisition of development land for the construction of a 379-unit apartment complex adja- cent to the metro station in Largo, Maryland. Klein was represented by Nicholas Signor from New- mark Capital Markets . MAREJ
BALTIMORE, MD — Klein Enterprises , a ver- tically integrated investor, developer, and operator of diversified real estate hold - ings, announced the success- ful disposition of Triangle Business Park in Baltimore. Triangle Business Park, lo- cated at 1500-1506 Joh Ave., was purchased by Klein in 2013 and features four build- ings totaling over 74,000 s/f of industrial and flex space. Two of the buildings are in Balti- more City and zoned as OIC (Office Industrial Campus District Baltimore City) and two are in Baltimore County and zoned as ML (Industrial & Manufacturing Light). The property was purchased by St. John Properties, Inc. a Baltimore-based commer- cial real estate development and management company with more than 22 million s/f of space across 10 states. “This sale aligns with our efforts to diversify our geo- graphic exposure and further expand our residential and re- tail portfolio while capitalizing
Triangle Business Park
on the demand for flex space in the Mid-Atlantic region,” said Sean Garland , chief invest- ment officer at Klein Enter- prises. “As we look towards 2023, we’ll continue to manage and optimize our existing port- folio in the face of market chal- lenges as well as respond to market dislocations to capture investment and development opportunities within our core
focus areas.” The stabilized property is home to national and lo- cal businesses including the YMCA and Breethe, Inc, a health technology startup that launched at the Uni- versity of Maryland and is set to become a subsidiary of Johnson & Johnson via its ac- quisition of Abiomed. Located near I-95, Triangle Business
Park offers convenient access to both downtown Baltimore and BWI Marshall Airport. “We are very familiar with the Baltimore/Halethorpe submarket, this acquisition will bring us over 1 mil- lion s/f of commercial space within a mile radius, includ- ing the 100,000 s/f Balti- more Gateway office building and Caton Research Center
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