D.C. State of the Market

Chip Akridge, Founder and Chairman of the commercial real estate firm bearing his name, is an innovator in the industry, a committed advocate of community initiatives in the Washington, DC, region, and a dedicated supporter of philanthropic and charitable organizations. Chip founded the firm in 1974 to specialize in commercial real estate in downtown and suburban Washington, DC. Since then, Akridge has acquired, developed, or entitled more than 14 million square feet of office, industrial flex, residential, retail, and entertainment space in the metro area. As chairman of the company, he is responsible for corporate oversight and strategic planning. He continually focuses on developing the highest-quality products and delivering superior Client service. Chip leads the commercial real estate sector in regulatory, legislative, and financial changes in Washington, DC. He was the first to use the “Woodies Act,” which enables developers to lease the air-rights above and below a public area in order to join properties. Chip was also the first to use the DC Tax Increment Financing Program to build a mixed-use complex that revitalized the city’s downtown core. He worked closely with the city government to develop innovative legislation that created the housing linkage program, Business Improvement Districts, and regulatory guidelines to improve the water quality of the Anacostia River. Chip has served as a member of the Economic Development and Executive Committees of the Federal City Council, and as chairman of the Greater Washington Board of Trade’s Emergency Preparedness Task Force. He has received numerous industry awards. A strong advocate for the environment, he has served on the Board of Trustees of the Chesapeake Bay Foundation, the Nature Conservancy of Maryland/DC, and various agencies of the city government. Chip testifies frequently in support of environmentally friendly legislation before the DC Council, and the Maryland State House and Senate. He is committed both personally and professionally to sustainable building design – earning numerous Smart Growth awards, more than any other developer, and the LEED Accredited Professional designation. He is also an EPA Energy STAR partner and has been recognized by the Garden Club of America for his environmental work. Chip is a leader in philanthropic and civic organizations throughout the Washington, DC, area. He is the founder and chairman of the Trust for the National Mall, a non-profit created to assist the National Park Service to restore and improve The National Mall. Previous philanthropic leadership initiatives include: chairman of The John Akridge Homeless Foundation, member of the Board of Directors of the National Alliance to End Homelessness, member of the Board of Trustees of The Georgia Tech Foundation, and member of the President’s Advisory Board of the Georgia Institute of Technology. Chip is a Distinguished Eagle Scout and a Vietnam veteran. He earned a Bachelor of Science in Mechanical Engineering from the Georgia Institute of Technology and a Master of Business Administration in Finance and Real Estate Development from Harvard University.

Brian Klansky is the Northeast Regional Vice President for View (NASDAQ: VIEW). View manufactures a new generation of Smart Windows that get rid of blinds, let in natural light and views, and enhance occupant health while saving energy. Brian is responsible for all aspects of sales and customer satisfaction in the northeast. He is a seasoned tech executive with a passion for sustainability. Prior to View, he led sales and marketing efforts for BrightPower and US Energy Group. Before this, Brian was Vice President of sales at M5 Networks, an innovative cloud telephony company. While at M5, Brian built the business from under $10M to over $50M annually, leading to an acquisition by ShoreTel (NASDAQ: SHOR). Brian lives in NY with his wife, 2 children and dog.

Joining Clyde’s Restaurant Group in the fall of 2016, former Co-Founder, President and CEO of the privately-held chain, Biaggi’s Ristorante Italiano, John McDonnell, has brought a record of success with him. As a results-driven Business Management Executive with the ability to lead teams using effective operational strategies while also exhibiting an unwavering commitment to excellence, John’s unique expertise makes him a valuable part of the Clyde’s family.

Katie focuses on leasing as well as maintaining broker and tenant relationships at Meridian. She has over 15 years of experience in commercial real estate, including leasing and market research. Prior to joining Meridian, Katie was a vice president with Boston Properties, where she oversaw the company’s Reston Town Center portfolio totaling more than three million square feet and completed over 115 transactions with a diverse mix of tenants including tech companies, law firms, government contractors, and Fortune 100 companies. She began her career with Lincoln Property Company, where she focused on research and brokerage in Washington, DC. Katie received her B.S. in management from Georgetown University.

A Principal at Kohn Pedersen Fox, Doug has more than 25 years of experience in architectural design, contributing to some of the firm’s most respected and well-known projects. He has a reputation for his attention to detail and craft, resulting in award-winning projects built throughout the world. Doug has been active in Washington DC and Virginia; as Design Principal, he lead the design for the soon to be completed 1900 N Street, the recently finished 1775 Tyson’s Boulevard, a mixed-use LEED Platinum project in Tyson’s Corner, as well as the brand new 1000 Maine office building. The office, part of a large master plan to redevelop the waterfront district, has won numerous awards both locally and nationally for its design excellence and craftsmanship. Doug has demonstrated special skill in approaching complex transformation projects that deal with the reordering of spaces. His design for 390 Madison Avenue exemplifies his expertise in this area, carving out sections of existing floor slabs in the existing structure and redistributing the excised floor area elsewhere in the building. His work at the University of Kentucky College of Law exhibits a similar expertise in reshaping spaces through renovation. An advocate for sustainable and resilient architecture, Doug has designed some of the firm’s landmark “green” projects, including 555 Mission Street, the first LEED Gold office building in San Francisco, and the NYCHA Red Hook Houses Sandy Resiliency & Renewal Program, which focuses on decreasing the community’s vulnerability to potential natural disasters in the future. Passionate about his chosen profession, Doug is very active in the architectural community. He has been an adjunct professor and studio instructor for many schools, including the University of Hawaii and the University of North Carolina. As chair of the planning board of a suburban county near New York City, he uses his skills as an architect and designer to help people understand what the implications of development and building are to them, their future, and their families.

Mr. Oliver T. Carr, III has been the President and Chief Executive Officer at Carr Properties Holdings LP since 2004. Mr. Carr co-founded Carr Capital Corporation in 1994 and served as its President and Chief Executive Officer until 2005. He was responsible for managing Carr Capital, and led managing major acquisitions and financial transactions at the firm. Mr. Carr served as a Director of WashingtonFirst Bankshares, Inc. and its subsidiary WashingtonFirst Bank from December 2012 to May 17, 2013. He served as an Independent Director of Alliance Bankshares Corporation since July 2007. Mr. Carr served as a Director of Alliance Bank Corporation since August 15, 2007 and Alliance Bankshares Corporation since July 2007. He received Master of Science in Real Estate Development from the Massachusetts Institute of Technology in 1992 and his Bachelor of Arts in Urban Studies, with a concentration in Economics, from Trinity College in 1987.

As soon as my feet hit the floor in the morning, I'm running full speed, and that's the way I like it. I spent 15 years as employee number one, the President and COO for Carr Workplaces, building it into a 30 location multi-million dollar business. Before Carr, I spent 14 years at HQ Global Workplaces, now known as Regus. I was coworking when coworking was executive suites, and now I'm leading the charge into 2021 as the industry innovates to a more flexible office concept. In January 2015, I decided to join my husband, Mike, as a partner and thought leader on the business management consulting side. StellaPop's primary focus is assisting client CEO's in improving their people, operations, brand, and bottom line. On the personal side, when I'm not moving and shaking at work, you can find me lacing up my sneakers and hitting the running path or spending time at our son's basketball events.

Ms. Hoang serves as Senior Vice President of Development where she oversees all company sponsored real estate investment projects from inception to construction completion. Her responsibilities include master planning and entitlement strategy, ensuring design and construction excellence, adherence to project business plans, team mentoring and training, investor relations and reporting, and implementation of portfolio-wide procedures, standards and reports. She is driven by her passion for the built environment and the ability to develop extraordinary places that connect to the soul of a community. By growing and challenging the teams around her, she is able to successfully deliver complex, sustainable and legacy projects in the region. Ms. Hoang is a decisive and seasoned real estate executive with over 25 years of experience, specializing in the complete life-cycle development of multifamily and mixed-use communities with involvement in the pre/development of approximately 10,000 units valued at nearly $3 billion in the Mid-Atlantic region. Prior to joining Jair Lynch in 2020, Ms. Hoang led the strategic master planning and development of the Merriweather District in Columbia, MD for the Howard Hughes Corporation; and she has previously worked in development for Home Properties, JPI Development, and the National Capital Revitalization Corporation, along with time spent in real estate consulting at Ernst & Young and RCLCO.

Richard Lake is a founding Principal of Roadside Development. Roadside was formed 20 years ago as a Washington, DC-based development company, focused on the creation of retail and mixeduse environments. Roadside has become one of the leading experts in urban and town center development throughout the metropolitan Washington, DC region. Mr. Lake has been responsible for overall acquisition, entitlement, development, leasing, and property management of more than 25 million SF over the past three decades. Notable recent projects include City Ridge located at 3900 Wisconsin Avenue, NW which occupies 550 feet of frontage along Wisconsin Avenue NW, the site includes approximately 9.71 acres of land that is bound by a residential neighborhood to the south, Glover-Archbold Park to the west, and a private office building to the north; City Market at O & 880P, a million square foot, urban infill project in the heart of the Shaw neighborhood in Washington DC, which spans two city blocks and featuresnearly 90,000 square feet of retail, 550 luxury rental apartments, 90 affordable senior rental units, a 182-room key hotel, a 500-car parking garage, and incorporates the historic preservation of the nationally registered landmark O Street Market; Stonebridge at Potomac Town Center, a 105-acre mixed-use retail town center and residential community in Woodbridge, Virginia; and Cityline at Tenley, which preserved and transformed an abandoned historic Sears building into an award-winning mixed-use project that attracted Washington, DC’s first Best Buy and Container Storeretailers while also incorporating a contemporary addition of 204 luxury condominium units. Mr. Lake’s talent for working with development teams and optimizing a project’s full value potential throughout all stages of the real estate cycle is one of his greatest assets. He has also served as a consultant on several real estate projects throughout the country, with an expertise in place-making, by creating successful retail environments and public spaces that amenitize and enhance residential, commercial, and cultural uses to become vibrant mixed-use communities. Mr. Lake is a native Washingtonian and has been an active member of the business community for over 30 years. Prior to co-founding Roadside Development, he was the founding partner of The Retail Group and led Madison Retail Group, a full-service retail brokerage firm that was the dominant leader in the DC and Mid-Atlantic markets. He began his career in real estate as a broker with Smithy Braedon ONCOR International. He is a graduate of Boston University. Mr. Lake currently serves on the board of directors for several non-profit and economic development organizations, including Co-Chair of the Washington DC Economic Partnership, Iona Senior Services (also previously President of the Board), Executive Committee Member for DCBIA, Prince William County Economic Advisory Board and Trustee of Federal City Council. Mr. Lake is also a member of ULI and ICSC

Bo Menkiti is the Founder and CEO of the Menkiti Group, a real estate company dedicated to transforming lives and communities through real estate. The Menkiti Group is focused on strengthening neighborhoods through the strategic development, management, and disposition of real estate in urban markets. Mr. Menkiti also serves as CEO and is the Founding Partner of Keller Williams Capital Properties, a residential real estate brokerage managed by the Menkiti Group. Mr. Menkiti’s work has been featured in David Bornstein’s book on social entrepreneurs “How to Change the World,” and in Stephen Goldsmith’s “The Power of Social Innovation.” Mr. Menkiti has been recognized nationally by Ebony and Inc. Magazine as one of the coolest young entrepreneurs in America, and was awarded The National Association of Realtors Prestigious “30 under 30” award in 2006. Mr. Menkiti was also honored as a Minority Business Leader by the Washington Business Journal and named to the paper’s 2014 Power 100, a list of the most influential business leaders in the Washington metropolitan area. He was also recently honored by the National Association of Realtors as the District of Columbia Realtor of the Year in 2014 and as Keller Williams Realty International’s 2015 Entrepreneur of the Year. Under Mr. Menkiti’s leadership, the Menkiti Group and Keller Williams Capital Properties have been recognized by Inc. Magazine as being among the fastest growing private companies in the nation and by the Initiative for Competitive Inner City (ICIC) and Fortune Magazine as two of the fastest growing inner city businesses in America. Prior to forming the Menkiti Group and Keller Williams Capital Properties, Mr. Menkiti served as Chief Operating Officer of College Summit, a national non-profit organization dedicated to increasing the college enrollment rate of low-income students. In this capacity, Mr. Menkiti oversaw the organization’s successful growth into a multi-site national organization. Mr. Menkiti served as the 2013 President of the District of Columbia Association of Realtors and is a board member of City First Bank of DC and Dance Place. Mr. Menkiti also serves as a member of the Steering Committee of the Small Business Policy Project and on the board of DC Water, the District of Columbia Water and Sewer Authority. In 2015, Mr. Menkiti was inducted on the board of the Myer Foundation, the Federal City Council, and was elected as the Executive Board Member of Prolanthropy. Earlier this year, Mr. Menkiti launched the Capital Properties Menkiti Group Foundation, an organization that focuses its resources on serving the diverse social needs existing in the National Capital Area. Mr. Menkiti is a graduate of Harvard University. He lives in the District with his wife and three young sons.

A visionary, internationally recognized urban planner and developer, Andy began drawing plans of cities by the time he was 10. Andy served as Director of Washington, DC’s Office of Planning where he created and directed the Anacostia Waterfront Initiative which framed Washington’s iconic neighborhoods including the Wharf, and The Ballpark District. Andy was most recently CEO of the Olympic Park Legacy Company in London where he led the transformation of the 500-acre London 2012 Olympic Park – the largest regeneration project in the United Kingdom. Andy also serves at MIT as a Senior Advisor to the Dean of the School of Architecture and Planning where he works on international initiatives and will be teaching a course on “city building”. He also serves on boards in Washington DC, including the Folger Theater, Field School and DCJCC.

Andrew Lyons leads Fulcrum’s New York office where he is primarily responsible for client engagements in the New York, New Jersey, Pennsylvania, Fairfield County, Connecticut and other surrounding areas. Andrew has a diverse background; most notably in construction project management services, auditing, finance, and process design and improvement. With this diverse background of experience, Andrew continues to assist Fulcrum’s clientele on multiple large, complex projects.

As a Tax Partner with Cherry Bekaert’s Rockville office, Steve provides tax and consulting services to closely-held and family-owned companies. His practice focuses on growing, middle-market clients as well as providing accounting and business consulting services to clients from start-up to succession planning. Steve has been advising clients with financial and operational matters since 2002. His extensive industry experience includes working with clients in the real estate and construction, professional services and restaurant & retail sectors. Before joining Cherry Bekaert via acquisition, Steve was a principal with Berlin Ramos & Company PA.

Kevin Bradley began his career at Boland in 1998 as an intern, working his way through multiple business streams including Project Management, Controls, Estimating, and Equipment Sales. In his current role as Sales Team Leader, he designs and implements innovative, energy saving HVAC solutions to clients in the DMV area.