Akridge Sells Remaining Half Street Holdings for $20M
Akridge has sold off the last of its Half St SE holdings, a .75-acre parcel at 25 M St SE, to an affiliate of Brandywine Realty Trust for $20M. This ends the chapter on Akridge's and Monument Realty's longtime ownership of land on Half Street between M and N streets, with Monument unloading its last shares in September. The site, which is zoned for 360k SF of office, is home to the Fairgrounds, a popular hangout outside Nationals Stadium, the Washington Business Journal reports. No word yet on plans for the Fairgrounds, which was once the site of a planned 700k SF mixed-use development (pictured). There has been an explosion of growth in the Capitol Riverfront community, with development exploding surrounding Nationals Park. Among the anticipated developments are Grosvenor Americas' and McCaffrey Interests' F1RST—a mixed-use project with 300-plus apartments, an extended-stay hotel, and 25k SF of restaurants and retail—and The Yards from Forest City Washington. [WBJ]
