This Week's D.C. Deal Sheet
Davis Construction is shaking up its leadership following the retirement of principal Bill Moyer.
The general contractor named Dominic Argentieri as president, with Benjamin Cohen, Ronald Juban, Michael Pittsman and Meghan Ulrich all serving as principals effective at the start of next year. Moyer will stay on in an advisory role.
CEO Jim Davis, founding partner Dennis Carter and principal Peggy Jones will stay in their current roles, the firm announced. Davis, which maintains offices in Rockville and Philadelphia, was founded in 1966 and became an employee-owned company in 1990.
As part of the leadership transition, the contractor will also create a strategic planning committee to establish priorities and set goals, including around diversity and inclusion, the company said in a release.
“With our growing leadership team, we are more committed than ever to intentionally building a workplace where our employees and partners are provided the necessary support to be successful,” Argentieri said in a statement. “We know our clients will benefit from this inclusive philosophy and this will make our organization strong for the long-term.”
SALES
Insight Property Group and AHC Inc. acquired a 259-unit Reston property with support from Fairfax County and plans to preserve its affordability, the buyers announced this week. Insight and AHC acquired the former Colvin Woods Apartments at 11012 Becontree Lake Drive, now rebranded as Haven Reston, for about $72M, property records show. The Fairfax County Board of Supervisors approved a $15M Housing Blueprint loan in August to assist the acquisition, FFXNow reported.
LEASES
Brooklyn Bowl, an entertainment concept founded in 2009 with four locations around the U.S., signed a 38K SF lease for its fifth location with Hoffman & Associates at Buzzard Point next to Audi Field. The concept, which features more than a dozen bowling lanes and a 1,200-person capacity concert venue, will anchor the retail portion of a 500K SF mixed-use development. Construction is set to begin in 2023 on Parcel B, which includes 455 residential units, with a targeted delivery date of 2026.
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Virginia law firm Hirschler announced it is expanding its Tysons office footprint this week, inking a 12K SF lease at Brandywine’s 1676 International Drive in Tysons. The firm expects to occupy its new digs by the end of the month. Hirschler has two other offices in Fredericksburg and Richmond, according to its website, and its Tysons team includes 17 attorneys. Savills represented the landlord, and Hirschler Managing Partner Justine Fitzgerald represented her own firm.
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AU Park staple Wagshal’s is opening up its first downtown D.C. location, signing on to 5K SF at Tishman Speyer-owned 1747 Pennsylvania Ave. NW. The location, a few blocks from the Eisenhower Office Building, will feature a business and event catering operation, per a press release from JLL. The brokerage’s Andy Corno and Thomas Jackman represented Tishman Speyer in the lease, and Bill Miller of Miller & Walker represented the tenant. Wagshal’s is hoping to welcome its first customers by the end of next year.
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McLean Plaza, a Class-B office building acquired by Kenwood Management last year for $23M, is now 95% leased. Newmark brokers Larry FitzGerald and Cole Spalding have signed seven new tenants since the second quarter of this year, the largest being Anxiety Institute LLC, which signed for about 7K SF.
MILESTONES
The D.C. Zoning Commission approved a plan from Georgetown University on Thursday to tweak its campus plan slightly, clearing the way for hundreds of new apartments to be built on the northeast corner of the university’s campus. The planned redevelopment of the 1970s-era buildings that form the Henle Village would create two new buildings with roughly 735 beds, substantially increasing the occupancy of the site, Bisnow reported on Tuesday.
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D.C. Mayor Muriel Bowser attended the groundbreaking for Jubilee Housing’s EucKal Housing and Arts Project in Ward 1 on Wednesday. The project includes 50 affordable housing units and a new 6K SF space for the Sitar Arts Center. Jubilee acquired two properties for the project, one at 1460 Euclid St. NW and one at 1724 Kalorama Road NW. The project received over $16M from the Housing Production Trust Fund and additional financing from other public and private sources, according to a press release.
PERSONNEL
JLL hired Stephanie Marcus as vice president for its Local Markets Advisory Services group, the brokerage firm announced. In her role with JLL’s government and education practice, she’ll advise clients on a range of issues including housing, project management, higher education institutions and the federal government. Marcus was a vice president of development at Stratford Capital Group from November 2017 to May 2021 and at Van Metre Cos. from November 2015 to October 2017, according to her LinkedIn profile.
