News
Walmart Seeking Replacement Tenant For Ward 7's Capitol Gateway
October 26, 2016
Bisnow
Walmart earlier this year backed out of two DC projects it had planned to enter, but it is still required to pay rent at one of the sites.
The Arkansas-based retail giant has enlisted KLNB to find a replacement for the 135k SF Capitol Gateway site, the Washington Business Journal reports.
The developer, A&R Development, had already delivered the site to the retailer following the lease they signed in 2012. KLNB is in talks with one or two candidates and is "cautiously optimistic" that it can find a sublessee.
Walmart is not on the hook for the other project it backed out of, Skyland Town Center. Rappaport and WC Smith are moving forward with their JV project without the retailer, last month securing a $19M TIF package from the District. [WBJ]
