"We intend to be a major player in the commercial real estate market in the Greater Washington area, and the addition of our Property Services Business Unit is a significant step in that direction," CBC Capitol Realty CEO Rick Davidson says. "Our strategy for the business unit is to bundle the expertise of our professionals in an effort to maximize our client's asset objectives." Grace, apparently, is the right man for that job. Grace previously worked his magic at Lerner Enterprises, where he managed over one million sf of space at a time, and he also brings with him seven years' experience with CB Richard Ellis. He will now apply his expertise to managing the Georgetown waterfront property at 3333 K St. on behalf of owner and lead tenant Friends of the Legal Services Corp.

The new unit will also oversee any construction management opportunities at the 94% occupied office building, CBC Capitol Realty tells GlobeSt.com. CB Richard Ellis formerly handled the management activities; the firm remains onboard as the leasing agent.