Penetration of DC Market Continues as Firm Expands its Services

WASHINGTON, DC-Taking another chunk of the fruitful pie that is the Washington, DC office market, Coldwell Banker Commercial Capitol Realty Services has created a new division–the Property Services Business Unit–and has brought in industry heavyweight Bernard Grace to spearhead it. And no sooner than the new division had been created did the unit win its first assignment, handling the management of a 65,000-sf office building in Georgetown.

“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.