Search
 

Patriot Equities Buys Landmark Site

WASHINGTON, DC-The now empty Hecht's distribution center will be the focal point of a 15.5-acre mixed-use distribution, flex and retail project.

By Erika Morphy | Updated on December 17, 2007

(Read more on the industrial market.)

WASHINGTON, DC-Patriot Equities has acquired the landmark Hecht’s multi-building warehouse center downtown, which it plans to redevelop into a mixed-use project called Patriot Yards that could either emphasis retail or office/flex and industrial use. Wayne, PA-based Patriot acquired the 775,000-sf warehouse from Macy’s Inc. for an undisclosed price.

Located at 1401 New York Ave. on 15.5-acres–making it one of the largest private sector land transfers in the District in a long time–the location is ideal for a number of uses, company president and CEO Erik E. Kolar tells GlobeSt.com. “We are pursuing various uses,” he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.