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Greyhound NoMa Sites May Sell as Package Deal

WASHINGTON, DC-Greyhound is hoping to set a new record with the sale of the two properties it has put on the market.

By Erika Morphy | Updated on May 19, 2008

WASHINGTON, DC-In the few weeks since Greyhound Lines’ NoMa properties have been on the market, the transport company has received a huge amount of interest from local and national developers as well as urban land funds, CB Richard Ellis SVP Mark Mallus, who is representing Greyhound, tells GlobeSt.com. He declines to discuss whether the firm has received any hard offers or letters of intent but does say that he is receiving interest in selling the two properties as a package deal. Together the two sites total nearly five acres and can accommodate up to 1.2 million sf of development.

They are 1005 First St., the 1.6-acre site where the Greyhound bus station is now located; and 3.1-acre 1345 New York Ave., which is currently leased to DC Public Schools. The New York Ave. site is now considered surplus and will be sold outright. Greyhound will leaseback the First Street site a yet-to-be determined period of time. Once its lease is up, the site will likely be redeveloped into a high-rise office and/or residential redeveloped.

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