Middle Market Digest: The Mid-Atlantic

RICHMOND, VA– CoStar Group has selected Richmond to locate its research operations headquarters. The headquarters will lead to the creation of 730 jobs in the market and a quarter billion dollars to be invested by CoStar. CoStar will need some 125,000 square feet, a deal that will likely be the largest office transaction in the city for the year.

WASHINGTON, DC–Mill Creek Residential has begun redevelopment of the former Italian Embassy, located at 2700 16th NW into a 134-unit luxury apartment. The building’s Neo-Renaissance architecture will be preserved as Mill Creek develops an adjacent nine-story high rise with two levels of below-grade parking. Rockwood Capital has invested in the project and Helaba is providing the construction financing for the project. The units in Embassy building will face a private courtyard and garden. The original Embassy building was completed in 1925 and designed by Whitney Wetmore and Charles D. Warren.

WASHINGTON, DC–MRP Realty and FRP Development Corp. have unveiled the public plaza at Dock 79 in the Capitol Riverfront neighborhood. The plaza includes an eight-foot wide, 100-foot long ribbon-like archway, four wooden chess tables, four steel umpire chairs, concrete ping pong tables and a water feature. It is located on the eastside of the development adjacent to restaurant tenants The Salt Line and All-Purpose Pizzeria. Phase one of a four-phase master planned development, Dock 79 is a 281,050-square-foot, nine-story, multifamily high-rise residential property housing approximately 305 units that broke ground in Q3 2014 and is currently open for move-ins. Phase II will feature a 13-story, 250,000-square-foot mixed-use development that includes approximately 260 residential units and 12,000 square feet of ground level retail. Phase III and Phase IV are in the planning stages.

BETHESDA, MD–Washington Property Co. has delivered Solaire Bethesda, a 139 luxury rental apartment. The street-level retail space will feature a True Food Kitchen restaurant scheduled to open in early 2017.