WASHINGTON, DC–The Murillo Malnati Group has acquired a development site totaling 14,148 square feet as well as an existing building, in the Eighth Street Corridor — a submarket between the Capitol Riverfront and Capitol Hill neighborhoods. The locally-based developer is planning to build a 75-unit mixed-use property on the site in a three-phase roll-out. The seller is a partnership between Westside Development, May Development and CAS Riegler. They were represented by Bruce Levin, Andrew McAllister and Nick Rubenstein of MAC Realty Advisors.
“We love the vibrancy of the neighborhood which brings together the confluence of the Barrack's Row and the Ballpark District,” according to Julio Murillo, a principal of the Murillo/Malnati Group.
“Once complete, this 75-unit portfolio property will bring new life to the Eighth Street Corridor,” she says.
There was a strong interest level in this transaction from developers and investors in the Capitol Riverfront, Rubenstein says.
WASHINGTON, DC–The Murillo Malnati Group has acquired a development site totaling 14,148 square feet as well as an existing building, in the Eighth Street Corridor — a submarket between the Capitol Riverfront and Capitol Hill neighborhoods. The locally-based developer is planning to build a 75-unit mixed-use property on the site in a three-phase roll-out. The seller is a partnership between Westside Development, May Development and CAS Riegler. They were represented by Bruce Levin, Andrew McAllister and Nick Rubenstein of MAC Realty Advisors.
“We love the vibrancy of the neighborhood which brings together the confluence of the Barrack's Row and the Ballpark District,” according to Julio Murillo, a principal of the Murillo/Malnati Group.
“Once complete, this 75-unit portfolio property will bring new life to the Eighth Street Corridor,” she says.
There was a strong interest level in this transaction from developers and investors in the Capitol Riverfront, Rubenstein says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
