“The DC government has been planning for what seems forever to spend money on the streetscape there — and now it has committed to doing that this fall,” Fitzgerald tells GlobeSt.com.

A new ANXO Cidery location opening soon on the street, they also point out. ANXO is a District-licensed winery whose Florida Avenue location is very popular. “We expect more local businesses will open in the coming years and we are excited to be a part of what we think will be a diverse and unique business corridor,” Sam Fitz, one the owners and founders of ANXO, says in a prepared statement.

Also, Zupancic notes that single family homes around Kennedy Street are starting to sell, which is one of the first indicators that a critical mass is forming for retail development. “When you have a transitional area there is not much retail,” he tells GlobeSt.com. “That starts to change when more residential comes to the area, in apartments, condos and single family homes. Only then will retail begin to show interest.”

There were 30 interested parties for the property and it received seven offers. The sales price came in under the listed price but it sold at what Fitzgerald says is a good market value.

WASHINGTON, DC–For some time the thinking has been that sooner or later the so-called Kennedy Street Corridor — a micro market in Brightwood Park — would show serious signs of becoming a neighborhood in which residents and businesses would want to invest. That is day here, say Marcus & Millichap's Grant Fitzgerald, Marty Zupancic and Matthew Chambers.

They recently sold a 8,410-square foot lot to a local developer which has tentative plans to build a 28-unit condo building (if not, an apartment building) at the address of 5508 7th St., NW. The lot sold for $2.35 million, or $88.63 per buildable square foot.

The team also sold a development site at 423 Kennedy St. NW in 2016.

These two transactions, though, are not the only evidence the team cites as they make their case for Kennedy St.

“The DC government has been planning for what seems forever to spend money on the streetscape there — and now it has committed to doing that this fall,” Fitzgerald tells GlobeSt.com.

A new ANXO Cidery location opening soon on the street, they also point out. ANXO is a District-licensed winery whose Florida Avenue location is very popular. “We expect more local businesses will open in the coming years and we are excited to be a part of what we think will be a diverse and unique business corridor,” Sam Fitz, one the owners and founders of ANXO, says in a prepared statement.

Also, Zupancic notes that single family homes around Kennedy Street are starting to sell, which is one of the first indicators that a critical mass is forming for retail development. “When you have a transitional area there is not much retail,” he tells GlobeSt.com. “That starts to change when more residential comes to the area, in apartments, condos and single family homes. Only then will retail begin to show interest.”

There were 30 interested parties for the property and it received seven offers. The sales price came in under the listed price but it sold at what Fitzgerald says is a good market value.