About a year ago Shooshan Cos., a real estate developer based in Arlington, Va., knew it had a problem. It had received approval for a 400,000 square foot office building — the last of what was originally planned to be a five-building office complex. The problem? It no longer wanted to build an office at the site.
The office market had changed in the interim since the original planning, CEO John Shooshan explained, squeezed by factors specific to the Washington DC area such as sequestration and the end of BRAC and more universally, tenants' recent trend of space rightsizing. So he decided to completely redesign the planned building into a mixed-use vertically-integrated building.
Continue reading this story in the March/April issue of Real Estate Forum.
To go to the March/April 2017 table of contents, click here.
About a year ago Shooshan Cos., a real estate developer based in Arlington, Va., knew it had a problem. It had received approval for a 400,000 square foot office building — the last of what was originally planned to be a five-building office complex. The problem? It no longer wanted to build an office at the site.
The office market had changed in the interim since the original planning, CEO John Shooshan explained, squeezed by factors specific to the Washington DC area such as sequestration and the end of BRAC and more universally, tenants' recent trend of space rightsizing. So he decided to completely redesign the planned building into a mixed-use vertically-integrated building.
Continue reading this story in the March/April issue of Real Estate Forum.
To go to the March/April 2017 table of contents, click here.
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Sule Aygoren
Aygoren oversees the editorial direction and content for ALM’s Real Estate Media Group, including Real Estate Forum and GlobeSt.com. In her tenure with ALM, she’s held roles of increasing responsibility, including Managing Editor. Aygoren has received several awards for her coverage including Best Trade Magazine Report from the National Association of Real Estate Editors and the James D. Carper Award for Young Journalists. Under her direction, Forum has received four national NAREE awards for Best Commercial Real Estate Trade Magazine.
