Latest Bisnow update on 425 Eye

Commercial Real Estate news site Bisnow has provided another update on Paramount Group’s renovation of 425 Eye Street NW.

John Bone of Paramount Group

It’s a great value play at low to mid-40s full service) and on schedule to deliver Q1 ‘10. It’ll have all new lobby, common areas, bathrooms, fitness facilities, and rooftop deck, and he adds that 4th and I is a “perfect” place for a restaurant.

Paramount has selected Bill Miller of Transwestern Retail to lease the 29,000 SF of ground floor retail space. Transwestern has been a key player in the downtown retail scene signing Buddha Bar for 455 Mass and listing Coco Sala, PS7, Proof and Cork & Fork among their deals.

Transwestern’s website lists 22 tenants actively looking available space in the DC Metro Area. Any of the 22 seem like a fit? I think Humble or Marvelous Market might work. While I know there is a hunger for diners among district residents I can’t say Metro Silver Diner really appeals to me. That seems like it should have signed on at DCUSA…

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  1. 2

    FourthandEye says

    It is worth mentioning that Marvelous Market already failed once nearby on 7th Street. So unless the MVT rent is low enough to make the math work I doubt they are anxious to return.

  2. 3

    Anonymous says

    The Marvelous Market on 7th Street did not have the types of products that the neighborhood needed. It was not the same as the MM's in the other parts of town. That being said, how about getting Cowgirl Creamery to move up to our neighborhood. Any type of specialty food store or gourmet grocer would be much appreciated to us cooks in the hood.

  3. 4

    Anonymous says

    Some of the 22 are clearly only daytime oriented establishments, like Corner Bakery and Cafe Phillips. I think I'd much prefer a business that is open into the night, so that the vibrancy of streetscape continues into the evening. Of course, with no disturbance to the residents at The Madrigal and hopefully The DuMont. It's great to know that at least things are moving along and that something will be there.