City Vista retail purchased by Edens and Avant
Commercial real estate firm Edens & Avant purchased 116,585 s.f. of retail at City Vista from Lowe Enterprises in mid December. Their project page outlines an overview and links to a site plan that displays the tenants and vacancies (note: adjacent vacant bays can be merged).
In the past we’ve discussed this available retail at City Vista and pondered strategy and potential restaurants.
The portfolio of projects on the Edens & Avant website is overwhelmingly strip malls with unambitious retail like Cleaners, Banks, Hair and Nail Salons, Drug Stores, Dial-a-Mattress, and Dollar Stores. I looked browsed over
20 100 properties and didn’t see one comparable and existing mixed use walkable site. That track record is concerning.
Bisnow recently visited E&A’s Bethesda office to talk about their acquisition and reported:
There’s still 8500K SF for lease on the K St. side, and (we are) eyeing local restaurants that want to be part of “one of the new great emerging neighborhoods in the District.” They wouldn’t mind someone in the mold of current tenant Busboys and Poets: locally-owned, community focused, and politically engaged.
Let’s hope E&A understands the biggest priorities for our area. City Vista needs the mix of tenants to include some businesses that will be open later into the evening and keep eyes on the streets. Banks and nail salons close early and leave the streets dead after 7pm. Atleast one restaurant that complements Busboys and makes use of the wide plaza sidewalks with outdoor seating is also key. Other thoughts?
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