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Streetsense: 3 Big Retail Deals in MVT on horizon

Andrew Poncher of Commercial real estate brokerage Street Sense hinted during a recent ULI event that 3 big retail deals would hit the Triangle soon. Street Sense represents the commercial leasing interests three properties within the Mount Vernon Triangle: The Lyric Apartments at 440 K, M Flats at 450 K, and 433 Mass Ave which is home to the recently opened Le Pain Quotidien.

Tweet from @realstreetsense on 2.21.2014

Tweet from @realstreetsense on 2.21.2014

The Lyric has over 9,000 SF of retail space and has suggested they were ideally targeting a market for a tenant. M Flats has 6,600 SF of space and 433 Mass still has a basement space beneath LPQ available.

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Retail Possibilities at Lyric 440K

The Lyric 440K apartments (website | facebook) began leasing in late October after hosting a media hard hat tour event.

Lyric 440K rendering

Lyric 440K rendering

Current MVT residents may be wondering about what types of retailers this new 234 residential building may add on the ground floor in their 9,130 SF of prime retail space. When we inquired during the media event the property manager was very firm that their ideal target tenant would be a market.

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440 K Street Apartments

So I dropped the ball and didn’t pick up on this earlier as I initially assumed 440 K Street was just Kettler changing the address on their upcoming 450 K Street apartments. But it’s an entirely different new project and is part of a modified plan for Mount Vernon Place. Yay for double the residential and retail development on the block.

440 K rendering by Davis Carter Scott (via MVT CID)

From the MVT CID Spring newsletter:

440 K will be the next apartment building to break ground in the Mount Vernon Triangle. With 234 apartments, 440 K will feature two rooftop terraces, a pool, private club room for social occassions, private balconies, and a fitness center. There will also be 9,000 square feet of ground-floor retail space.

440 K Street will be the fourth building completed in Mount Vernon Place, the two million square foot, mixed-use development of The Wilkes Company and Quadrangle Development Corporation. Designed by Davis Carter Scott, the building is anticipated to be complete by the autumn of 2013.

I can only assume 440 K has the potential to leapfrog 450 K in timeline for groundbreaking because 450 K has all the historical preservation stuff to work through?

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