This Week's D.C. Deal Sheet: Monday Lands Childcare Tenant In Ballston Office Tower
A childcare center is coming to the ground floor of a Monday Properties office building in Ballston.
Two Birds is taking 11K SF at Three Ballston Plaza, Monday’s 16-story tower at 1100 North Glebe Road, the landlord announced.
The childcare center plans to occupy the space in the first quarter of next year. The lease has a 15-year term.
The 330K SF building is the former headquarters of CACI, which signed a lease in 2020 to relocate to Reston, and Monday acquired it in 2021 for $118M. Monday has plans to renovate the second floor of the building into an amenity center with spec suites, a project it expects to complete in the fall.
Cushman & Wakefield represented both sides of the Two Birds deal — Mark Wooters and Theo Slagle on the tenant side and Tim Summers, Josh Masi and Will Thomas on the landlord side.
“Two Birds is an ideal addition to Three Ballston Plaza’s dynamic tenant mix and underlines Monday Properties’ creative approach to serving the needs of our tenants and Ballston’s thriving and diverse business ecosystem,” Monday Properties Chief Operating Officer Jennifer Burns said in a release.
LEASES
Twins Ace Hardware is taking 8K SF at one of JBG Smith’s National Landing apartment buildings. The hardware store is coming to The Zoe, a 420-unit, 19-story tower, the landlord announced this week. Twins Ace Hardware is based in Arlington and operated by Jeff Smith. Rice Retail Advisors’ Amy Rice represented JBG, and Colliers’ Adam Schindler represented Twins Ace Hardware.
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The Aerospace Industries Association is moving from one of Beacon Capital Partners’ The Towers office buildings to the other. AIA inked a 20.5K SF lease for the 26th floor of 1100 Wilson Blvd., broker Savills announced this week. Its current lease is for around the same footprint at the other tower, 1000 Willson Blvd., a spokesperson said. Savills’ Wendy Feldman Block, Ken Biberaj, David Cornbrooks, Danielle Ferrari and Dustin Lynch represented the tenant. JLL’s Yorke Allen and Lee Brinkman represented Beacon.
SALES
TruAmerica paid $72M for a 236-unit garden-style apartment complex in Loudoun. The Los Angeles-based company purchased Chase Heritage Apartments from Addison, Texas-based McDowell Properties, it announced this week. TruAmerica said it plans to undertake a “value-add capital improvement program” set to include interior renovations and “enhanced” shared amenities. The 15-acre property at 1212 Chase Heritage Circle was built in 1986. Institutional Property Advisors’ Robert Dean and Jonathan Greenberg represented the seller.
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The Meridian Group purchased a 24-story fully vacant office property in Tysons, it announced this week. The Bethesda-based owner and developer paid an undisclosed amount for Tysons Central, a 388K SF property next to the first phase of its mega mixed-use project The Boro. Foulger Pratt and USAA developed the 388K SF property in 2022 on spec but never signed any leases.
FINANCING
D.C. announced it has repaid $198M in bonds that it used to help finance The Wharf — 15 years before they were set to mature. The District paid back the Tax Increment Financing revenue bonds through incremental sales and real property taxes generated within the 3.5M SF mixed-use development.
MILESTONES
The H Street NE corridor has a new grocery store. Aldi held a grand opening of its 25K SF space on the ground floor of 400-unit Avec on H Street on Thursday. Rappaport and WC Smith jointly developed the property, which houses 44K SF of retail. Retailers include Solidcore, Veterinary Emergency Group and Urban Nail Lounge. Aldi has two other locations in the District — one in Fort Totten and the other near Benning Road. Rappaport’s Pat O’Meara and Zach Elcano represented the landlord, and KLNB’s Bob Morris and Ryan Wilner represented Aldi.
