- The Washington Times - Monday, June 25, 2001

Property Lines

The District missed its June 15 deadline to pick a developer to renovate the coveted Mather Building at 916 G St. NW, but a decision will be made soon, the city says.
Three builders submitted proposals for the vacant, city-owned building to the D.C. Department of Housing and Community Development in April. The department's five-member selection team was expected to make its decision by June 15, but two members have not turned in their recommendations, according to department spokeswoman Tia Matthews.
Ms. Matthews says the June 15 deadline was never set in stone, adding that there was only "an initial assumption" that a decision would be made by that date.
The Mather project is a priority for the city, and a decision could be made by mid-July, Ms. Matthews says. "Everyone is on pins and needles," she says.
Monty Hoffman, one of the developers who bid on the project, says he is "very concerned… . I don't have confidence we'll have an announcement soon."
Terry Lynch, executive director of the Downtown Cluster of Congregations, a church-backed group that pushes for redevelopment in the District, wrote the city last week and urged officials to make a decision by July 31 at the latest.
Developers have long coveted the Mather Building because of its downtown location. The 10-story office building has sat empty for more than 10 years.
The District says it will sell the site for $1 million, but the buyer must agree to build affordable apartments and studios for artists in the building.

PS: We're coming to Va.

PS Business Parks, a Los Angeles real estate investment trust, has bought the Prosperity Business Campus in Fairfax County for $88.4 million.
Local brokerage Insignia/ ESG arranged the deal.
Prosperity Business Campus consists of four office buildings and eight buildings that can be used as offices or warehouses.
About 98 percent of the 657,832 square feet in the campus is leased to tenants like the U.S. Postal Service and the American Industrial Hygiene Association.

In other news

The Municipal Securities Rulemaking Board has signed a 15-year lease for 47,556 square feet at the Carlyle Gateway, an office complex at 1900 Duke St. in Alexandria. D.C. brokerage Spaulding & Slye Colliers put the deal together.
K12 Inc. has leased 34,202 square feet in the Warren Building at 8000 Westpark Drive in McLean. The online education company will occupy the fifth and sixth floors and a portion of the basement in the building, which is owned by the West Group. D.C. brokerage Julian J. Studley helped arrange the lease.
Schmeltzer, Aptaker & Shepard has extended its lease at 2600 Virginia Ave. NW. The law firm will expand from 20,324 square feet to 33,368 square feet in the Watergate building, which is owned by TrizecHahn. Studley helped arrange the lease.
MCI WorldCom has sold its 187,000-square-foot building at 1801 Pennsylvania Ave. NW to Mark Winkler Co. for $44 million. The Winkler company and Cushman and Wakefield will handle leasing for the 13-story building, which is now empty.
The Freedom Forum has hired CarrAmerica Urban Development to manage the development of its new headquarters and Newseum journalism history museum in downtown Washington. Carr has developed nine Pennsylvania Avenue projects, including the Willard Hotel.
Baltimore developer MIE Properties has started construction on two buildings at Ashburn Technology Park, an 82-acre complex near Washington Dulles International Airport. Local brokerage KLNB will handle leasing for the buildings, which can be used for offices or warehouses.
Clark Construction of Bethesda recently broke ground on Two Washingtonian, a $32 million office building in Gaithersburg. Marriott International has signed a 15-year lease for the 297,466-square-foot building, which will also feature a 1,150-space parking garage. The first phase of the project is scheduled for completion in summer 2002.
Clark has also finished construction of a three-story, 90,000-square-foot building in the Trinity Centre office complex in Centreville. The project is Clark's third project in the park, which was developed by KSI Services and Clark Real Estate Advisors.
National beverage company Odwalla has leased 24,080 square feet and valve-maker Larox has leased 13,412 square feet in the Stayton Business Center in Jessup. Local brokerage KLNB arranged both deals. In addition, KLNB helped U.S. Aluminum Corp. lease 19,800 square feet at 8301 Patuxent Drive in Jessup.
Chris Baker can be reached at 202/636-3139 or [email protected]

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