commercial real estate | ARLnow.com

Morning Notes

Published February 27, 2020 at 6:00AM | Updated March 11, 2020 at 11:13PM

Amazon Leases Former PBS Building — “Amazon.com Inc. is gobbling up more office space in Crystal City, signing a lease for another full building owned by frequent partner and current landlord JBG Smith Properties. The tech giant is now set to occupy another 272,000 square feet at 2100 Crystal Drive… The building is currently home to the Public Broadcasting Services’ headquarters, though the nonprofit announced plans last year to move to a different building within Crystal City.” [Washington Business Journal]

W-L vs. Wakefield in the Semis Tonight — “Having been blown out by the Yorktown Patriots a few days earlier, the Washington-Liberty Generals turned the tables on their Arlington rival, winning 66-61 Feb. 25 in a quarterfinal game of the 6D North Region boys high-school basketball tournament… Washington-Liberty will now face another big Arlington rival – the Wakefield Warriors (17-9) – in the Feb. 27 region semifinals at Wakefield at 7 p.m.” [InsideNova]

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Morning Notes

By ARLnow.com

Published February 21, 2020 at 7:30AM

Demolition in progress at Amazon HQ2 site (staff photo by Jay Westcott)

Ballston-Based E*TRADE Acquired — “Morgan Stanley and E*TRADE Financial Corporation have entered into a definitive agreement under which Morgan Stanley will acquire E*TRADE, a leading financial services company and pioneer in the online brokerage industry, in an all-stock transaction valued at approximately $13 billion.” [BusinessWire, Wall Street Journal]

County Wants Feedback on Capital Projects — “As part of this year’s budget season, you’re invited to share your input on capital priorities for Arlington County Government. Where should we make investments? Which types of projects top your list? We want to know what you think. Your input will help guide development of the County Manager’s Proposed Capital Improvement Plan (CIP) Fiscal Years 2021 – 2030, which will be presented to the Arlington County Board in May.” [Arlington County]

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Morning Notes

By ARLnow.com

Published February 14, 2020 at 7:30AM

Warren Blasts Bloomberg at Arlington Event — “Senator Elizabeth Warren of Massachusetts said Thursday that Michael R. Bloomberg should not be the Democratic presidential nominee because of newly surfaced comments he made 12 years ago in which he said the end of a discriminatory housing practice had helped contribute to the 2008 financial crisis.” [New York Times]

Warren Draws Big Crowd at Wakefield — Last night’s Elizabeth Warren presidential campaign event at the Wakefield High School gym drew national media, a crowd of thousands and lines that stretched around the block. The gym’s scoreboard was programmed to say “ELIZABETH WARREN” and “20:20.” Warren later addressed the overflow crowd outside the school.

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Morning Notes

By ARLnow.com

Published February 5, 2020 at 7:30AM

Demolition in progress at Amazon HQ2 site (staff photo by Jay Westcott)

Amazon Buys Pentagon City Site — “Amazon.com Inc. has quietly purchased the 6.2-acre Pentagon City site where its first pair of HQ2 towers will be built. Acorn Development LLC, an Amazon subsidiary that is often listed when the company files for permits or makes land acquisitions, purchased the Metropolitan Park site on Jan. 15 from JBG Smith Properties (NYSE: JBGS) for $154.95 million, according to Arlington County records.” [Washington Business Journal]

Next Step for GMU Expansion — “University officials released a request for proposals Tuesday, looking for developers interested in teaming up with Mason to build a new home for the Institute of Digital Innovation on its Virginia Square property. The building is set to include a mix of uses across its 460,000 square feet, with room for classes and research labs alongside space for companies big and small looking to partner with the university.” [Washington Business Journal]

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NEW: Crystal City BID is Changing Its Name to ‘National Landing BID’

By ARLnow.com

Published January 24, 2020 at 11:20AM | Updated January 24, 2020 at 12:29PM

(Updated at 12:30 p.m.) The name “National Landing” is becoming official.

The Board of Directors of the Crystal City Business Improvement District voted yesterday to change the organization’s name to the National Landing Business Improvement District. The new name will now be voted on by the BID’s general membership and the Arlington County Board.

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Property Values, and Thus Property Taxes, Are Rising

By ARLnow.com

Published January 21, 2020 at 9:30AM

Parking along 13th Street S. in Pentagon City near Amazon's second headquarters in 2019 (staff photo by Jay Westcott)

The rise in property values in Arlington is accelerating post-HQ2.

Late last week Arlington County announced that its assessments for 2020 had risen 4.6% on average — 4.9% for commercial properties and 4.3% for residential properties. That compares to an average property assessment increase of 3.5% last year.

Around Town

For Sale: Sichuan Wok Building Ballston

By ARLnow.com

Published January 17, 2020 at 11:00AM

Sichuan Wok building offered for sale in January 2020

It’s dwarfed by an adjacent apartment building and it’s unclear when it was first built, but if you’ve ever wanted to own a commercial building in the middle of Ballston outright, now’s your chance.

The vacant Sichuan Wok building at 901 N. Quincy Street went on the market in the fall for an asking price of $3.2 million.

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Morning Notes

By ARLnow.com

Published January 9, 2020 at 6:00AM

HQ2 May Have Security Robots — “Amazon.com Inc. wants to keep its second headquarters safe. And it’s looking at a variety of methods like incognito barricades, a police presence on the campus, external facing cameras, and, oh yeah, ‘security robots.'” [Washington Business Journal]

More on Tuesday AM Robbery on the Pike — “The victim was in sitting in his parked vehicle, when an occupied vehicle pulled in front of him. The occupants of the vehicle engaged the victim in conversation and asked him to make change for their bill. During the exchange, the suspects gave the victim a lesser sum of money in return for the change and attempted to drive off. When the victim attempted to stop the vehicle, the suspects exited, assaulted him and attempted to steal his wallet.” [Arlington County]

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Morning Notes

By ARLnow.com

Published January 8, 2020 at 8:00AM | Updated January 8, 2020 at 9:40AM

Trash Collection Cancelled — Updated at 8:55 a.m. — Trash and recycling collection is cancelled today, according to Arlington’s Dept. of Environmental Services. Christmas tree and brush collection will be completed as normal, however. [Twitter]

Rep. Beyer Calls for Peace — Rep. Don Beyer (D-Va.) tweeted the following after Iran’s airstrike on U.S. military bases in Iraq — a response to the U.S. killing of a top Iranian general: “De-escalate. Exercise diplomacy. Talk. Listen. Give peace a chance.” [Twitter]

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Morning Notes

By ARLnow.com

Published January 6, 2020 at 7:30AM

New Security Measures at ANC — “Arlington National Cemetery is implementing heightened security measures after a U.S. airstrike killed a top Iranian general. The extra security will create longer lines at security checkpoints and delays… All visitors over the age of 16 will be required to show a valid state or government photo ID to enter by foot or car, Arlington National Cemetery says. Visitors aged 16 or 17 can show a school-issued ID.” [NBC 4, Twitter]

Office Building Above Rosslyn Safeway Sold — “An affiliate of The Meridian Group has paid $113.15 million for 1525 Wilson Blvd., a Rosslyn office building featuring the colorful sculpture of a dancing couple, after selling another building in the Arlington County office market last summer.” [Washington Business Journal]

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Morning Notes

By ARLnow.com

Published January 3, 2020 at 7:30AM

Pike Lane Closures Prompt Apology — “Arlington County Manager Mark Schwartz has apologized that residents, business owners, and commuters weren’t informed how their lives would be temporarily affected by a road construction project on Columbia Pike, near the Fairfax County border,” per WTOP. County officials will be holding a press briefing about the lane closures on the Pike this morning. [WTOP, Arlington County]

Park Near HQ2 May Have Security Features — “Amazon.com Inc. is weighing methods for securing its second headquarters and appears to be looking across the pond for ideas. The U.S. embassy in London… avoids fences in favor of a number of ‘defense strategies’ disguised as a ‘welcoming landscape that is experienced as a public park,’ an Amazon representative told Arlington County officials.” [Washington Business Journal]

News

Officials Expect Arlington’s Office Vacancy Rate to Keep Dropping Next Year

By Kalina Newman

Published November 15, 2019 at 1:45PM | Updated November 15, 2019 at 2:02PM

Office buildings in Crystal City (Staff photo by Jay Westcott)

Arlington’s office vacancy rate could drop below 15% next year as business continue to move to the area, according to some local experts.

Leaders of commercial real estate Avison Young and Arlington Economic Development (AED) said there is likely to be continued progress in Arlington’s long-standing struggle with a high number of empty office spaces.