Happy Friday! In today’s commercial real estate news – we’ll look at how the retail shakeout is forcing mall owners to rework their development plans, how if you rent your troubles may be coming to an end, and Capital One makes record real estate purchase in Georgetown.
With store closures accelerating, landlords are having to change course and find ways to create malleable space.
Why do I think we’ve witnessed a generational peak in renting? For one, the data point in that direction…
Sagamore Development has sold its building at the corner of Wisconsin and M streets NW to McLean-based Capital One NA (NYSE: COF) for a whopping $50.2 million.