DC’s The Parks at Walter Reed Signs First Retail Tenants
When complete, the development will include more than 3.1 million square feet of new construction and adaptive reuse of historic structures.
The Marketplace, the community hub of the development, is anchored by Whole Foods Market and composed of three buildings surrounding a plaza fronting Georgia Avenue: The Hartley, a 323-unit multifamily building; Kite House, a 109-unit condo; and 1155 Dahlia Street, a 60-unit upscale coliving project.
The retail tenants are Mezeh, a fast-casual restaurant specializing in Mediterranean-inspired food; The Charmery, a handcrafted ice cream shop; nailsaloon, a luxury nail salon; and a national bank. Leasing details were not available.
“These tenants are a mix of proven local area operators and those who are new to D.C., providing visitors and residents of The Parks with the familiarity they can count on combined with an experience unlike anywhere else nearby,” Chuck Watters, senior managing director at Hines, told Commercial Observer. “When combined with Whole Foods Market, The Parks now has the core of a dynamic mixed-use environment in this growing neighborhood.”
The Parks is adjacent to both the new Children’s National Research and Innovation Campus and the U.S. State Department’s new Foreign Mission Center.
Advanced negotiations are also underway with a variety of retailers including full-service and fast-casual restaurants, fitness stores, pet care providers and others, Watters said.
“Now that we are close to delivery of The Parks Marketplace, retail tenants can see the vision and share in the excitement of Walter Reed as both a destination and a place to live and work,” he said. “This project is creating a new trade area in a submarket that has been historically underserved by retail. We’re seeing immense interest from prospective tenants due to our location, the project’s design and the area’s strong demographics.”
CBRE (CBRE) represented the landlord on all the deals. Renauld Consulting represented Mezeh, CBRE represented nailsaloon, Taylor Properties represented The Charmery, and Dochter & Alexander Retail Advisors represented the bank on their individual leases.
Keith Loria can be reached at Kloria@commercialobserver.com.