1355-1357 U St NW

Asset Type

Retail

Address
1355-1357 U St NW Washington, DC United States 20009-4444
Asking Price

Contact for pricing

Sq Footage

28,050

Year Built

1920

Cap Rate

N/A

Additional Attributes

Property Description

The 14th Street Corridor and U Street Corridor are two of Washington, DC’s preeminent neighborhoods for shopping, dining, entertainment, night life, and of course, living. Located steps from the intersection of these two streets, the Property offers access to an unmatched selection of amenities and attractions.


Immediate Metro Access: The U Street/Cardozo Metro Station, just one block from the Property, gives residents convenient regional accessibility. Metro Center is four stops away.

HQ2 Effect: Amazon announced in November 2018 that it would develop a new headquarters at National Landing in Arlington, VA. The $800 billion tech company’s new outpost will host more than 25,000 employees earning an average wage exceeding $150,000. 1355-1357 U Street’s unbeatable proximity to U Street Station, which is serviced by the Yellow Line, provides residents direct access to Amazon’s future headquarters.

Vibrant retail amenities: More than 400 retail storefronts offer residents seemingly endless options for dining out and shopping.

Investment Highlights

„„Development Flexibility: Prior approvals received by the Owner sets a precedent that the Property is ideally situated for redevelopment, with flexibility regarding usage.

„„Thriving Retail Environment: The Property is situated in the heart of one of Washington D.C.’s most exciting neighborhoods, which benefits from Michelin Star restaurants, boutique shopping, premium grocers, the area’s most popular bars, national banks, workout class offering gyms, and entertainment hotspots.

„„Transit-Oriented Development: The buildings sit just one block from the Green/Yellow line’s U Street/African-American Civil War Memorial/Cardozo Metro Station, less than a mile from the Red line’s Dupont Circle Metro Station, and around the corner from a Capital Bikeshare station.

„„Strong Demographic: The U Street corridor has turned into a location driven by millennials and wealthy young professionals, who demand living space that is walking distance from the vast array of favorite restaurants, bars, shops, and entertainment venues.

„„Destination Retail: The Property’s revitalized submarket has been labeled as the prime dining destination in the District with bars and restaurants occupying 40% of storefronts. This reputation results in some of the highest rent growth since 2010 when compared to other neighborhoods in Washington D.C., with a range of $65-$145 NNN asking rents.

„„Transformative Projects: The future 242-unit development of the historic Martha’s Table location at 2100 14th Street paired with the potential redevelopment of the Reeves Center at 2000 14th Street, will further add to the U Street Corridor’s “place-to-be” reputation and the appeal of 1355-1357 U Street.

Listing Contacts
Marc Rampulla
Marc Rampulla
EVP, Capital Markets
+65 3159 4021
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