StonebridgeCarras broke ground this week on a new 345,000 square foot spec office building in Washington, DC at 3 Constitution Square according to a Washington Business Journal article. 3 Constitution Square, a $150 million investment, is speculative only in a technical sense explained Douglas Firstenberg, founding principal of Bethesda-based StonebridgeCarras; while the property has yet to sign on any tenants, Firstenberg is concerned with whether the building will go federal or private. "We think it's going to be a fun competition to see which it is," Firstenberg told the told the Journal. "Obviously our view is there's little development going on right now, and we're pretty excited about a project delivery in late 2013." Cassidy Turley has been retained to market the space.
The initial build phase of the complete Constitution Square project will comprise 1.6 million square feet including two Class A, LEED Gold Certified office buildings, 440 luxury apartment units, a new 50,000 square foot full service Harris Teeter grocery store and a 204 key Hilton Garden Inn. The site, master planned as a 2.5 million square foot, transit oriented, mixed-use development, encompasses an entire city block between 1st and 2nd and M and N Streets, N.E. and is designed as a model for integrated, mixed-use development. Constitution Square has partnered with NoMa's Business Improvement District and the D.C. Office of Planning to achieve designation of the area as one of the pilot programs areas for "LEED for Neighborhoods."
For more news and information visit Blumberg Capital Partners.
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