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Washington, September 21, 2018

ECONOMIC GROWTH

Money Magazine released its annual list of The Best Places to Live in America and two local communities made the top five; Ashburn, Va. (No. 2) and Ellicott City, Md. (No. 4). The list of 15 cities was compiled based on myriad factors including economic health, public schools, housing, local amenities, cost of living and diversity. Read more at WTOP.

 

COMMERCIAL REAL ESTATE

Following an $8.25-million acquisition of the Transcentury Building in Adams Morgan, Jubilee Housing Inc. filed plans to convert the vacant office building into a 25-unit apartment complex. The D.C.-based nonprofit also plans to devote the ground floor to a nearby youth development center. Read more at the Washington Business Journal.

 

DEVELOPMENT

McLean-based Georgelas Group filed an application for a $450-million, 7-acre mixed-use development on Tyco Road near the Spring Hill Silver Line station in Tysons. Plans for the Spring Hill Station North development include 1.3 million square feet of residential/office space across three buildings, a 170,000 square-foot hotel and 75,000 square feet of retail. Read more at BisNow.

 

HEALTHCARE

John Hancock announced major changes to its life insurance offerings that will require health tracking for coverage. Customers will have to enter fitness activity via an app or website or, for a 15 percent discount, they can track health data with a wearable device. Traditional policies will no longer be available. Read more at Engadget.

 

INNOVATION

By the end of this year, Walmart will supply 4,700 of its stores with more than 17,000 Oculus Go virtual reality headsets as the retailer expands its VR-based employee training system. The technology is designed to give employees a physical feel for situations like Black Friday shopping surge. Read more at The Verge.

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Washington, September 21, 2018

ECONOMIC GROWTH Money Magazine released its annual list of The Best Places to Live in America and two local communities made the top five; Ashburn, Va. (No. 2) and Ellicott City, Md. (No. 4). The list of 15 cities was compiled based on myriad factors including...

Washington, September 20, 2018

GAMBLING D.C. Councilman Jack Evans introduced the Sports Wagering Lottery Amendment Act of 2018, which would legalize sports betting under the arm of the D.C. Lottery. The legislation would allow residents to place bets online and in-person at new facilities. Read...

Washington, September 19, 2018

COMMERCIAL REAL ESTATE Sources report Amazon has entered into an agreement to lease a new warehouse in Mercure Business Park in Sterling, Va. Denver-based Industrial Property Trust acquired the site for $4.47 million in January and has been developing the...

Washington, September 18, 2018

COMMERCIAL REAL ESTATE Digital Realty Trust LP has entered into an agreement to purchase 424 acres near Dulles International Airport from the Metropolitan Washington Airports Authority for $236.5 million, around $558,000 per acre, in a deal expected to close by...

In Case You Missed Them

Washington, September 17, 2018

JOBS A report from the Metropolitan Washington Council of Governments (COG) predicts the District will see an additional 990,000 new jobs created by 2045. To accommodate the growing workforce, the region will also need to construct at least 100,000 new housing units...

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Washington, September 14, 2018

COMMERCIAL REAL ESTATE Miami-based Exan Capital has entered into an agreement with JBG Smith to acquire the Executive Building at 1399 New York Ave. NW for $121 million. The move is part of JBG’s strategy of selling its D.C. office assets, which it believes could...

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Washington, September 13, 2018

HOSPITALITY Australia-based SB&G Hotel Group has acquired the Greenbelt Marriott at 6400 Ivy Lane from Lerner Enterprises for $18 million. The new ownership plans to renovate the 284-room property, that includes 11,200 square feet of meeting space, and re-brand it as...

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Washington, September 12, 2018

FINANCE Nearly two-thirds of Washington-area residents report feeling unprepared for a financial crisis, according to a survey of 750 people conducted by Charles Schwab. Millennials and Gen Xers were the least prepared at 64 percent. Read more at Washington’s Top...

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