NEW DEVELOPMENT WARD 3
PROPERTY UNITS / EXPECTED PROPERTY TYPE SF DELIVERY 1 Frequency Multifamily 100 May 2018 2 Spring Valley Village Retail 15,100 SF June 2018 650,000 Whittle School & Studios Education 2019 3 SF 4620-4626 Wisconsin Multifamily 136 2019 4 Avenue NW 5 The Glover House Multifamily 225 2019 6 Davenport Steps Multifamily 280 2020 8 6 4615 Wisconsin Avenue 4 Multifamily 41 2020 7 7 NW 9 1 4800 Wisconsin Avenue Multifamily 350 2020 2 8 NW 11 3 10 9 The Ladybird Multifamily 220 2021 3900 Wisconsin Avenue 700,000 Mixed-Use 2022 10 NW SF 11 Wisconsin Building Multifamily 716 2023 2430 Wisconsin Avenue Multifamily 19,000 SF TBD 12 NW 4545 42ND STREET NW 12 5
The Glover House Whittle School & Studios
Selected projects are not inclusive of every development in the submarket but include some of the submarket’s most significant and potentially transformative projects.
Development data provided by CoStar & REIS (current as of Q2 2018).
Neighborhood In Focus WASHINGTON D.C. | WARD 3 4545 42nd Street NW 4545 42nd Street NW | Washington, D.C. 20016 RESIDENT PROFILE
% % 47.7 25.0 LifeMode: Laptops and Lattes LifeMode: Metro Renters
“Predominantly single, well-educated “Residents in this highly mobile and edu- RIVER ROAD, NW professionals in business, finance, legal, cated market live alone or with a room- computer and entertainment professions” mate in older apartment buildings and condos located in the urban core of the
“Many residents walk, bike, or use public “Metro Renters residents income is close transportation to get to work; a number to the US average, but they spend a large work from home” portion of their wages on rent, clothes, 42ND STREET, NW and the latest technology”
“Residents are cosmopolitan and EXCLUSIVE LISTING: 4545 42ND STREET NW connected; they are active and “Renters occupy close to 80% of health conscious, and care about the all households” Investment Highlights environment” CONFIDENTIAL OFFERING MEMORANDUM • Neighborhood office opportunity in Tenleytown, NW, Washington, DC, within one block of the Tenleytown –AU Metro Station RETAIL EXPENDITURES IN WARD 3 (ANNUAL) • Opportunity to add value through optimization of rental rates and improved $282,102,725 management Entertainment • Asset has a strong medical and professional services leasing history driven $446,012,484 by excellent accessibility to the red line and prospective consumers/clients throughout the city and specifically the neighborhood Groceries • Proximity to American University and existing medical service providers like $316,844,843 Sibley Hospital creates a diverse and qualified talent pool for employers Dining Out • Substantial arbitrage potential through individual condos sales and collective $58,118,891 property acquisition Alcoholic Beverages
DEMOGRAPHIC/ECONOMIC HIGHLIGHTS For more information: % %
BENJAMIN WILSON LAUREN MCCORMACK IAN WEISZ $ Sr. Investment Associate Investment Associate Investment Associate 8.3 182,480 88.0 37.0 Population growth in Ward 3 since Average household income in Ward 3 of Ward 3 residents have earned Median age of residents T: 202.499.4077 T: 202.280.2734 T: 202.869.1743 2010 (currently 85,476 residents) (projected to be $206,439 by 2022) a bachelor’s degree or higher E: [email protected] E: [email protected] E: [email protected]
Demographic and economic data provided by Esri and the Bureau of Labor Statsitics; LifeModes and Tapestry Segmentation are trademarks of Esri in the United States, the European Community, or certain other jurisdictions. All data is obtained from sources recognized as reliable but Greysteel makes no guarantees as to the accuracy thereof. DAVID CHOI Investment Associate ** For more information or to inquire about Greysteel, please contact Ari Firoozabadi, CEO & President GREYSTEEL RESEARCH ([email protected] | 202.417.3873) T: 202.971.9259 KEELEY BYER KRISTEN SINGLETARY E: [email protected] Greysteel is licensed in: 01984315 California / LL98371301 Washington D.C. / 636050 Maryland / RB068196 Pennsylvania / 9003203 Texas / 0226023703 Virginia / RB0020504 Delaware / 10491206967 New York / Lead Research Analyst Senior Graphic Designer ER40038243 Colorado