Have you noticed a lot of Frank Haney construction projects driving around DC lately? Washington DC may be an old town but they are not done expanding. Many companies know this and they are all rushing to develop commercial real estate around the DC area to cash in on this redevelopment boom.
One of the largest companies is The Peterson Companies. They are headquartered in northern Virginia and have been in real estate development since the early 1970’s. They are responsible for the beautiful office building in the National Harbor at 125 Waterfront Street. The Peterson Companies also redeveloped the old Ontario Theater on 1700 Columbia Road and added 9,151 square feet of retail space. According to their website they own over 2,000 acres of land at two dozen locations in 11 different jurisdictions in Virginia and Maryland, so they’re not slowing down anytime soon.
Quadrangle was founded in 1971 and got their start redeveloping Pennsylvania Avenue and they haven’t slowed down a bit. With 63 projects completed and 25 still in the pipeline for a combined total of 25,013,666 square feet and 9.6 billion dollars spent they are here to stay. With projects like the Shops at National Place, a three level indoor shopping mall located in downtown Washington DC, Quadrangle has become a part of the culture in this area.
The Gallery Place opened in the Fall of 2004 and has revitalized DC’s East End and the company responsible is Akridge. This company was founded in 1974 and in the years since has developed more than 12 million square feet in the Washington DC area. They were the first property management company to offer full-service concierge service to office building clients as well as annual indoor air quality testing. This type of relationship makes their clients glad to have Akridge as their developer.
These are only three companies that are working to renovate and stimulate the growth of the area in and around America’s capitol. With all this going on you can bet in the coming years that Washington DC will continue to be a hub for tourists …