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Wal-Mart issued building permits for 2 D.C. stores
Washington Business Journal by Michael Neibauer, Staff Reporter
Date: Thursday, June 14, 2012, 10:21am EDT
Wal-Mart Stores Inc. , the world’s largest retailer, was issued a pair of building permits Wednesday for two of its six proposed District stores, one at 77 H St. NW and the other at 5929 Georgia Ave. NW.
The 83,726-square-foot H Street store, to be developed by The JBG Cos., will be part of a six-story mixed-use project to include 303 apartments, 9,741 square feet of in-line retail and two underground levels of parking.
The District-owned H Street parcel (near its intersection with New Jersey Avenue NW) is the subject of a long-term lease held by New Jersey and H LLC, controlled by the Bennett Group. Under the 99-year lease, the current $15,000 per month rent on the parcel will jump to $2 million per year once construction starts, with a $10 million balloon payment due on May 1, 2018.