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Jul 8, 2013, 10:52am EDT

District’s first Walmart-anchored mixed-use project being marketed for sale

Daniel J. Sernovitz, Staff Reporter- Washington Business Journal

                                                                      

The JBG Cos. is seeking buyers for 77 H St. NW, the District’s first Walmart-anchored mixed-use project at H and First streets NW slated to open later this year.The Chevy Chase-based developer has retained Cassidy Turley to market the project to interested developers as it aims to recapitalize its large and growing real estate portfolio in the region.The mixed-use project, which JBG is developing in partnership with The Bennet Group, Clark Builders Group and MV&A Architects, is one of several properties for which JBG has sought to attract buyers or additional investors.

The project at 77 H St. NW could be a particularly alluring offering to investors given Walmart’s status as its anchor tenant. The retailer has signed a lease for 20 years and is slated to open its new, 84,000-square-foot store in November. The project will also include 277 residential units.