June 22, 2023

Stonebridge led Joint Venture to Develop 225 Unit Multi-Family Building in Bethesda Central Business District

Affiliates of Stonebridge, the Thomas P. Brown Family, and the Lenkin Companies announced today they have formed a joint venture to develop an approximately 225-unit multi-family building at the corner of Old Georgetown Road and St. Elmo Avenue in Bethesda.  ...READ MORE

June 13, 2023

Stonebridge, Rockefeller Start Rare Downtown Office Project After Landing Big Law Firm Lease

The team behind the redevelopment of WMATA's former headquarters near the Gallery Place Metro station has landed a 199K SF tenant, allowing it to start construction on a rare new office project. The 15-year deal with law firm Crowell & Moring represents the largest private sector lease in D.C. since 2019, the developers announced at a groundbreaking ceremony. ...READ MORE

April 6, 2023

Hartman Design Group Presents Carlyle Crossing

Centered in Alexandria, Virginia's Carlyle and Eisenhower Valley area, the Carlyle Crossing development has transformed the region for the future. Anchored by a Wegmans grocery store and surrounded by restaurants and retail, this area is home to two large federal agencies and served by two Metro stations. HDG was tasked with designing the amenity spaces in two of three of the multifamily communities in the development: The Easton and Reese Tower. ...READ MORE

March 21, 2023

Tracy Vargo Joins Stonebridge as New Principal

Tracy Vargo, formerly a principal with Frederick, Maryland-based Matan Cos., joins Doug Firstenberg, Kent Marquis and Kevin Cosimano as Stonebridge’s fourth principal. ...READ MORE

January 30, 2023

Beer, Bakeries and Boxing: More Retailers to Open at Carlyle Crossing in 2023

Seven new retailers are opening this year in Carlyle Crossing, a 1.7 million-square-foot mixed-use development in Alexandria, Va.’s Eisenhower East neighborhood. ...READ MORE

January 6, 2023

Atlas Brew Works Expands to Carlyle Crossing

 Atlas Brew Works and Andy's Pizza join a growing list of retailers signing on some of the 210,000 square feet of retail and restaurant space at the Wegmans Food Market-anchored project in Alexandria’s Eisenhower East neighborhood. ...READ MORE

September 1, 2022

District Dogs in talks to join Wegmans-anchored Carlyle Crossing

Doggy day care business District Dogs is in talks to establish a new location at Carlyle Crossing, the Wegmans-anchored mixed-use development that opened earlier this year near the Eisenhower Avenue Metro station in Alexandria. ...READ MORE

July 12, 2022

Carlyle Crossing lands two more retail tenants

Stonebridge's Wegmans-anchored Carlyle Crossing lands two more retail tenants. ...READ MORE

June 20, 2022

The $300 million facelift of WMATA's longtime headquarters moves forward

WMATA has selected Stonebridge and the New York-based Rockefeller Group to redevelop the eight-story, 360,000-square-foot building, which has been its headquarters for 50 years. ...READ MORE

April 15, 2022

Stonebridge files plans to redevelop Alexandria's former Victory Center

Bethesda developer Stonebridge applied Friday to turn Alexandria’s former Victory Center and its surrounding sea of parking into multifamily and townhouses. ...READ MORE

March 10, 2022

Stonebridge Launching EvolutionLabs Program, Developing 800,000 SF Purpose-Built Lab Pipeline in Montgomery County, Maryland

Stonebridge announced today that it is launching its EvolutionLabs program focused on the delivery of purpose-built labs to meet the needs of the growing life science companies in Montgomery County. ...READ MORE

November 16, 2021

Construction begins for Inova’s massive Oakville Triangle project

It wasn’t so much a groundbreaking as it was a wall-breaking, as local dignitaries smashed their way to a new future at the new Inova Oakville at Potomac Yard on Monday (Nov. 15). ...READ MORE

August 25, 2021

StonebridgeCarras Completes Capitalization of Oakville Mixed-Use Development Project in Alexandria, VA

StonebridgeCarras and PCCP, LLC announced today that a series of sale transactions had been completed that will allow the development of the Oakville Triangle mixed-use development project in Alexandria, Virginia adjacent to the National Landing area and near the Potomac Yard Metro Station and the Virginia Tech Innovation Campus. ...READ MORE

August 5, 2021

Wheaton Revitalization honored with ENR merit award for Government Public Building

Although it was hard to find something to celebrate in 2020, ENR MidAtlantic’s Best Projects judges took comfort in the fact that great projects were still completed despite a year full of challenges. This year’s judges honored 32 projects from across the region. ...READ MORE

March 15, 2021

Montgomery County Aims To Accelerate Approval Process To Spur More Development

Montgomery County is looking to position itself as a more business-friendly jurisdiction that can better compete with D.C. and Virginia for investment, and it is starting by fixing its development approval process. ...READ MORE

March 9, 2021

50,000 sq. ft. COVID-19 Vaccination Center to Open in Alexandria by the End of the Month

ALEXANDRIA, VA–Tuesday March 9, 2021, at 11am, Mayor Justin Wilson announced the opening of the new Inova Stonebridge COVID-19 Vaccination Center, at 5001 Eisenhower Avenue. ...READ MORE

January 26, 2021

Developers pick architect, leasing brokers for Metro HQ redevelopment

The team behind the redevelopment of Metro's longtime downtown D.C. headquarters has selected Pickard Chilton of New Haven, Connecticut as the project's lead architect and CBRE to market the new office space. ...READ MORE

January 20, 2021

Stonebridge Sells Piece Of Oakville Triangle Site To Townhouse Builder

The Oakville Triangle development in Alexandria's Potomac Yard neighborhood is taking new steps forward. Stonebridge is under contract to sell a 3.5-acre piece of the site to Winchester Homes to build an 84-unit townhouse project, Stonebridge principal Doug Firstenberg tells Bisnow. ...READ MORE

December 10, 2020

Stonebridge, Rockefeller Close Deal For Metro's HQ, Plan To Add 3 Floors Of Office

The development team of Stonebridge and Rockefeller Group plans to announce Friday it closed a deal with Metro to redevelop the Jackson Graham Building in Chinatown, Bisnow has learned. ...READ MORE

December 10, 2020

Stonebridge, Rockefeller Close Deal For Metro's HQ

Stonebridge and Rockefeller plan to launch a redevelopment of the property in 2023 that is expected to cost at least $300M, Stonebridge principal Doug Firstenberg told Bisnow. ...READ MORE

April 17, 2020

With Inova on board, Stonebridge advances new plans for Alexandria's Oakville Triangle

The redevelopment of Oakville Triangle, an industrial area in Alexandria adjacent to Potomac Yard, is finally moving ahead. ...READ MORE

April 16, 2020

Stonebridge Sells Piece Of Eisenhower Avenue Office Property To Townhouse Developer

After acquiring a long-vacant Alexandria office building last year, Stonebridge is moving forward with plans to add residential to the site. The developer reached an agreement to sell a 6-acre piece of the 5001 Eisenhower Ave. property to Winchester Homes, the homebuilder announced Thursday. ...READ MORE

April 16, 2020

Winchester Homes Expands Northern Virginia Presence With Alexandria Project

Winchester Homes, an award-winning regional homebuilder, is pleased to announce the agreement to purchase 6.14 acres for the Winchester Eisenhower Avenue Townhomes project in Alexandria, Va. ...READ MORE

Feb 10, 2020

Metro headquarters to transform into a modern commercial office building

Metro has reached a deal to lease its soon-to-be vacated downtown headquarters to a development group that will remake the 46-year-old building into a modern commercial office space that could house more than 1,500 employees and bring new life to solemn Judiciary Square, according to a proposal to be presented to the board this week. ...READ MORE

Feb 10, 2020

Rockefeller Group and Stonebridge Selected for Redevelopment of Metro’s Jackson Graham Building Site

WASHINGTON D.C. – Feb. 10, 2020 – Rockefeller Group and Stonebridge announced today a joint venture to redevelop the Jackson Graham Building site, a 48,401-square- foot parcel that includes the eight-story office building located at 600 5th Street NW. The site is owned by the Washington Metropolitan Area Transit Authority (Metro), which selected Rockefeller Group and Stonebridge following a formal request for proposals that began in 2019. ...READ MORE

Dec 20, 2019

Wegmans-anchored Alexandria project hits key milestone

The developers behind Carlyle Crossing, the Wegmans-anchored mixed-use development going up near the Eisenhower Avenue Metro station in Alexandria, have lined up $253 million in financing for the project. ...READ MORE

Sep 20, 2019

Constitution Square Owners Sell Last Piece of DC Project That Kick-Started NoMa’s Rise

The fourth and final office building completed at Constitution Square has sold as part of a project that more than a decade ago helped propel D.C.'s NoMa neighborhood from relative obscurity to a thriving office and apartments market. ...READ MORE

September 20, 2019

Stonebridge Sells Last Piece Of Constitution Square For $140M

Stonebridge, the developer that helped turn NoMa into a commercial hub has sold the last interest of its signature development. ...READ MORE

Sep 3, 2019

Stonebridge, Rockwood Buy Clark Building In Downtown Bethesda

One of the most recognizable buildings in Downtown Bethesda's skyline has traded hands. Stonebridge and Rockwood Capital announced Tuesday they acquired the Clark Building at 7500 Old Georgetown Road ...READ MORE

May 30, 2019

Stonebridge starts work on $300M spec Bethesda project

Stonebridge Associates has broken ground on its $300 million mixed-use project in the heart of downtown Bethesda, a project hailed by local leaders as a blueprint for new development in Montgomery County’s urban areas ...READ MORE

May 28, 2019

Stonebridge to seek multifamily developers for part of Victory Center

Stonebridge Associates plans to seek multifamily developers to reshape part of Victory Center now that Alexandria City Council has voted to change part of the property's zoning from commercial to residential ...READ MORE

May 28, 2019

Stonebridge Closes Deal For Vacant Alexandria Office Building, Plans To Add Residential And Retail

The parking lot around an Alexandria office building is being tapped for mixed-use development as the new owner aims to spur leasing at the long-vacant property. Stonebridge closed on its acquisition of the 607K SF office building at 5001 Eisenhower Ave., formerly known as Victory Center, for $43M, according to a source with knowledge of the deal ...READ MORE

April 22, 2019

Stonebridge moving quickly to prep Victory Center site for new development

Stonebridge Associates doesn't own Victory Center yet, but it is already moving to entitle the long-dormant Alexandria property for new uses. The Alexandria Planning Commission is scheduled May 7 to consider a subdivision and rezoning for a roughly 7-acre portion of the 16-acre Victory Center site, filed by Bethesda-based Stonebridge. Per the application, the proposed rezoning to the high-density, commercial residential mixed-use district will “allow for a vibrant mixed-use development that includes the retention of the Victory Center office building with the addition of town homes to the east." ...READ MORE

April 10, 2019

Stonebridge's acquisition of Victory Center seen as hopeful sign for Alexandria

The building at 5001 Eisenhower Ave. has been a proverbial white elephant for its current owner, an affiliate of PGIM Real Estate, missing out on multiple prospects since the Army Materiel Command moved out in 2003. That included winning the competition for the Transportation Security Administration's headquarters only to have a federal judge void the deal in 2015. Stonebridge, which is slated to close on its acquisition in late May for an undisclosed price, is pursuing additional development on other parts of the 16-acre property while seeking tenants for the existing building. That could include a mix of townhouses and retail space, uses Stonebridge Principal Doug Firstenberg hopes will make the office space more attractive to prospective users. ...READ MORE

April 9, 2019

Stonebridge to acquire Victory Center in Alexandria

Stonebridge Associates has reached a deal to acquire Victory Center in Alexandria for an undisclosed price with the aim of bringing new life to the long-dormant property. The Bethesda-based developer hopes to do what the building's current owners have been unable to for about16 years: land a rent-paying office tenant. The property at 5001 Eisenhower Ave., which has been vacant since the Army Materiel Command relocated in 2003 to Fort Belvoir, is assessed at $70.9 million, according to Alexandria assessment data. Stonebridge is slated to close on its acquisition in late May. Stonebridge plans to aggressively court new office tenants, including the General Services Administration and other federal agencies. The 16-acre property has additional development potential, and Stonebridge Principal Doug Firstenberg said he is exploring uses to drive additional office leasing at the site. ...READ MORE

January 9, 2019

Stonebridge to build $300M Bethesda Tower

In the market for spec office space in Bethesda? Doug Firstenberg has you covered. Firstenberg, principal of Stonebridge, said his firm will begin construction in March on its $300 million Avocet Tower mixed-use development at 7359 Wisconsin Ave. featuring a trophy office tower that will soar 300 feet into the air with a rooftop terrace and 220-unit AC by Marriott hotel. If completed as expected by spring 2021, the development will add to other speculative trophy office buildings in Bethesda, where developers are locking in tenant deals for between $60 to $70 per square foot. Consider JBG Smith's 287,183-square-foot 15-story office building at 4747 Bethesda Ave. that is nearly fully leased with rents in that range, and a 360,000-square-foot trophy office tower called The Wilson by Carr Properties at 7272 Wisconsin Ave., which is more than halfway leased. "The leasing velocity has been phenomenal," Firstenberg said. "Bethesda has always been a great location. But there hasn't been a lot of new quality office space, and now you are getting trophy space. You have all these tenants looking for high-quality trophy looking buildings." He said StonebridgeCarras hopes to lease the 370,000-square-foot office building near the future Bethesda Metro entrance and Purple Line Station entrance to law firms, financial companies and professional services companies for rents of $65 per square foot. ...READ MORE

January 4, 2019

People to watch in 2019; Doug Firstenberg, Principal, Stonebridge

It might be an understatement to call 2018 "eventful." After all, venture funds raised hundreds of millions of dollars, while businesses and startups may have seen the biggest funding year outside of the dot-com era. Sequestration-related austerity gave way to what analysts describe as a tech modernization powder keg in the federal government, even as the region's contractor community minted several billions-dollar marriages. The #MeToo movement came for a local celebrity chef, while a Northeast D.C. hospital made moves to shut its doors. Oh, and we brought home the Stanley Cup. And then there was HQ2. But 2019 promises to be no slouch either. Amazon (NASDAQ: AMZN) will begin to set up shop in Crystal City this spring and Virginia Tech will embark on its $1 billion innovation campus in Alexandria. From Silver Spring to Anacostia, developers aim to keep the momentum going, new restaurateurs and retailers aim to add vibrant twists to their surroundings and emerging startups aim to be the next, well, Amazon. So, who will be moving the ball forward this year? These are the D.C.-area business leaders we'll be keeping tabs on in 2019. ...READ MORE

December 12, 2018

StonebridgeCarras and Bozzuto to acquire the MNCPPC's 8787 Georgia Ave. Site by 2021

More than 900 Montgomery County staffers will be moved from older offices scattered around the county into a new $152 million headquarters facility in Wheaton by summer 2020. The move is part of an effort to create fresh digs for several county agencies currently located in Silver Spring, Rockville and Wheaton, and to create a central town square that will enliven the area around the Wheaton Metro station. Montgomery County is the master developer of the new 14-story, Class A building at 2425 Reedie Drive. It is being constructed by a joint venture of Bethesda-based StonebridgeCarras LLC and Greenbelt-based Bozzuto. ...READ MORE

November 13, 2018

Stonebridge Selected to Develop Virginia Tech Innovation Campus in Alexandria, VA

Virginia Tech is widely known for its long-standing excellence in computer science, engineering, data analytics, and technology. The university ranks No. 8 in the nation for engineering research expenditures, according to the National Science Foundation Higher Education Research and Development Survey, and the College of Engineering No. 13 for its undergraduate program, according to U.S. News & World Report’s 2019 rankings.“Today is a historic day for the commonwealth,” saidU.S. Sen. Mark Warner (D-VA). “The Innovation Campus will transform Virginia’s high-tech economy while also providing a pipeline of talent to industry all over Virginia, including Amazon. Once fully launched, it will benefit educational institutions and regions across  the commonwealth.”Virginia Tech has entered into a memorandum of understanding with Stonebridge Associates Inc. and the City of Alexandria to expedite construction. The Innovation Campus will be located on land owned by investment firm Blackstone Group LP’s real estate fund. The land, commonly referred to as Oakville Triangle, will be developed by StonebridgeCarras.                     ...READ MORE

July 25, 2018

Wegmans, NSF Driving New Wave Of Development On Alexandria's Eisenhower Avenue

Alexandria's Eisenhower Avenue corridor has grown significantly since the U.S. Patent and Trademark Office moved nearly 10,000 employees there in 2005. Now, with the National Science Foundation bringing 4,000 more workers and popular grocer Wegmans signing on, the corridor is poised for another major wave of development. Near the Parc Meridian building, Paradigm is planning a mixed-use development with a 25-story, 404-unit apartment tower and a 10-story, 184-room hotel. The developer is still going through the design process and hopes to break ground by late 2019. The development would then deliver around the same time Wegmans plans to open a few blocks away at StonebridgeCarras' Hoffman Town Center project, another potential demand driver for the area. "Wegmans is a really quality grocer, and a lifestyle grocer that we think our residents will really like; we think it's good for all of the projects down there," Sloter said. "We've done well at Eisenhower for many years and feel like the whole plan is starting to come together. I think the synergy will make this much more attractive competing against other residential in the region." ...READ MORE

May 22, 2018

StonebridgeCarras and Donohoe Announce Plans for 175,000 SF Development in Bethesda, Maryland

StonebridgeCarras and The Donohoe Companies announced plans today for their project at 8280 Wisconsin Avenue which will focus its 175,000 square feet of commercial space on bringing life sciences to the Bethesda Central Business District (CBD). StonebridgeCarras and Donohoe’s vision for the project is to capitalize on two converging trends: employers locating their offices in live, work and play environments with access to mass transportation; and life sciences companies co-locating near thought leaders and institutions driving research and advancement. “The Bethesda CBD has continued to demonstrate its great success in attracting a wide range of companies to its premier mixed-use environment,” said Douglas M. Firstenberg, a Principal with StonebridgeCarras. “Further, it represents one of the most attractive untapped markets to locate life sciences near two world-class institutions at the northern edge of the Bethesda CBD – the National Institutes of Health and the Walter Reed National Medical Center.” ...READ MORE

May 9, 2018

BlackRock Buys Flats At Bethesda From StonebridgeCarras, PN Hoffman

StonebridgeCarras and PN Hoffman are cashing out of a luxury Bethesda apartment project they jointly developed in 2015. The developers sold the 162-unit Flats at Bethesda to a fund managed by BlackRock Real Assets. The sale closed for $143.5M, according a source familiar with the deal. HFF's Stephen Conley, Sue Carras, Walter Coker, Brian Crivella, John Owendoff and Jorden Lex brokered the deal. The property, at 7170 Woodmont Ave., includes 40K SF of ground-floor retail that is fully leased to Pottery Barn, PassionFish, Silver, Chop't, Paul and Long & Foster Real Estate. It sits across the street from the Bethesda Row retail center. ...READ MORE

April 30, 2018

StonebridgeCarras and Donohoe Propose 145-Foot-Tall Bethesda Office Project

StonebridgeCarras is adding to its Bethesda development pipeline with a 145-foot-tall Woodmont Triangle office building.  The developer, in partnership with Donohoe Cos., submitted a sketch plan application with Montgomery County for a 185K SF office building at 8280 Wisconsin Ave., Bethesda Magazine reports. The plan calls for a 145-foot-tall office building with up to 185K SF on the 0.44-acre site. It would also have 110 parking spaces and about 750 SF of open space along Wisconsin Avenue.  ...READ MORE

April 18, 2018

StonebridgeCarras Closes on Key Parcels for $350M Hoffman Town Center

A joint venture between StonebridgeCarras and Chicago-based Creek Lane Capital announced Wednesday it has purchased 5 acres in Alexandria for its Hoffman Town Center project, allowing the companies to move forward on construction on the 1 million-square-foot mixed-use development anchored by a Wegmans grocery store in early 2019.  Doug Firstenberg, a principal with Bethesda's StonebridgeCarras, declined to disclose the price that the joint venture paid for blocks 4 and 5 from the Hoffman family. But he said the companies have been under contract to buy the properties, which will encompass the northern-most point of retail activity for the project, for about two years. ...READ MORE

February 8, 2018

Planning Board Gives Thumbs Up to Hotel, Office Tower at Bethesda Police Station Site

County planning officials on Thursday praised a project to build a 250-foot “trophy” tower designed at a quality level not seen before in downtown Bethesda. But they don’t necessarily want other developers to copy Avocet Tower, the project at 7359 Wisconsin Ave., Montgomery County Planning Board members said. “This is an internationally known architectural firm. The artist is an internationally known artist, and it’s taking things to the kind of level of design excellence that we’ve been striving for,” Planning Director Gwen Wright said. “But I do think we have to be careful because others may try to say, ‘Well, you know, we can do this with the local architect we hired down the street.’ ” The board approved a package of plans for the project that will bring a roughly 220-room AC Hotel by Marriott and 400,000 square feet of office space. The 1.5-acre project site at the corner of Montgomery and Wisconsin avenues is now occupied by a county police station, Carpet Palace and an office building. “Hopefully, you’ll see today a development that, in our opinion, is really a phenomenal place-maker in the new Bethesda downtown,” said Jane Galbraith Mahaffie, a principal for the developer StonebridgeCarras. ...READ MORE

January 22, 2018

New 2nd District Police Station opens in Bethesda

Montgomery County government and police officials cut the ribbon Monday for the new 2nd District police station in downtown Bethesda. The four-story, 38,000-square-foot station opened on 4823 Rugby Ave., marking the end of an era for the district’s former longtime station at the corner of Wisconsin and Montgomery avenues, which opened in 1961. Bethesda-based developer StonebridgeCarras built the station as part of a public-private partnership in which the county gave the company the property of the former police station, which is across the street from the Bethesda Metro stop.County Council member Roger Berliner, who represents Bethesda, said the partnership was a “win-win for the private and public sector” and congratulated the local police force on the new facilities. ...READ MORE

December 4, 2017

Peace Corps To Move To 173K SF In NoMa

NoMa has lured another federal agency away from D.C.'s more established office submarkets.  The General Services Administration announced Monday it signed a 173K SF lease to relocate the Peace Corps to NoMa's One Constitution Square. The agency plans to move from 1111 20th St. NW in 2019. Its new home will be renamed the Paul D. Coverdell Peace Corps Headquarters, after a former U.S. senator and Peace Corps director. "The new, modern headquarters will enhance our agency's efficiency and productivity," Peace Corps CEO Sheila Crowley said. "The move to a green, thoughtfully configured space will allow our dedicated staff to better serve the public and fulfill the Peace Corps' mission of promoting world peace and friendship." StonebridgeCarras, in partnership with Walton Street Capital, developed the 350K SF office building at 1275 First St. NE in 2010, part of Constitution Square's first phase.   ...READ MORE

November 14, 2017

StonebridgeCarras Announces Wegmans Anchor Lease for Hoffman Town Center Project

The city of Alexandria is the latest to be graced with grocery favorite Wegmans: The chain will open an 84,000-square-foot store at Hoffman Town Center on the Eisenhower Avenue corridor.  The news confirms what WBJ first reported in May, that Wegmans was in talks to anchor StonebridgeCarras' 1 million-square-foot mixed-use project on 5 acres inside Hoffman Town Center. Wegmans’ entrance would be located on the corner of Stovall and Mandeville streets.  “Our pitch was, you can’t find a site with this combination of urban density, Metro access and regional road network,” said StonebridgeCarras CEO Doug Firstenberg. “For retail it’s phenomenal.”  StonebridgeCarras expects to begin construction in early 2019 and deliver the first components in 2021. In the meantime, it’ll work on leasing up the rest of the retail space. Sam Hodges and Dimitri Georgelakos are representing StonebridgeCarras in the retail leasing. Hodges also represented Wegmans in that lease deal.  ...READ MORE

November 9, 2017

StonebridgeCarras Expects to Begin Construction on 500,000 SF Development in 2019

Downtown Bethesda will get an AC Hotel, the buzzy hotel brand from Marriott International (NASDAQ: MAR), when StonebridgeCarras and its hotel partner, OTO Development, open a new mixed-use project at 7373 Wisconsin Ave. in 2021.  StonebridgeCarras expects to begin construction on the 500,000-square-foot development, which includes a 390,000-square-foot trophy office building, in 2019. The 219-room AC Hotel will be located on the corner of Wisconsin and Montgomery avenues, with the hotel’s ground-floor lounge spilling out onto a public plaza.  OTO Development is a hotel developer and manager that has worked with StonebridgeCarras in the past. The two partnered on the Constitution Square development in NoMa that includes a Hilton Garden Inn. Buvermo Investments Inc., a Bethesda-based real estate investment firm, is also a partner on the Bethesda project. ...READ MORE

September 27, 2017

StonebridgeCarras Sets Stage for its $300M Bethesda Tower

StonebridgeCarras has set an ambitious timeline for its $300 million redevelopment of a prime corner in Bethesda, where it intends to build one of the area's tallest buildings. In a recently filed statement of justification for the 7359 Wisconsin Ave. project, Bethesda-based StonebridgeCarras said it expects a Montgomery Planning Board public hearing in January, to begin demolition of the three existing buildings at the site in the third quarter of 2018, and to deliver the project in early 2021. It’s an aggressive entitlement schedule, the statement says, in order to meet market conditions. The project involves the construction of a 250-foot-tall office and hotel project on the site of what is now Montgomery County’s Second District Police Station and several other low-rise buildings. ...READ MORE

August 28, 2017

StonebridgeCarras Announces Plans for $300M Bethesda Office and Hotel Project

StonebridgeCarras and Buvermo Investments, Inc. announced today their plans for the project at 7359 Wisconsin Avenue will include a 390,000 square foot office building and a 225 key hotel.  They have also announced that for the trophy office and hotel project: The Jones Lang LaSalle team of Trip Howell, Amy Bowser and Bernie McCarthy has been selected as the leasing agents for the office project. Pickard Chliton of New Haven, Connecticut has been retained as the Design Architect and Cooper Carry Associates has been selected as the architect of record for the project. ...READ MORE

July 10, 2017

StonebridgeCarras Acquires Final Parcel for 500k SF Downtown Bethesda Project

StonebridgeCarras and Buvermo Investments, Inc. announced today that they have closed on the land and building at 4630 Montgomery Lane in downtown Bethesda, Maryland, completing the assemblage of three parcels at the corner of Wisconsin Avenue and Montgomery Lane, resulting in one of the premier development sites in the Greater Washington Area.  Under the recently adopted Bethesda Central Business District Sector Plan, the site can be developed with up to 250 feet of height and will result in a commercial project of approximately 500,000 square feet. ...READ MORE

December 5, 2016

StonebridgeCarras to develop part of Hoffman Town Center

StonebridgeCarras is gearing up to launch a $400 million development at Hoffman Town Center in Alexandria, a mixed-use complex it sees as strong on attractions like the AMC Hoffman Center 22 multiplex but lacking in the kind of energy needed to make the most of the area. ...READ MORE

September 23, 2016

After signing massive federal lease in NoMa, StonebridgeCarras cashes out

The federal government's decision last year to ink one of the largest government leases in D.C. history has led to one of the largest investment sales this year. StonebridgeCarras and Walton Street Capitol have sold the third and fourth installments of their Constitution Square development in NoMa for $421.8 million to a partnership of MetLife and Norway's Norges Bank. The sale, which works out to about $500 per square foot, comes nearly a year after the Justice Department signed an 839,000-square-foot lease for all of Three Constitution Square and the as-yet-unbuilt Four Constitution Square. ...READ MORE

June 21, 2016

Luxury Bethesda High-Rise Sells for $207M, One Month After Opening

A JV of StonebridgeCarras and Walton Street Capital just opened 8300 Wisconsin Ave a month ago, but the partnership has already sold the nine-story, mixed-use building for a record-breaking price. The 359-unit building at 8300 Wisconsin Ave sold for $207M at an estimated roughly $520k price per unit, Bisnow has learned. ...READ MORE

June 9, 2016

StonebridgeCarras and PN Hoffman announce The Darcy and The Flats Receives National Public-Private Partnership Award

PN Hoffman announced today that The Darcy and The Flats, a mixed-use development in Bethesda, MD, received The National Council for Public-Private Partnership’s (NCPPP) 2016 Project Innovation Award for The Darcy and The Flats. This prestigious award will be presented at Venue SIX10 in Chicago on June 28th as part of the P3Connect 2016 conference. ...READ MORE

April 29, 2016

Washington Business Journal Best Real Estate Deals of 2015: The Perseverance Award - Lot 31

Today, a luxury mixed-use development sits prominently at the corner of Bethesda and Woodmont avenues in downtown Bethesda. It is the result of a decade-long process that, though ultimately successful, was fraught with obstacles and uncertainty. We now know this project as The Darcy and The Flats at Bethesda Avenue. It began as Lot 31. ...READ MORE

April 28, 2016

Washington Business Journal Best Real Estate Deals of 2015: Three and Four Constitution Square

Government agencies used to have the luxury of custom-designed headquarters, but no more.  Over the past few years, they have been required by the federal government's landlord, the General Services Administration, to shrink their footprints and consolidate operations within eco-friendly, spec-built offices. ...READ MORE

March 9, 2016

Leggett, StonebridgeCarras, and Police Chief Manger Join Other Officials for New 2nd District Police Station Groundbreaking Ceremony

Montgomery County Executive Isiah Leggett today participated in a groundbreaking ceremony for the new 2nd District Police Station. This project results from a public-private partnership between Montgomery County and StonebridgeCarras, LLC, who is constructing the new facility at 4823 Rugby Avenue in Bethesda. ...READ MORE

February 10, 2016

StonebridgeCarras to transform industrial park opposite Potomac Yard

Potomac Yard's industrial neighbor, the Oakville Triangle, is on the verge of a total transformation. StonebridgeCarras, on behalf of landowner The Blackstone Group, expects to break ground in the summer of 2017 on Oakville, a 1.5 million-square-foot development located on 13 acres bounded by Route 1 to the South, Fannon Street and Mount Jefferson Park to the west and north, and Calvert Street to the east. ...READ MORE

October 14, 2015

StonebridgeCarras’ Constitution Square Wins 839,000 Square Foot Department of Justice Lease

StonebridgeCarras announced that the U.S. General Services Administration (GSA) has awarded a 839,000 square foot, 15-year lease for the Department of Justice (DOJ) to occupy all of the Three Constitution Square and Four Constitution Square office buildings ...READ MORE

August 25, 2015

The Darcy: 'The corner of Main and Main' in Bethesda

While new condos in Bethesda and Washington seem to be sprouting on every corner like bamboo, few have a prime location equivalent to that of Darcy, a new high-rise at Woodmont and Bethesda avenues in downtown Bethesda developed by PN Hoffman and StonebridgeCarras ...READ MORE

June 25, 2015

Sneak Peek: Alexandria's Next Big Project

Across from Potomac Yards, near a future Metro stop, sits a 16-acre industrial park,  In two years though, you'll see a 1.5M SF mixed-use project that includes affordable housing and a large Central Park-style gathering place. (We can finally-recreate scenes from Home Alone 2 without schlepping all the way to New York.) ...READ MORE

November 24, 2014

Sale Closes of Flats 130 at Constitution Square in Washington, D.C.

StonebridgeCarras announced that it has closed on the $295 million sale of Flats 130 at Constitution Square, a 643-unit, Class A apartment community with a 50,000 square foot Harris Teeter grocery store in Washington, D.C.’s NOMA neighborhood. A joint venture between affiliates of StonebridgeCarras and Walton Street Capital, L.L.C. (“Walton Street”) sold the development to TIAA-CREF ...READ MORE

October 24, 2014

Leggett, StonebridgeCarras and Bozzuto Announce Agreement for Redevelopment of Downtown Wheaton

Montgomery County Executive Isiah Leggett today announced the signing of a public-private partnership agreement that will remake the downtown Wheaton Triangle. The agreement will also create a new Georgia Avenue gateway to Silver Spring with mixed-use development on the site of the current headquarters of the Maryland-National Capital Park and Planning Commission (M-NCPPC), which also houses the County’s Planning Board and Planning Department staff. ...READ MORE

September 17, 2014

StonebridgeCarras and Buvermo Investments Close on Land to Move Forward with a Public Private Project With Montgomery County for 2nd District Police Station and New Mixed-Use Development in Bethesda, Maryland

StonebridgeCarras and Buvermo Properties announced today that they have closed on the land on 4823 Rugby Avenue to construct a new 32,000 square foot state-of-the-art home for Montgomery County’s 2nd District. Upon completion of the station, projected for late 2016, the County will take possession of the new station and transfer the land for the old station at 7359 Wisconsin Avenue to the StonebridgeCarras/Buvermo venture. For 7359 Wisconsin, StonebridgeCarras is planning a mixed-use development under the guidelines to be provided in the new master plan for the Bethesda Central Business District. ...READ MORE

June 18, 2013

NAIOP Sustainable Development Award Honors StonebridgeCarras for 200 I Street Project

NAIOP, the Commercial Real Estate Development Association, today announced that it has selected StonebridgeCarras as the recipient of its annual Sustainable Development Award. The award will be presented during a special ceremony on Wednesday, October 9, at NAIOP’s Development ‘13: The Annual Meeting for Commercial Real Estate, in San Diego, Calif. ...READ MORE

April 26, 2013

Deal of the Year: The impact of Canal Park and 200 Eye St. SE on the Capitol Riverfront

Countless developers, government officials, business leaders and civic activists have played crucial roles in the evolution of Capitol Riverfront from industrial no-man’s land into one of the most sought after mixed-use neighborhoods in Washington. ...READ MORE

February 7, 2013

Harris Teeter Leases at 8300 Wisconsin Avenue in Bethesda, MD

Harris Teeter will open a 50,000 square foot full-service grocery store in Bethesda, MD under a 20-year lease announced today by StonebridgeCarras. The upscale North Carolina-based grocery chain will join 8300 Wisconsin Avenue, a mixed-use complex located at the northern gateway to the Bethesda Central Business District. The store will be located at the corner of Woodmont Avenue and Battery Lane. ...READ MORE

March 23, 2012

Nevamar plant razed to pave way for upscale apartments

StonebridgeCarras was looking to finance the building of an apartment complex in Odenton. It was 2009 and conventional bank financing for construction projects had pretty much dried up. "We were right in the middle of the financial meltdown," said George Carras, StonebridgeCarras' co-founder and co-manager. "It was virtually impossible to get financing." ...READ MORE

December 5, 2011

StonebridgeCarras, PN Hoffman join with Northwestern Mutual to undertake new mixed-use development in Bethesda, Maryland

StonebridgeCarras and PN Hoffman announced today that they have formed a joint venture with Northwestern Mutual to develop a mixed-use project in the heart of Bethesda’s prime commercial district at the corner of Woodmont and Bethesda Avenues. ...READ MORE

October 21, 2011

Stonebridge moves forward in NoMa, Bethesda

Is there such a thing as a "field of dreams" for commercial real estate developers? Douglas Firstenberg thinks so, and he is betting $150 million on it. Firstenberg and his Bethesda-based broke ground Oct. 17 on a 345,000-square-foot office building in the District’s NoMa neighborhood. ...READ MORE

October 17, 2011

StonebridgeCarras launches $150M project

StonebridgeCarras broke ground Monday on a 345,000-square-foot spec development in the District's NoMa neighborhood. Is there such a thing as a Field of Dreams for commercial real estate developers? Douglas Firstenberg thinks so, and he’s betting $150 million on it. ...READ MORE

July 1, 2011

StonebridgeCarras, Bozzuto plan $75M complex in Odenton

Two local developers are teaming up on a $75 million redevelopment of the former Nevamar formica plant in Odenton, where they’re hoping to tap into a rising demand for apartments. StonebridgeCarras and the Bozzuto Development Group plan to break ground this fall on the Flats 170 at Academy Yards, a 369-unit apartment complex at Telegraph and Annapolis roads in Anne Arundel County. The apartments are just the first phase of the 55-acre site’s redevelopment, to include more homes, shops and offices in the years to come. ...READ MORE

May 2011

Constitution Square Wins Major Industry Awards

Constitution Square is a seven acre, 2.5 million square foot mixed-use development located in Washington, DC’s NoMa neighborhood. NoMa, just blocks from the United States Capitol and the Union Station rail station, has revolutionized in the past five years from its industrial roots as a rail yard to the most vibrant new neighborhood in Washington. The recent completion of Constitution Square’s 1.6 million square foot first phase of development – office, retail, residential and hotel – has officially transformed NoMa from an emerging market into a lively mixed-use environment for businesses and residents alike. ...READ MORE

March 8, 2011

StonebridgeCarras and Walton Street Capital Acquire former Trillium Site in Bethesda – Plan Mixed-Use Development

StonebridgeCarras and Walton Street Capital, L.L.C. announced today that a joint venture of their affiliates has acquired the 1.6 acre former Trillium site located at the northern gateway to the Bethesda CBD for $29,250,000. The site, bounded by Wisconsin Avenue, Woodmont Road and Battery Lane, had been planned as a residential condominium development. ...READ MORE

February 15, 2011

Gray Administration, StonebridgeCarras Break Stone at 200 I Street, SE, Celebrate Important Public-Private Partnership for District of Columbia

District of Columbia Mayor Vincent C. Gray joined StonebridgeCarras at a ceremonial “stone breaking” event today to officially begin the redevelopment of 200 I Street, SE (formerly 225 Virginia Avenue). StonebridgeCarras, along with the District’s Department of Real Estate Services (DRES), developed the strategy of a purchase and then lease-leaseback arrangement that provides the District with the ability to transform a long vacant printing facility into 320,000 square feet of quality office space for District agencies and a public art gallery. ...READ MORE