wpostServer: http://css.washingtonpost.com/wpost
Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery 04.17.14
    When a company has legal problems, what does it mean for investors?  What does Yelp’s case before the Virginia State Supreme Court mean for Google and TripAdvisor?  And what does Adam Carolla’s legal battle mean for the future of the MarketFoolery podcast?  We tackle those questions and the exciting world of space law with Assistant General Counsel Chris Harris.
  • MarketFoolery: 04.16.2014
    We analyze the world of digital media, including Pandora, iTunes Radio, Spotify with Audiam CEO Jeff Price.  Plus, Jeff discusses how Netflix, Amazon, and many more are fighting in the “Battle for the Living Room”.
  • MarketFoolery 04.15.14
    We discuss the energy industry landscape, including Big Oil, natural gas, solar stocks and more with analyst Taylor Muckerman.  Plus we look at Chesapeake Energy one year after Aubrey McClendon left the CEO office.    
Capital Business
Posted at 05:41 PM ET, 05/07/2012

Anthony Lanier’s EastBanc comes to U Street, H Street


Anthony Lanier, owner of EastBanc, at his office in Washington D.C. (Susan Biddle - For The Washington Post)
Choose at random a storefront or luxury condo building along M Street or Wisconsin Avenue in Georgetown and there is a decent chance Anthony Lanier developed, leased or owned it. No one has had a larger hand in shaping the neighborhood’s commercial corridors than the design-focused developer with a silky gray head of hair and an Austrian accent.

Now Lanier, known to spend much of his time in either Georgetown or Portugal, is branching out into District neighborhoods that have little or none of the luxury housing on which he has made his name.

In April, EastBanc bought an office and retail building above the U Street Metro station, 1250 U Street, for $18.8 million, according to property records. The city’s Department of Parks & Recreation announced in February that it would move its headquarters offices there. In the ground floor there is a Starbucks.

And last week, EastBanc closed on a deal to buy the CVS at the intersection of H Street and Bladensburg Road Northeast for $6.1 million. That site is across the street from Hechinger Mall, and it’s a long way from Georgetown in more ways than one.

For the U Street and H Street real estate markets, Lanier’s entrance could amount to a sort of coronation of their rags-to-riches return from years of boarded-up storefronts and vacant lots to prices that many home buyers and renters can no longer afford.

Next up? Lanier has hinted he has deals lined up on Rhode Island Avenue Northeast as well.

Follow Jonathan O’Connell on Twitter: @oconnellpostbiz

By  |  05:41 PM ET, 05/07/2012

Tags:  Anthony Lanier, EastBanc

 
Read what others are saying
     

    © 2011 The Washington Post Company