Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the listing of Walter Reed mansions located at the Parks at Walter Reed Development. This listing is represented by the Zupancic Group of Marcus & Millichap based in Bethesda, Maryland. The property is located at 1000 & 1010 Butternut Street NW, Washington, District of Columbia 20012.
“This is an extremely unique and exciting marketing and brokerage assignment for our team. We have done a great deal of work within the Walter Reed and Brightwood submarket over the last two decades and are steadfast believers in the neighborhood’s upward trend in terms of real estate investment. Working with the Urban Atlantic, Hines, and Triden partners on this assignment has supplied an opportunity to add even more depth to our understanding of the neighborhood and its future,” says Marty Zupancic, senior vice president investments.
This development includes retail, multifamily properties, condominiums, office space, healthcare facilities, an international school, and a hotel. The great lawn will also serve as a recreational park for community events, an art plaza, a dog park, an outdoor pool, and more. Further, a 40,000-square-foot Whole Foods Market will be the anchor tenant of the development’s market plaza, positioning the surrounding areas to increase in value and desirability.
“Our team has significant experience selling assets that allow buyers to be creative. These two buildings are in a zone (WR-5) that permits various by-right uses including, but not limited to, residential, retail, and office, which is exciting because we get to market to a variety of buyer pools,” says Christian Barreiro, first vice president investments. Dennis Cravedi, John Slowinski, and Eric Jentoft-Herr are assisting Zupancic and Barreiro with the listing.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
