Key story highlights
- Boundary Cos. has acquired 900 Rhode Island Ave. NE with plans to eventually redevelop the property across from the Rhode Island Ave.-Brentwood Metro station.
- The deal is the second land play for the Chevy Chase-based developer in about a month, following its deal for Children’s National Health System’sShaw clinic.
- The site stands to benefit from momentum growing from other completed or planned projects in the area.
Boundary Cos. is positioning itself to remake a prominent corner near the Rhode Island Ave-Brentwood Metro station in Northeast D.C., where it hopes to tap into growing momentum from other projects in the area like Douglas Development Corp.’s Brookland Press apartments and MRP Realty’s Bryant Street.
The Chevy Chase-based developer closed Friday on its $16 million acquisition of 900 Rhode Island Ave. NE, a 33,350-square-foot office building on the northeast corner of Reed Street NE and Rhode Island Avenue NE. The building, acquired from Franklin & Rocky Properties LLC, is nearly fully leased to tenants including Jimmie Muscatello’s Washington Uniform Center.