460,000-square-foot apartment and retail development launches construction
next to the Nationals ballpark
WASHINGTON, D.C., (May 10, 2017) – Jair Lynch Real Estate Partners (Jair Lynch) today announced that it signed Punch Bowl Social to anchor the retail component of its mixed-use project, “1250.” The new development features a 439-unit class A, mixed-use project (in two buildings) with 55,000 square feet of retail in the Ballpark District, the gateway to the Nationals Park. Punch Bowl Social will occupy 24,000 square feet over two floors. Kevin M. Roberts of Jair Lynch led the lease negotiation. Ben Becker, Jennifer Price and Steve Combs of KLNB represented the landlord.
The leader in the “eatertainment” category, Punch Bowl Social has made a name for itself with its remarkably balanced execution of the eat, drink, play concept, pairing a Chef Hugh Acheson designed, southern inspired scratch-made menu and craft beverage program with social activities including pinball, skee-ball, karaoke, vintage video games, bocce, bowling and more.
KLNB Principal Ben Becker says it was this innovative combination that made it the perfect anchor tenant for 1250. “Early in our process, we identified Punch Bowl Social as a best-in-class operator in the food, beverage and entertainment space. It’s basically impossible to go there and not have fun. They are a perfect tone-setter for 1250 and for developing the Ballpark District at-large into a year-round entertainment destination.”
Jair Lynch broke ground on 1250 in February and expects to deliver the mixed-use project by Spring 2019. Jair Lynch purchased the one-and-a-half-acre site in September of 2014 and created a residential and retail program to compliment the Ballpark-oriented neighborhood and young demographic. The first building, 1250 Half Street SE, 310-unit apartments and ground floor retail, will deliver a truly unique offering in the Ballpark District. The retail spaces will have direct access to approximately 3 million pedestrian visitors each year.
“We are excited for Punch Bowl Social to join us as we transform this neighborhood into a landmark destination for residents in DC and throughout the region,” said Jair K. Lynch.
In addition, the multifamily residents will have unrivaled views into the stadium and front row experiences of living above one of the most dynamic neighborhoods in the District.
Jair Lynch Real Estate Partners is investing in 1250 through a joint venture with McFarlane Partners, a real estate investment management firm that specializes in properties that promote placemaking through smart growth, urban revitalization and sustainability. Jair Lynch is dedicated to acquiring and/or developing urban infill projects in the greater Washington D.C. area, including for-sale and for-lease multifamily housing, office, mixed-use commercial space, retail and select service hotels. Targeted investment types are value-add, opportunistic and ground-up development.
About Jair Lynch Real Estate Partners
Jair Lynch Real Estate Partners specializes in the responsible transformation of walkable urban places. We do this by combining social responsibility with sound economic development in pursuit of creating sustainable, extraordinary neighborhoods that connect to the soul of a place. Founded in 1998, we have developed almost 4.3 million square feet of real estate projects valued at over $1 billion and have over 1.2 million square feet of development in progress valued at more than $600 million. Visit www.jairlynch.com to learn more about the company.
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For inquiries regarding retail leasing opportunities at 1250 please contact KLNB’s Washington, DC office at 202-375-7500.
KLNB is a dominant provider of commercial real estate services throughout the mid-Atlantic region. A full-service commercial brokerage and real estate services firm, KLNB provides a variety of services including tenant and landlord representation, leasing, investment sales, property management, financing, and appraisal & valuation services. Headquartered in Maryland, close to 80 full-time brokerage professionals work across KLNB’s five full-service offices located in Towson and Columbia, Md.; Washington, D.C.; and Dulles and Tysons, Va. http://klnb.com