Business Ins & Outs July 11, 2018

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In: Architectural Window Corporation
At 3235 P St. NW, Paul DonVito, a third-generation Washingtonian and longtime preservationist, has opened the Georgetown branch of Architectural Window Corporation, a Connecticut-based company that specializes in replacing windows and doors while maintaining historical integrity. Its energy-efficient mahogany, treated pine, aluminum-clad windows and solid wood doors are constructed to render them architecturally indistinguishable from the originals. DonVito managed the creation of the Foxhall Village Historic District and has worked closely with the D.C. Historic Preservation Office for more than 10 years.

Out: Restoration Hardware
Around the time that Architectural Window Corporation arrives, Restoration Hardware, also known as RH, will depart its Georgetown location at Wisconsin Avenue and Prospect Street. The national retailer of home furnishings will be replaced by a much-anticipated Wawa market, set to open by the end of the year.

Temporarily Closed: Wingo’s, English Rose Garden
Due to a recent fire that started in the kitchen of Wingo’s, both the popular O Streeteatery and the upscale flower shop next door, English Rose Garden, are temporarily closed. Some 80 firefighters battled for an hour to get the June 26 fire under control. Both Wingo’s and English Rose Garden plan to reopen as soon as possible.

Out: Chinese Disco

Also leaving this summer is Chinese Disco, which succeeded George nightclub and, before that, Georgetown Billiards. It will be replaced inside Georgetown Court, 3251 Prospect St. NW, with live-music venue Cube & Bale.

Washington Harbour on the Georgetown waterfront. Courtesy MRP Realty.

Sales: Washington Harbour for $415 Million
One of Georgetown’s defining contemporary landmarks is about to be sold again.Dockside on the Potomac River, Washington Harbour is an office, retail and condominium complex with two buildings and a central plaza. The plaza’s fountaintransforms into an ice skating rink in the winter months.

As first reported by the Washington Business Journal: Global Holdings Group, an international real estate investment company with ties to a prominent Israeli family, has a contract to buy Washington Harbour for $415 million, according to sources familiar with the deal.

The 562,105-square-foot property is owned by South Korean investors, who retained Holliday Fenoglio Fowler, L.P., to arrange the sale. HFF said of the property:“Ninety-eight-percent-leased to 31 tenants with seven years of weighted average remaining lease term (WALT), Washington Harbour offers durable cash flow fromentrenched credit tenants with long occupancy histories at the property.”

The complex, located at 3000 and 3050 K St. NW, is managed by MRP Realty, which sold it in 2013 for $370 million.

Opened in 1986 and designed by prominent architect Arthur Cotton Moore, thegathering spot includes Tony and Joe’s Seafood Place, Nick’s Riverside Grill, Farmers Fishers Bakers, Fiola Mare and Sequoia restaurants.

First Anniversary: Pillar and Post

Pillar and Post, 1647 Wisconsin Ave. NW, which brings British home décor to Book Hill, is celebrating its first year in business. Stop by soon and congratulate owner Daphna Peled.

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