Business Ins & Outs: Ron Paul, Compass Coffee & Jonathan Adler

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Compass Coffee opens in the former Georgetown Theater.

EAGLEBANK’S RON PAUL RETIRES

Ron Paul, CEO, chairman and co-founder of Eagle Bancorp, Inc., parent company of EagleBank, announced his immediate retirement due to health issues on March 21. In 1998, with others, Paul founded EagleBank, which held $8.4 billion in assets as of Dec. 31, 2018.

“I am very disappointed to have to make this decision, but I do not believe it would be fair to the Company, its employees, customers and shareholders when my health prevents me from devoting my full attention to helping them develop and prosper,” Paul said in a statement from the corporation, which did not elaborate on Paul’s health issues.

First diagnosed with kidney disease at the age of 26, Paul has had two kidney transplants. The bank named Norman Pozez, current vice chair, as his successor. In the meantime, Executive Vice President and COO Susan Riel, who has been with the bank for more than 20 years, is serving as interim president and CEO.

Active in philanthropy, Paul and his wife Joy opened the Ron & Joy Paul Kidney Center at the George Washington University Hospital four years ago.

IN: COMPASS COFFEE

Local chain Compass Coffee has finally opened in the former Georgetown Theater property at 1351 Wisconsin Ave. NW. Compass Coffee opened in Shaw in 2014 because two marines wanted “real good coffee.” Founders Michael Haft and Harrison Suarez hail from the Washington area and served together in Afghanistan. Haft’s family has run drugstores and bookstores.

After zoning approvals, Compass opened with 112 seats at the Georgetown site, which was once a jewelry center and, before that, a movie house that showed “Caligula” as one of its last feature presentations. Why the compass in the name? As Marines, they used compasses to navigate through unfamiliar terrain. And a compass, like coffee, “helps you get your bearings and … points you in the right direction.”

Ron Paul.

IN: DENT PLACE MARKET

The Deli Corner Store replacement, Dent Place Market, is open after about a month’s delay. With a mission of “redefining the local corner market,” the store will cater to the morning crowd with Bullfrog Bagels and Compass Coffee without forgetting the post-work crew — also selling wine and local craft beer. Located on the west side at 1643 34th St. NW, Dent Place Market intends to “honor the spirit of Georgetown.”

JONATHAN ADLER TO CLOSE APRIL 21

The Jonathan Adler store which opened in Georgetown in 2012 will close at the end of Easter Sunday.

“I’m sure stories like this are a dime a dozen lately, but our store at 1267 Wisconsin Ave. NW is closing,” Alex Sceery, store manager of Jonathan Adler, told The Georgetowner. “Our last day of business will be April 21st. I am selling off everything in the showroom at 30 percent off … want to give everyone a chance to come in and say goodbye to our wonderful store and team.”

The maker and purveyor of ceramics, pillows, accessories and furniture — with a sophisticated design attitude — is located at the corner of Wisconsin Avenue and N Street, across from Martin’s Tavern.

The Adler whimsy and practicality was put on full display throughout the large store, which shows off a Washington bust of sorts and D.C. pillows. Designer and potter Jonathan Adler opened his stores — which will soon number one fewer than 17 — in the late 1990s.

NEW MANAGER AT L&F’S GEORGETOWN OFFICE

Nikolas A. Mercado was named sales manager of Long and Foster Real Estate’s Georgetown office at 1680 Wisconsin Ave. NW. He succeeds Theresa Nielson, who is now managing broker at Long and Foster’s Bethesda Gateway office.

Originally from South Lake Tahoe, California, Mercado came to D.C. after attending James Madison University. He told The Georgetowner: “After developing a successful track in real estate I dove into management with a passion to help agents build successful businesses. I have lived in Adams Morgan, Kalorama, Georgetown and Logan Circle. Georgetown is hands- down my favorite neighborhood. I am an avid skier and have traveled to some of the world’s best winter resorts. When I am not working or in the mountains, you can find me at the gym or emerged in the D.C. food scene. As a self-proclaimed foodie, I enjoy cooking and shopping for fresh ingredients at local farmers markets.”

Nikolas A. Mercado.
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