Business Briefs: Eton Court, DSW, the North Face, New Paper
By July 1, 2019 0 935•
M Street Storefronts at Eton Court Up for Auction
Alex Cooper auction house is presenting a sale of storefront units of Eton Court at 3277 and 3281 M St. NW. The street-level spaces, which the auction house identified as ‘Units No. C-9 and C-10 in the Condominium known as ‘Eton, a Condominium,’” will go to the gavel on July 11. At the corner of M and Potomac, the spaces contain a Subway sandwich spot, District Pizza restaurant, Acaiberry yogurt shop and a barber shop.
According to the auctioneer, “bidders must bring a $500,000 deposit to the auction, and must be able to close on the condominiums within 30 days,” the Washington Business Journal reported. “A previous auction, scheduled in March, was canceled. The auction terms state that existing tenants retain their rights under their leases even if the properties are sold.
“The owner, GE RE Corp., based in Germantown, purchased the retail spaces in 2016 for $3.5 million. There is still $2.8 million owed on the note for the properties, which is held by Revere Bank, according to D.C. property records. The current assessed value of the two properties together is $3.4 million, according to D.C. tax records.”
Out: DSW, North Face
As previously reported, DSW — Designer Shoe Warehouse — at 3270 M St. NW in the Georgetown Park retail complex closed on June 22. The retail chain, founded in 1969, has about 500 locations and is a multibillion-dollar company.
North Face, the purveyor of clothing, footwear and outdoor equipment, has closed its large store at 3333 M St. NW. The company was founded in 1968 in California.
In: Northwest Courier
With the demise of the Current Newspapers in May, upper Northwest Washington lost one of its local newspapers. While smaller news sites and other local newspapers remain, former employees of the Current — publisher Brendan Martin and editor Kaleel Weatherly — introduced the Northwest Courier on June 26 with sections and a look that are similar to the Current. Earlier, they operated a Courier website.