Intelligent Real Estate Investments - Hines

Whole Foods Market to Anchor Retail at The Parks at Walter Reed

Leading natural and organic grocer will anchor retail at the Parks at Walter Reed, a development from Hines, Urban Atlantic, and Triden Development Group

(WASHINGTON, D.C.) — Whole Foods Market has signed a 40,000-square-foot lease to anchor the Hartley at the Parks at Walter Reed, a 3.1 million-square-foot master-planned community from Hines, Urban Atlantic, and Triden Development Group. The leading natural and organic grocer is among the latest signature additions to the dynamic transformation of the former Walter Reed medical campus, the largest site under development in Northwest Washington, D.C.

Construction on The Hartley is expected to begin in early 2020 with completion of the project in early 2022.

The Hartley will be the third new construction phase to commence on site, with The Brooks - 89 elegantly appointed condominium residences (www.thebrooksdc.com) and the Vale – 301 apartments and 18,000 square feet of retail, currently underway. Designed with 323 rental units, including 32 affordable units, and 58,000 square feet of retail, The Hartley is the centerpiece of the vibrant Town Center, which will feature 100,000 square feet of dining, shopping, and entertainment around an active plaza fronting Georgia Avenue.

Scott Allshouse, Whole Foods Market’s Mid-Atlantic Regional President, said, “We’re proud to be part of The Parks at Walter Reed, a development that shares many of Whole Foods Market’s values – community, environmental stewardship, quality, and partnership. We look forward to joining this vibrant community and expanding our presence in the D.C. area.”

“We are pleased to welcome Whole Foods Market to this transformative project. Whole Foods Market will be a key addition to the Parks development in one of Washington, D.C.’s best neighborhoods,” said Hines Senior Managing Director Chuck Watters.

Torti Gallas Urban is the architect for The Hartley with interior design by Hickok Cole Lifestyle and landscape design by Oehme van Sweden. Retail broker CBRE+Streetsense is engaged for the Parks retail leasing.

“The Ward 4 community is excited that the Parks at Walter Reed has secured Whole Foods Market as an anchor for the town center. We look forward to the development of this project and the new retail and amenities it brings to neighborhood residents,” said Ward 4 Councilmember Brandon Todd.

“Since the community began planning the Walter Reed project, our focus has always been on how to reimagine this historic space so that it meets the needs of the neighborhood and city,” said Mayor Muriel Bowser. “Already, the campus is home to a firehouse, schools, as well as housing for seniors and formerly homeless veterans. With so much more on the way, the addition of Whole Foods Market is one more way this development is creating jobs and opportunities for our residents and helping us transform the Walter Reed campus into a community that works for DC.”

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About The Parks at Walter Reed

Once complete, 66-acre redevelopment of The Parks at Walter Reed will include over 3.1 millionsquare feet of new construction and adaptive reuse of existing historic structures. This once closed-off Upper Northwest historic military medical campus will be transformed into an innovative and inspiring new destination featuring a broad mix of open green parks, recreation, arts, hospitality, 130,000 square feet of grocery-anchored retail, over 2,100 units of townhomes, condos and apartments (including 432 affordable units), office, ambulatory care by Howard University, and two foreign language immersion charter schools (DCI and LAMB). The Parks is immediately adjacent to both the new Children’s National Research and Innovation Campus and the U.S. State Department’s new Foreign Mission Center, flanked by commuter corridors and public transportation. All less than five miles from downtown D.C., The Parks is a convenient destination with uptown charm. For more information, visit www.theparksdc.com

About Hines

Hines is a privately owned global real estate investment, development and management firm, founded in 1957, with a presence in 219 cities in 23 countries and $124.3 billion of assets under management—including $63.8 billion for which Hines provides fiduciary investment management services and $60.5 billion for which Hines provides third-party property-level services. Hines has 148 developments currently underway around the world, and historically, has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most respected real estate organizations in the world. Visit www.hines.com for more information.

About Urban Atlantic

Since its founding in 1998, Urban Atlantic has established a strong track record of successfully investing and developing in transformational, large-scale, urban communities. Urban Atlantic focuses on creating vibrant, mixed-use, mixed-income, TOD neighborhoods. Headquartered in the Washington metro area for 20 years, the firm’s portfolio includes over $2 billion in completed real estate developments, creating nearly 9,000 residential units and 1 million square feet of commercial space. Urban Atlantic’s third-party investments have leveraged an additional $2 billion in real estate developments and operating businesses in emerging markets. Visit www.urban-atlantic.com for more information.

About Triden Development Group

Triden Development Group was established in 2004 as a local District-based firm and is a master development partner on more than $7 billion of local mixed- use projects. The Triden team has nearly 80 years of combined experience at the forefront of public-private collaborations addressing economic development challenges in the District of Columbia and major urban centers throughout the nation. Triden provides development, equity investment and advisory services related to infrastructure, retail and community benefits, as well as custom, project-specific assignments. Triden is a local equity participant and investment development partner in major projects including three of the largest mixed-use projects in the District of Columbia: CityCenterDC, The Wharf and The Parks at Walter Reed.

The Parks at Walter Reed, Whole Foods Market-Anchored Town Center
Caption The Parks at Walter Reed, Whole Foods Market-Anchored Town Center