The Bank Building, one of Washington D.C.’s most prominent landmark buildings, leased 23,581 square feet of its ground level, second and third floors to The Group, a popular hospitality group based in New York. The space was leased by Meridian Capital Group’s retail leasing team President, James Famularo, Director, Ben Biberaj, and Associate, Elliot Wygoda, all based out of the company’s New York Midtown office. Lincoln Property Company’s D.C. leasing team Co-Directors, Adam Biberaj and Merrill Turnbull, and Senior Vice President, James O’Neil, represented the landlord.
Located at 699 14th Street on the coveted corner of 14th and G Street NW, The Bank Building is situated on the most high-profile street in Washington D.C., just one block away from the White House. The building features 400feet of wraparound frontage, a restored neoclassical exterior and renovated interiors, flanked by the impressive towering glass and limestone façade of the newly constructed, trophy office portion of the property.
The Bank Building project is Lincoln Property Company’s second of four joint venture partnerships with Cara Real Estate. Construction has been completed at the property and is now 40% preleased.
“In an effort to create a dynamic experience for our tenants and their efforts to attract and retain the best talent in this competitive labor market, it was imperative that we delivered not only a first-class office environment but a first-class retail package that included exciting food and beverage. This retail commitment, and the recently signed lease with a Fortune 500 office user for the top floors of the new tower provides an ultimate stamp of approval to The Bank Building’s desirable location and quality,” said Adam Biberaj, Co-Managing Director of Washington, D.C. Leasing at Lincoln Property Company.
The Bank Building’s first three floors will be inhabited by The Group and feature three different restaurant concepts: La Grande Boucherie, Olio e Piu, and Washoku Room. La Grande Boucherie will be built in elegant and ornamental Art Nouveau style, evoking the sense of optimism from the turn of the 20th century. The brasserie’s menu will feature both classic and modern French dishes, with focus on the meat program, raw bar and extravagant large format meats, ideal for sharing and celebrating. Olio e Piu is an authentic trattoria that features classic Italian dishes, including housemade pasta and hand-stretched pizzas. Lastly, Washoku Room will offer either a traditional Japanese kaiseki counter or sushi omakase counter, to be determined in the coming months. Following construction, the restaurants aim to open in fall 2022.
The Group founder Emil Stefkov will co-design the restaurants with Julien Legeard of Legeard Studio, honoring and incorporating elements of the historic building. The two worked together to create the flagship La Grande Boucherie in midtown New York City, which opened in November 2020 and has been recognized by Architectural Digest.
“The Bank Building was love at first sight,” said Stefkov. “It is a perfect fit for our vision to bring La Grande Boucherie to D.C., a city with so much charm. We were thrilled to find this iconic building where we can bring our Art Nouveau concept to life. We are happy to be part of this neighborhood and look forward to welcoming guests later this year.”
ABOUT LINCOLN PROPERTY COMPANY
Lincoln Property Company is a Dallas, Texas based global real estate company with offices in more than 450 cities in the United States and ten cities throughout Europe. As a one of the largest privately-held, full-service real estate firms in the U.S., it provides real estate investment and acquisition, property management, engineering and facilities management, development management, construction management, and brokerage services worldwide. Lincoln Property Company currently has $82 billion in total assets under management, has 433 million square feet under leasing and/or management, and has developed 138 million square feet of commercial space. For more information on Lincoln Property Company, please call 202.513.6700 or contact Erin Goonan egoonan@lpc.com.
ABOUT THE GROUP
The Group is a collection of restaurants that originated in New York City, embodying passion, integrity and excellence. The Group provides an authentic dining experience by celebrating tradition and invoking the modern. Inspired by contemporary tendencies and a passion for timeless traditions, The Group restaurants are unifying the neighborhood character with authentic cuisine and lively local culture. The Group strives to build long-term relationships within the community creating a sense of intimacy amidst the pace of the city.
ABOUT CARA REAL ESTATE
Cara Real Estate, the Real Estate arm of Frankfurt, Germany based investment manager Cara Investment, invests in real estate opportunities throughout Western Europe and the US. Notable transactions include the recent acquisitions of 7-10 Waterloo Place and 20 Soho Square in London as well as the Nike Store in Georgetown and 0 Bond Street in New York.
ABOUT MERIDIAN CAPITAL GROUP
Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors. In 2021, Meridian closed more than $55 billion in financing across more than 280 unique lenders. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California. Learn more at www.meridiancapital.com.
