Donahue Peebles III, Senior Associate of Development, The Peebles Corporation
Hometown: Washington D.C.
Power Lunch Spot? For lunch, I like The Hamilton and Capital Grille are always good staples. But overall, I prefer breakfast meetings at the Hay Adams.
Favorite Vacation Spot? My top two are London and Los Angeles. But, I try not to go any one city too often. This year I’m going to try and make it to Tokyo and Buenos Aires.
If you had to invest $10m in a DC area neighborhood/submarket it would be in? That one’s easy, Mount Vernon Triangle. It’s right in the path of growth and part of a larger movement toward downtown living. It’s an incredibly dynamic neighborhood with great restaurants like RPM and an energizing community.
Reason for optimism about DC real estate in 2018? Consistent, conventional demand generators that do not respond to the typical business cycle, like government contractors, provide downside protection and steady growth. DC is a global city with significant potential for foreign investment; it’s the seat of global power which makes it practically recession proof.
Reason for caution about DC real estate in 2018? Tightening of the credit market and raising rates will have a sizable effect on asset values and deter construction financing; we’re following an era of significant growth so the market may need a moment to catch it’s breath.
Steve Spartin, Managing Director, JLL
Hometown: Washington, DC
Power Lunch Spot? Greek Deli
Favorite Vacation Spot? Thailand & Italy
If you had to invest $10m in a DC area neighborhood/submarket it would be in? Georgetown
Reason for optimism about DC real estate in 2018? Pre-leasing activity in new development Trophy space
Reason for caution about DC real estate in 2018? Vacancy rise in commodity class-A
Emily Gagliardi, Director of Leasing, Federal Realty Investment Trust
Hometown: Emerson, NJ
Power Lunch Spot? Summer House, Pike and Rose
Favorite Vacation Spot? Stone Harbor, NJ and Charleston, SC
If you had to invest $10m in a DC area neighborhood/submarket it would be in? For me personally, I believe in North Bethesda. There is a dense, educated customer and the opportunity for unique living options, innovative office spaces plus gathering space and dynamic retail where historically there hasn’t been a critical mass of all of those elements.
Reason for optimism about DC real estate in 2018? While there was some softness in the last year or so, I think both retailers and developers were forced to be innovative and disciplined, resulting in new concepts, expansion of national and international brands to our market and dynamic, interesting and thoughtful developments and redevelopments.
Reason for caution about DC real estate in 2018? I think some submarkets are a little overbuilt in certain sectors which will put downward pressure on rent. I think owners and retailers will feel pressure to continue to offer experiences and convenience to stay relevant.
Paul Phillips, Associate, Newmark Knight Frank
Hometown: Darnestown, Maryland
Power Lunch Spot? Central Michel Richard
Favorite Vacation Spot? Visiting cousins in Jackson Hole, Wyoming.
If you had to invest $10m in a DC area neighborhood/submarket it would be in?Shaw
Reason for optimism about DC real estate in 2018? Amazon HQ 2, and continued growth of start-ups and tech users.