In July 2009, 700 Sixth Street opened with a ribbon-cutting celebrating not only the completion of a project but a vision brought to life. Washington, D.C.’s Mayor, officials from the city’s economic development and environmental agencies, the project’s Tokyo investor, and its lead tenant were all in attendance.
Retail owners and developers are realizing the valuable opportunity redevelopment could bring to their existing, and many times underperforming, properties. Many developers are reformulating outdated shopping centers and malls with new, out-of-the-box concepts that provide a more attractive and compelling urban experience and sense of place.
A decade ago, The Pizzuti Companies developed a 304,000-square-foot, build-to-suit distribution center for Accel Inc. In the fall of 2010, they again turned to Pizzuti to deliver a larger, more efficient headquarters and operations center to be located in the New Albany Business Park.