The $434.4 million public-private partnership project spans 406,000 square feet on the historic St. Elizabeths East campus in Ward 8. A full-service facility, Cedar Hill contains 136 beds (with the capacity to expand to 184), trauma care, and a 54-bay emergency department—30 for adults and 24 for children. The hospital also features maternal health and delivery services, including a six-bed well-baby nursery and a Level II NICU; five operating rooms (expandable to seven); an ambulatory pavilion; a 500-car parking garage; and a helipad for emergency transport. Cedar Hill will also offer a full range of outpatient and specialty services such as dialysis, infusion, cardiac rehab, physical therapy, and more.
Papadopoulos Properties recently began marketing the nearly 33,000-square-foot former theater on behalf of the building’s owner, an affiliate of Rockrose. The brokerage has already heard from several interested prospects, per John Gogos, who’s leading the effort at Papadopoulos.
Rockrose acquired the 422,400-square-foot building in 2014 after the building’s former owner, Dweck Properties Ltd., teed up a lease keeping anchor tenant Latham & Watkins LLP in place for another 15 years. There’s about 82,400 square feet of vacant office space in the building, also known as Lincoln Square.
There should be plenty of interest in the subterranean space given its size, 20-foot ceiling heights and location, Gogos said. There’s also the potential to tack on another 3,000 square feet at the corner of 11th and E streets NW.
Global investment company Techstars is teaming up with Kaiser Permanente’s arm for DC, Maryland and Virginia patients to launch a new accelerator for early-stage healthcare startups.
The program, called the Techstars Healthcare Accelerator powered by Permanente Medicine Mid-Atlantic States, will provide founders with mentorship, strategic resources and access to the health provider’s network of nearly 1,800 physicians specializing in more than 60 medical and surgical fields. The accelerator will take place in person in DC.
While the overall vacancy rate in the District was 22.6% at the end of last quarter, trophy office vacancy stood at 12.2%, according to CBRE.
“It’s the space that’s in demand right now,” CBRE mid-Atlantic Research Director Stephanie Jennings told Bisnow. “The industries that prefer that level of space are doing well — it’s law firms, government affairs, it’s top business services, some tech. It’s just a preference for top-quality space. And there’s just not that much of it.”
The year-old company plans to use the proceeds to significantly beef up its 12-person team, adding staff in its offices in D.C. and El Segundo, California, CEO and co-founder Woody Glier said in an interview.
Glier co-founded the company after spending the past 15 years at such startups as Palantir and San Francisco data labeling provider Scale AI.
