Retail broker Madison Retail Group recently signed a deal with CVS to occupy 10,000 square feet of space at phase three of The Portals complex, which was developed by Republic Properties. CVS will join current retailers Starbucks, Potbelly's, and a pay-by-the-pound food provider once the pharmacy opens this summer. Jennifer Price from Madison tells Southwest...TLQTC that there remains over 20,000 SF of retail space available in the first three phases of The Portals. Included in that total is 10,000 SF of space that was once slated for the Woolly Mammoth Theatre Company. That theater subsequently decided to locate to Penn Quarter. Price is targeting a sit-down restaurant, a smaller-scale food provider, and eventually a performing arts venue like an Improv for the vacant retail space. Once phase IV and V are built, those office buildings will have an additional 14,000 square feet of ground floor retail. There is a dearth of sit-down restaurants in Southwest, so hopefully Madison can bring one soon to The Portals. Above is a photo of The Portals complex taken from across the Tidal Basin in October 2008 - on the left is the phase III building and the Mandarin Oriental hotel is on the right. Maryland Avenue bisects the site. 
Thursday, April 30, 2009
CVS Coming to The Portals
Retail broker Madison Retail Group recently signed a deal with CVS to occupy 10,000 square feet of space at phase three of The Portals complex, which was developed by Republic Properties. CVS will join current retailers Starbucks, Potbelly's, and a pay-by-the-pound food provider once the pharmacy opens this summer. Jennifer Price from Madison tells Southwest...TLQTC that there remains over 20,000 SF of retail space available in the first three phases of The Portals. Included in that total is 10,000 SF of space that was once slated for the Woolly Mammoth Theatre Company. That theater subsequently decided to locate to Penn Quarter. Price is targeting a sit-down restaurant, a smaller-scale food provider, and eventually a performing arts venue like an Improv for the vacant retail space. Once phase IV and V are built, those office buildings will have an additional 14,000 square feet of ground floor retail. There is a dearth of sit-down restaurants in Southwest, so hopefully Madison can bring one soon to The Portals. Above is a photo of The Portals complex taken from across the Tidal Basin in October 2008 - on the left is the phase III building and the Mandarin Oriental hotel is on the right. Maryland Avenue bisects the site.
Thanks for the update! I work in the Portals I building (next to the Mandarin), so this is good news indeed!
ReplyDeleteI wonder if they will keep their L'Enfant location open, since it is relatively close to the Portals.
DavidSW
we need a california tortilla there...
ReplyDelete