CityVista's retail sold to private real estate company.

WASHINGTON, DC: Lowe Enterprises announced that it has sold the 116,083 s/f retail portion of its CityVista mixed-use development, located at the comer of 5th & K Streets, NW, to Edens & Avant, a private retail real estate company.

In addition to Lowe, the CityVista ownership group includes Bundy Development Corporation, CIM Group and Neighborhood Development Company. The development is in partnership with Deputy Mayor Office of Planning and Economic Development which will remain as the ground lessor.

CityVista's retail is anchored by a 55,000 s/f Urban Lifestyle Safeway, one of only four throughout the country. Additional retail and restaurant elements include convenience and specialty stores such as Chevy Chase Bank, Results Gym, 5th Street Hardware, and a new restaurant from the creator of Busboys and Poets.

CityVista is a dynamic mixed-use community and one of the largest developments underway in the Washington D.C. area. In addition to its retail component, the $200 million development features two Class A condominium buildings--"The L" and "The K" with a combined 441 units--and 244 apartments set around a one-acre private park called Vista Green.

With the L building now nearly sold out, CityVista has continued to set a brisk sales pace, garnering regional and national attention as a project of exemplary performance despite the national economic downturn. Set on 3.2 acres, just three blocks from the Verizon Center, Gallery Place and the Convention Center, CityVista is a landmark project which has anchored the revitalization of the Mount Vernon Triangle.

Bill Collins, Paul Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy & Pinkard Colliers represented the sellers.