Saturday, July 15, 2017

LaKritz Adler Development's Sale of the Famous Starbucks Building

An experienced real estate developer, Robb LaKritz leverages his training to serve as the managing partner of LaKritz Adler Development in Washington, D.C. In this role, Robb LaKritz leads a firm that has acquired and sold several prominent buildings, including the Starbucks Building by Dupont Circle.

In April of 2014, Harbor Group International purchased the Starbucks Building by Dupont Circle in one of the largest D.C. retail transactions per square foot in recent history. Located at 1501 Connecticut Ave. NW, the building was sold for $16.2 million by an affiliate of Lakritz Adler Real Estate Investments. 

Brokered by Calkain Cos., the purchase of the 10,000-square-foot property came to $1,672 per square foot, or approximately 886 coffees per square foot. In addition to a 3,700-square-foot Starbucks, the building features additional office and retail space. Calkain Cos. put the building on the market for just less than $17.5 million, and sold it for the extremely low cap rate of about 4.3 percent.

Friday, June 30, 2017

Emory Law Professor Receives Randolph Thrower Achievement Award

Since 2004, Robb LaKritz has served as managing partner of LaKritz Adler Development, LLC, a real estate development firm in Washington, D.C. Robb LaKritz came to this role having earned a juris doctor from Emory University School of Law, which recently announced that Professor A. James Elliott received the Randolph Thrower Lifetime Achievement Award. 

The State Bar of Georgia’s Committee to Promote Inclusion in the Profession has conferred the Randolph Thrower Lifetime Achievement Award to Emory Professor A. James Elliott. Named after Emory Law alumnus Randolph Thrower (class of 1936), the award recognizes an attorney who demonstrates a dedication to increasing diversity and promoting the inclusion of underrepresented groups in the legal field.

Elliott graduated from Emory Law in 1966 and went on to practice law at the Atlanta-based firm of Alston & Bird for 28 years. A former president of the State Bar of Georgia, he also cofounded Georgia's Legal Services Program, which has served nearly one million Georgians with limited resources. He is also a cofounder the state’s Interest on Lawyers Trust Accounts (IOLTA) program. This program has raised more than $100,000,000 to support legal charities and legal services programs. Also recognized for his teaching, Elliott was given the Emory Williams Distinguished Teaching Award in 2012.

Wednesday, April 5, 2017

The 8415 Fenton First Baptist Church Project

The chairman and CEO of LaKritz Holdings, LLC, a family office and private equity investment firm, Robb LaKritz also served as a managing partner with LaKritz Adler Development, LLC. As part of his duties with LaKritz Adler Development, Robb LaKritz oversees the restoration of class A historical buildings throughout the Washington, DC, metro area.

One of LaKritz Adler Development’s recent projects is a joint venture with the First Baptist Church of Silver Spring (FBCSS) to recondition a two-acre property located in Silver Spring, Maryland, for use by the church. The property, which is located on the corner of Fenton Street and Wayne Avenue, is close to local transportation links, like the Purple Line Metro Station, and public amenities, such as a branch of Whole Foods and the local library.

The redevelopment project will involve the construction of 230 residential units, alongside 30,000 square feet of retail space and a public plaza. The FBCSS will take ownership of a 45,000-square-foot space, where it will build a brand-new church.