Signal House opened last year in Washington, D.C., as the first new office building at Union Market, a gourmet food hall that has been going since 2012 and has spearheaded the transformation of a former industrial wholesale distribution center into a magnet for commercial and residential development.
The Takeaway: A 10-story creative office building, Signal House introduced a cutting-edge workplace and contemporary amenities to the Union Market district, which has emerged as a new destination for renters and retailers in Washington following the arrival of the Union Market food hall.
Why it Matters: In Signal House, Carr Properties — a privately held real estate investment trust that owns, manages, acquires and develops properties in D.C., Boston and Austin — created a building to complement the emerging commercial hub and capitalize on the expectation of a modern workforce to have access to walkable amenities, new restaurants and shops, and transit. Developed on speculation, the property is currently 66% leased after Carr signed a round of tenants late last year that included the first D.C. office for the TikTok video-sharing app.
Zoom In: Designed by Gensler, the 236,204-square-foot building pays tribute to the area's industrial history with a unique terracotta, metal and glass exterior. Featuring some of the tallest ceilings and widest column spacing in the city, the property includes a DJ booth, karaoke room and demonstration kitchen and bar, as well as a convertible meeting space, a mothering and wellness room and views of the Capitol. The property also has 12,340 square feet of retail to be anchored by Starr Restaurant Group, the team behind such D.C. restaurants as Le Diplomat and St. Anselm, which leased space along Morse Street for a restaurant scheduled to open in early 2023.
What They’re Saying: Signal House marked the first creative office project for Carr Properties. Led by Chief Development Officer Austen Holderness, the team "invested a lot of effort to make sure that Signal House fit right into the urban warehouse aesthetic of Union Market," said CEO Oliver Carr. "It is a really special building that blends tremendous design with abundant outdoor space, and market-leading amenities."
Its location next to the Union Market food hall, named one of the country's top 10 food halls last year by Reader's Digest, is expected to serve as a recruiting tool as the company looks to fill out the building. "There is no question that the neighborhood serves as a draw for creative class and technology tenants," Carr said. "It is such a vibrant, cool neighborhood where people want to live, dine, and shop. With Signal House, now they can also work in the Union Market neighborhood."
CoStar's Impact Awards highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge. A list of judges can be found here and the criteria for selecting winners can be found here.