EastBanc and Jamestown Secure Lease in Cady's Alley for Leading Casual Wear Brand Steven Alan

WASHINGTON - July 26, 2013 - PRLog -- EastBanc, Inc. and Jamestown announced today that Steven Alan, the trend-setting casual fashion boutique for both men and women, has signed a lease to occupy the retail space in its Georgetown Renaissance property at 3319 M Street, in the heart of Cady’s Alley. The 670-square-foot store will serve as the brand’s first DC location. Steven Alan will move into its new Cady’s Alley address in September. Home furnishings and fashion retailer Muléh formerly occupied the space.

Offering modern versions of classic ready-to-wear standards for both men and women, Steven Alan has become a staple in casual wear. Alan first emerged into the fashion world in 1994, opening a retail store in New York City to showcase emerging designers. He launched his own line in 1999 and quickly garnered a following for the unique brand of casual, self-assured essentials. Steven Alan, represented by broker Elliott Kyle of The McDevitt Company, will be located directly across from Kafe Leopold.

“Steven Alan is one of the more innovative urban retailers we have recently met,” says Philippe Lanier, vice president of EastBanc, Inc. “The store’s interest in becoming a component of Cady's Alley helps solidify our desire to enhance and complement the design focus of the block with innovative retailers developing a brand and culture around their customer. We believe that shoppers will find the Steven Alan experience one that they visit often.”

Situated on the scenic central courtyard, Steven Alan will enrich the extensive collection of distinguished designer brands currently found in Cady’s Alley, rounding out the retail quarter as Washington’s epicenter of modern fashion, design, furnishing and lifestyle goods. The Steven Alan lease agreement is part of a recent swell of Georgetown Renaissance leasing activity that includes stylish retailers such as Intermix, Calypso St. Barth, CB2, City Sports and West Elm. The Steven Alan deal also solidifies the westward movement in Georgetown of sophisticated lifestyle offerings and will complement current Cady’s Alley fashion tenants Bonobos, Babette and Relish.

EastBanc and Jamestown’s Georgetown Renaissance portfolio, which includes Cady’s Alley, is a unique collection of high-end retail properties in one of Washington, DC’s premier retail locations. The portfolio also includes boutique office space and 16 luxury rental apartments. Georgetown Renaissance consists of more than 300,000 square feet across 17 properties in Georgetown and one property in Alexandria, Virginia.

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About EastBanc, Inc.

EastBanc, Inc. specializes in the acquisition, redevelopment and management of commercial real estate assets. The firm’s long-term appreciation strategy emphasizes the creation of enterprise value in targeted markets through targeted deployment of investor capital.  The cornerstone of EastBanc’s enterprise value strategy incorporates its unique ability to influence sizeable portions of urban streetscape with significant capital upgrades and master-planned leasing.  With an emphasis on urban mixed-use investment, EastBanc’s developments include upscale retail, luxury residential, Class A and Class B office and luxury hotel property types. For more information, visit www.eastbanc.com.

About Jamestown

Founded in 1983 with headquarters in Atlanta, Ga. and Cologne, Germany and offices in Washington, D.C., New York City and San Francisco. Jamestown is a leader in acquisitions and value added management. Over 29 years, Jamestown has generated approximately $8 billion in strategic investments. The company is focused across the risk spectrum with core, core-plus and opportunistic funds in two primary markets: 24-hour cities and Sunbelt territories with strong demographic growth. For more information, visit www.jamestownproperties.com.