Toll Brothers Apartment Living Signs Major Retail Lease at Vermeer, a Luxury Mixed-use Multifamily Community Opening in Washington, D.C.
WASHINGTON, July 24, 2024 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living, the rental division of Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, today announced the signing of Gold's Gym as its first retail tenant at Vermeer, a luxury mixed-use multifamily community located at 113 Potomac Ave SW in Washington, D.C. Anticipated to open this winter, the community will feature 501 apartment residences, upscale amenities, expansive rooftop views, and approximately 37,000 square feet of ground-floor retail space.
Founded in 1965, Gold's Gym is an international chain of fitness centers offering state-of-the-art strength and cardio training, exercise classes, and personal training. The location at Vermeer will offer over 3,000 square feet of turf with extensive functional training equipment, nationally certified personal trainers, a wide variety of strength and cardio training equipment including 10 lifting platforms, Therabody recovery products, and luxury locker rooms with infrared saunas. In addition, Gold's Gym will feature exclusive equipment from Gym80, a premier German manufacturer of strength training equipment. The new location is part of Gold's Gym – DC Metro, a locally owned and operated franchise group serving Washington, D.C., Maryland, and Virginia. Slated to open in early 2025, it will be the group's 22nd location overall, and sixth in Washington, D.C. The deal was brokered by Jared Meier and Taylor Hayes of CBRE and Edwin M. Clark, III, of Newmark Group, and the project's joint venture partner, CrossHarbor Capital Partners, was integral to the process.
"We are excited to welcome Gold's Gym as our first retail partner at Vermeer, which will be an anchor for the dynamic street-level experience we envision along Potomac Avenue," said Michael Skena, Managing Director of Toll Brothers Apartment Living in the Mid-Atlantic region. "Toll Brothers Apartment Living is committed to best-in-class retail partnerships that help to create communities at the intersection of home and life. We look forward to working with Gold's Gym – DC Metro to create a fitness destination for all residents of the Buzzard Point and greater Capitol Riverfront neighborhoods."
Vermeer will provide its residents and the surrounding neighborhood with a diverse mix of retailers to strengthen the offerings of this rapidly developing area. Its prime location is at the intersection of two growing neighborhoods that connect residents to restaurants, shopping, entertainment venues, two major league sports stadiums, and the amenities and activities of the riverfront.
"Buzzard Point and the Capitol Riverfront Business Improvement District offer tremendous opportunity for businesses in D.C.," said Matthew Anderson, Director of Development and Construction for Toll Brothers Apartment Living in the Mid-Atlantic region. "With Vermeer's luxury multifamily residences and Gold's Gym's renowned fitness offerings, we expect to make a significant positive impact on the development of this neighborhood."
Construction on Vermeer began in late 2022. The 13-story building will include 11 stories of modern residences and expansive amenities at the penthouse level, all above the ground-floor retail space. The curated amenity offerings will include a refined resident lounge and game room, a penthouse-level fitness center, a rooftop pool and terraces, a private dining room, tech savvy coworking spaces, and two courtyards. The rooftop will provide breathtaking 360-degree views of Washington, D.C., including the Capitol Building, Audi Field (home to D.C. United, the Washington Spirit, and the D.C. Defenders), Nationals Park (home to the Washington Nationals), the Anacostia and Potomac Rivers, and the Frederick Douglass Memorial Bridge.
Vermeer will be Toll Brothers Apartment Living's fourth multifamily community, and second mixed-use apartment community in Washington, D.C., after Union Place in the District's NoMa neighborhood. For more information about Vermeer, visit livevermeer.com.
ABOUT TOLL BROTHERS APARTMENT LIVING
Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (NYSE:TOL), an award-winning Fortune 500 company, and the nation's leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury, and service for which Toll Brothers is known to its exceptional rental and mixed-use communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, and the design and expertise of America's Luxury Home Builder®. In 2024, Toll Brothers Apartment Living was named to the National Multifamily Housing Council's Top 25 Largest Developers list, the fifth year it has been so recognized. The firm has completed over 10,000 units nationally, with more than 18,000 units in production.
For more information visit TollBrothersApartmentLiving.com.
ABOUT TOLL BROTHERS
Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol "TOL." The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.
In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World's Most Admired Companies™ list and the Company's Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron's magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.
From Fortune, ©2024 Fortune Media IP Limited. All rights reserved. Used under license.
Contact: Andrea Meck | Toll Brothers, Director, Public Relations & Social Media | 215-938-8169 | [email protected]
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