German discount grocery chain Aldi is slated to open its next D.C. store early next year in the base of the Avec, Rappaport’s multifamily building on H Street NE, an unlikely turn of events for the development team that had previously lined up another grocer to anchor the project.
McLean-based Rappaport and its D.C.-based residential development partner, WC Smith, were among scores of commercial real estate landlords left in limbo when Amazon.com Inc. (NASDAQ: AMZN) announced in early 2023 it had hit the pause button on its nationwide grocery growth plans. Instead of waiting for the e-commerce and cloud computing giant to restart its plan for 901 H St. NE, or pull the plug, Rappaport began scouting out replacement tenants.
