East Broad developer hires new broker

Douglas Development's property at 120 E. Broad Street.

Douglas Development’s property at 120 E. Broad Street.

If at first you don’t succeed, try another brokerage.

Douglas Development, owner of the Central National Bank building downtown, has tapped The Rappaport Companies to lease up the 30,000 square feet of retail space in and around the tower along a stretch of East Broad Street.

Northern Virginia-based Rappaport is at least the third brokerage firm to land the listings, which include storefronts between First and Third streets.

The properties were last represented by Cushman & Wakefield | Thalhimer before broker Loretta Cataldi left for Colliers International. Before that they were represented by NAI Eagle.

Lindsey Barden, who represents the property for Rappaport, said Douglas Development is seeking established local tenants with good credit that may be looking to expand to a second location.

Barden said the properties, which include the ground floor spaces at the Central National Bank building, are being marketed as restaurant, retail and office space.

Barden might have an easier time than her predecessors if Douglas follows through on its stated plans to develop the Central National Bank building into apartments.

BizSense reported in January that the Washington, D.C., developer was working on plans to develop the 240,000-square-foot vacant building this year.

“I think any construction activity on the upper floors is going to attract more attention,” Barden said. “I think a retailer that could use the existing historical features of the properties would be amazing.”

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