Solace brewing at the maren,
Dochter & Alexander
The 2020 Retail Transaction of the Year...
The lease executed by the Solace Brewing team and MRP Realty at The Maren was a demonstration of persistence, creativity and cooperation from all parties to find a solution in the face of uncertainty imposed on restaurants and landlords by COVID-19. The deal was at final lease in March 2020, when Mayor Bowser declared a state of emergency, mandating food and beverage operators close for on-site consumption. Although the operating team behind Solace Brewing had to close a number of other bars and restaurants within their portfolio, both Tenant and Landlord remained dedicated to the partnership at Capitol Riverfront. After weeks of renegotiating, the parties designed a unique deal structure that will allow the restaurant enough flexibility to ramp up operations by utilizing a mix of abatement, percentage rent, and extended term length. Both Landlord and Tenant believe the site is uniquely positioned to perform well in a post-COVID world, due to the large outdoor patio space that will enable the operator to seat and serve guests outdoors as uncertainty over indoor dining lingers. David Dochter, Matthew Alexander, and Laura Bellantoni with Dochter & Alexander represented MRP Realty.