Many of the surface parking lots around Near Southeast were carved out as temporary offerings, giving developers a chance to make some money while waiting for large-scale projects to get underway. Many of these first appeared in 2008, when Nationals Park opened, but with the recession, few projects got underway in the next few years that affected the available inventory much if at all.

The property records on this week's sale show the buyer as "1244 South Capitol Residential, LLC," which may be a hint at what JBG has in mind for the site. Bisnow, in quoting JBG's Matt Kelly, says "the firm is 'a probably a year or two from starting anything' at the newly purchased site, and that it could be developed for any number of uses." Bisnow also says JBG paid $17 million for the site.

The main parcel was once home to a BP/Amoco gas station, and five other parcels were undeveloped as well (except for the cutest little yellow building on South Capitol that disappeared about seven years ago).

Monument and its investment partners (including Lehman Brothers) paid about $10 million for the six lots in multiple transactions in 2005 and 2006, and in 2008 began some initial bureaucratic moves on plans for a residential building that went nowhere. In late 2010, they went to the Zoning Commission with a request to review new plans for a 12-story office building, but that review didn't move forward until mid-2013, and is in fact scheduled to have its final vote in early January. In the meantime, about a year ago Lehman Brothers took full ownership of the site (since it had been the lender on the original loan).

JBG has just one other property in Near Southeast, but it's a big one: the 1.1 million-square-foot US Department of Transportation headquarters at New Jersey and M, which began construction in 2004 and opened in 2007.

Thanks to many purchases in the Great Ballpark District Land Rush of 2004-06, Monument at one time controlled quite a few properties in the blocks just north of the ballpark. And while the company still owns the old Domino's site on the southeast corner of South Capitol and M, as well as the infamous Half Street hole in the ground, the other properties have since fallen off their inventory, including the recently sold 55 M office building. The company's 50 M site, on the northwest corner of Half and M, was also returned to Lehman Brothers a year ago, and then sold this past May for $13 million to a team mulling a hotel. And at one point Monument had owned the land along N where the southern end of the Fairgrounds now stands, but sold it to Akridge in 2008 during all the fallout of the sale of the Southeastern Bus Garage.

* The old trolley barn known as the Blue Castle at 770 M Street has been put on the market by owners Madison Marquette, who bought it for $25 million in 2007 from Preferred Real Estate Investments, who bought it for $20 million in 2005. (WBJ)

* Forest City held a little shindig at the Yards today to celebrate the official "topping out" of the Twelve12 apartment/Teeter project and also to officially receive the 2013 Urban Open Space Award from the Urban Land Institute for the Yards Park.

The party also celebrated the "groundbreaking" of the Yards's next project, the 325-unit residential building just east of the Foundry Lofts on Parcel N, but until the heavy equipment shows up and starts digging up the existing parking lot on the site, let's just note that the actual work should be getting underway sometime soon. But in the meantime, you can gaze upon the latest rendering of the project (this is looking toward the northwest, up 4th from Water Street).

UPDATE: I also should have mentioned that Forest City is now expecting an official mid-January move of its offices to the 2nd floor of the Lumber Shed (hence the visible work underway up there).