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Recent Sale Means NoMa Has Arrived

The Greyhound bus station on 1st St in NoMa found two deep-pocketed buyers who scored the building for $46.75M. First Potomac Realty and Perseus Realty LLC joined forces to purchase the building and tentatively plan to turn it into office buildings. The neighborhood has seen so many investors scoop up properties that it might not be seen as an up-and-comer anymore. Said one of the people involved in the Greyhound purchase: "We’re really bullish on NoMa for a couple of reasons and No. 1 is that it’s no longer an emerging neighborhood, it’s emerged,” said Ernie Jarvis, senior vice president of First Potomac. [WBJ]