FOR IMMEDIATE RELEASE
Indigo Restaurant Expands to Union Market with Acquisition of 509 Morse Street NE
Press Contacts: Ian Ruel, Managing Principal, (202) 318-6844 | Josh Feldman, Managing Principal, (202) 318-6833
Washington, D.C., August 13th, 2024– Feldman Ruel, the leader in the marketing and sale of commercial investment properties in the Washington, D.C. metropolitan area, is pleased to announce the sale of 509 Morse Street NE. The property, located in the heart of the Union Market district, has been acquired by the owner of the popular Indian restaurant, Indigo, who plans to open a new location following extensive renovations.
The property, which had been home to an owner-operated wholesale meat business serving local restaurants for the past 25 years, sold for $1,415,000, achieving 101% of the list price. After a successful quarter century in the Union Market district, ownership elected to cease operations to begin their retirement and retained Feldman Ruel to exclusively list the property for sale. This major life decision by ownership provided an opportunity for Indigo to expand its presence within the District.
The buyer, known for their successful Indian restaurant, Indigo, plans to renovate the building to create a fresh and inviting space for their new restaurant. This new offering will further enhance the diverse culinary offerings in the Union Market district, further cementing its status as a premier destination for food lovers in Washington, D.C.
Nidhi & Dinesh Tandon, owners of Indigo, expressed their excitement about the new location; “We are thrilled to showcase the most authentic Indian flavors that are sure to tantalize your taste buds. As we witness the exciting evolution of Union Market, it has long been our aspiration to introduce our culinary offerings to this dynamic and thriving food district.”
Ian Ruel, Josh Feldman, Adam Costanzo, and Roman Degliantoni of Feldman Ruel were responsible for the marketing and sale of the property. Their targeted approach focused on owner-users with experience renovating commercial properties, ultimately securing the ideal buyer for this asset. Feldman Ruel’s strategic efforts created a competitive bidding environment, resulting in multiple offers and ultimately exceeding the list price.
“We are delighted to have played a key role in the sale of 509 Morse Street NE," said Ian Ruel, Managing Principal of Feldman Ruel. "The Union Market neighborhood continues to attract creative and passionate business owners, and the addition of Indigo will undoubtedly contribute to the area’s dynamic and evolving landscape. We look forward to seeing how the new space will reflect the unique and authentic flavors for which Indigo has become known."
This exciting next step in the Tandon family’s pursuit of bringing generations of experience creating flavorful, pleasantly spicy, home-cooked Indian cuisine to an ever-expanding customer base is anticipated to open following the completion of renovations, promising to bring another high-quality dining experience to the Union Market community.
About Feldman Ruel
Feldman Ruel is a commercial real estate services firm focused primarily on investment sales and property management in the Washington, D.C. metropolitan area and is consistently recognized as a market leader in the industry. Feldman Ruel successfully completes scores of transactions every year making it one of the top investment sales brokerage firms in the area. The experience and relationships resulting from hundreds of successful transactions allow the principals and agents of Feldman Ruel to provide their clients with the most accurate valuations, most effective multichannel marketing, and best advisory services available in its practice areas.