Regions Mid-Atlantic
Northern Virginia County Gets First LEED Gold Spec Office
Aug. 18, 2008
Construction has wrapped up for the first of two Class A office buildings that will comprise the 230,000-square-foot Atlantic Corporate Park in Sterling, Va., located about 25 miles from Washington, D.C., in Loudoun County.
Two Former Staubach Execs Join CB Richard Ellis
Aug. 13, 2008
CB Richard Ellis Group Inc. has hired two real estate industry veterans, Michael McShea and Peter Larkin, formerly of The Staubach Co. Both focus on the public sector and have joined the company’s government and public sector solutions group, based in Washington, D.C. The Staubach Co. was recently acquired by Jones Lang LaSalle.
New Pavilion Heralds $1.7B Mixed-Use Project in D.C.
Aug. 08, 2008
Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion (pictured) to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building.
USAA Nabs Sears Distribution Center in Pennsylvania
Aug. 07, 2008
The Sears Distribution Center in Covington Industrial Park has been purchased by USAA, according to a Cushman & Wakefield Inc. announcement. The new facility, which is occupied on a long-term lease by Sears Logistics Services, is a 1,026,000-square-foot property located on 74 acres in Covington Township, Penn.
Starwood Capital Forms JV to Acquire, Develop M-F
Aug. 01, 2008
Sarasota, Fla.-based Starwood Land Ventures L.L.C., an affiliate of Starwood Capital Group Global L.L.C., has established a joint venture with Vienna, Va.-headquartered The Penrose Group to acquire, develop and hold multi-family properties in key Mid-Atlantic markets. Penrose brings to the table 20 years of experience as a leading real estate force in the Metropolitan Washington, D.C. While Starwood Land and Penrose have not disclosed further specifics of their planned activities, the Metro D.C. multi-family market is still fertile ground for potentially lucrative investments. The region--encompassing the District, as well as Northern Virginia and neighboring Maryland suburbs--continues to hold its position as one of the top apartment markets in the country, according to a midyear report by commercial real estate research firm Delta Associates.
Smart Car Dangled as Carrot for Potential Buyers at New Philly Condo Property
Aug. 01, 2008
With the souring economic climate and frosty lending market, for-sale multifamily residences are not selling like hotcakes anymore, so in an effort to lure buyers for the remaining condominium units at the seven-month-old Symphony House in Philadelphia's Center City, developer Dranoff Properties has decided to give a Smart Car to every new purchaser.
Lowe Gets $116M Refi for DC-Area Office
July 30, 2008
Los Angeles-based Lowe Enterprises has refinanced Century Center I and II, a 624,600-square-foot office complex in Arlington, Va., for $116.1 million. The Washington, D.C., office of Holliday Fenoglio Fowler, L.P. placed the three-year adjustable rate loan with GE Real Estate.
NPR Acquires Its New HQ Building in D.C.
July 29, 2008
NPR, the Washington-based broadcast and digital media company, has closed on its acquisition of 1111 North Capitol Street, N.E. in the NoMa neighborhood of Washington, D.C.
$54M Financing Deal Closes for Suburban Philly Shopping Center
July 25, 2008
Pennsylvania Real Estate Investment Trust has secured $54 million in financing on Paxton Towne Centre, the company's 703,000-square-foot shopping center in Harrisburg, Pa., less than 15 miles from Philadelphia. The transaction marks PREIT's third financing deal within the last month.
Trio of Projects to Bring 1.7M SF to Suburban DC
July 23, 2008
The souring economy hasn't altogether dampened development activity. In the Washington, D.C., suburb of Arlington, Va., news has emerged about three new office and mixed-use projects that will bring a total of 1.7 million square feet to an area just minutes from the District.
Brandywine Executes 195,000SF DC Lease with Time Warner
July 23, 2008
Brandywine Realty Trust has executed a 10-year lease transaction with Time Warner Cable Inc. for 195,000 square feet in South Lake at Dulles Corner, a 268,240-square-foot office building in Herndon, Va, a suburban office market in Washington, D.C. The lease brings South Lake at Dulles Corner to 73 percent leased.
Capitol Lounge Building Sold in DC
July 22, 2008
The Capitol Lounge building located at 229 Pennsylvania Avenue in Washington, D.C., has been sold by the NorthMarq investment sales team of Jim Karnack, Jerry Burg and Matt Clinebell, the company said today.
Philadelphia
Smart Car Dangled as Carrot for Potential Buyers at New Philly Condo Property
Aug. 01, 2008
With the souring economic climate and frosty lending market, for-sale multifamily residences are not selling like hotcakes anymore, so in an effort to lure buyers for the remaining condominium units at the seven-month-old Symphony House in Philadelphia's Center City, developer Dranoff Properties has decided to give a Smart Car to every new purchaser.
$54M Financing Deal Closes for Suburban Philly Shopping Center
July 25, 2008
Pennsylvania Real Estate Investment Trust has secured $54 million in financing on Paxton Towne Centre, the company's 703,000-square-foot shopping center in Harrisburg, Pa., less than 15 miles from Philadelphia. The transaction marks PREIT's third financing deal within the last month.
Washington DC
Northern Virginia County Gets First LEED Gold Spec Office
Aug. 18, 2008
Construction has wrapped up for the first of two Class A office buildings that will comprise the 230,000-square-foot Atlantic Corporate Park in Sterling, Va., located about 25 miles from Washington, D.C., in Loudoun County.
Two Former Staubach Execs Join CB Richard Ellis
Aug. 13, 2008
CB Richard Ellis Group Inc. has hired two real estate industry veterans, Michael McShea and Peter Larkin, formerly of The Staubach Co. Both focus on the public sector and have joined the company’s government and public sector solutions group, based in Washington, D.C. The Staubach Co. was recently acquired by Jones Lang LaSalle.
New Pavilion Heralds $1.7B Mixed-Use Project in D.C.
Aug. 08, 2008
Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion (pictured) to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building.
Mid-Atlantic Commercial Property Developments
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