FCP Sells Allister North Hills for $93.5M
CHEVY CHASE, MD—Federal Capital Partners has sold Allister North Hills, a 434-unit luxury apartment community in Midtown Raleigh, NC, for $93.5 million. FCP developed the project with co-owner Kane Realty Corp. in 2013. It was FCP's first ground-up development in the Triangle.
Matan Signs 1st Lease at Wedgewood West Business Park
FREDERICK, MD—Matan Cos. has signed its first lease at Wedgewood West Business Park, a six-building, 675,000 square foot industrial project that just began development. Precision Doors & Hardware, a division of The Cook & Boardman Group, is taking 26,805 square feet there in a long-term lease.
Phase I of the project consists of two buildings, which total 180,000 square feet, that are projected to deliver in mid-summer of 2016. Phase II, the remaining four buildings, will begin delivery in early 2017.
Condo Sales at The Lauren Residences at 30% Mark
BETHESDA, MD—Condo sales at The Lauren Residences are over the 30% mark, according to 1788 Holdings, LLC and Persimmon Capital Partners, co-developers of the seven-story condominium building. The Lauren Residences will be ready for occupancy in spring 2016.
BOMA Releases Version 2.0 of Energy Efficiency Program
WASHINGTON, DC—The Building Owners and Managers Association International has released Version 2.0 of the BOMA Energy Efficiency Program. It is a six-course curriculum on reducing energy use in commercial properties.
The courses are Introduction to Energy Performance; How To Benchmark Energy Performance Using ENERGY STAR Portfolio Manager; Audits to Action Plans – Concepts and Economic Benefits; Low-Cost Opportunities to Improve Energy Performance and Reduce Costs; Building the Business Case – Valuing Energy Enhancement Projects and Financial Returns; and Engagement and Awareness – Promoting and Leveraging Sustainability Performance.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
