NEWS & NOTABLES
NORTHERN VIRGINIA–JLL reports that there is 2.5 million square feet of data centers expected to deliver in 2017 alone, keeping Northern Virginia a leader in the data center sector. Loudoun County is home to the majority of data centers in the market and continues to lead in growth, accounting for nearly all of the new shell deliveries since 2012.
DEAL TRACKER
BALTIMORE, MD–Frederick Douglas Apartments at 1645 N Calhoun St, has traded for $6.2 million or $60,680 per unit. Capital T Partners was the seller of the 99-unit garden-style complex. Marcus & Millichap brokered the affordable housing deal.
The Frederick Douglass Apartments is historically certified by the Commission for Historical and Architectural Reservation and was the second oldest high school for African Americans in the nation. Some notable alumni include Supreme Court Justice Thurgood Marshall and jazz legend Cab Calloway. The property was converted into apartments in the 1980s, after the school's relocation and was acquired by the seller, according to Marcus & Millichap.
WASHINGTON, DC–Terreno Realty Corp. acquired a 22,000-square foot industrial property at 2920 V Street NE, for $3.7 million. The building, which is sited on 0.7 acres, is next to Terreno Realty's V Street Gateway Business Park. It has an estimated stabilized cap rate of 5%.
COLUMBIA, MD–Corporate Office Properties Trust has signed two long-term leases with a subsidiary of a Fortune 500 company to build two, 148,600-square foot buildings on land the REIT acquired in Ashburn, Va., at Paragon Park. COPT expects to deliver one building in the fourth quarter of 2017, and the second building in the first quarter of 2018. Including this transaction, COPT has completed 355,000 square feet of development leasing, or approximately half of its 2017 goal of 700,000 square feet.
BELTSVILLE, MD–Avison Young has arranged the sale of one of the buildings in Calverton Office Park and has two others under contract. The park consists of three office buildings and a daycare center. Avison Young's Chip Ryan, Jim Kornick and Niel Beggy are handling the sales.
ACS Edmonston Investment LLC purchased the office park in March and then tapped Avison Young to market the office park again. The seller was Brandywine Realty Trust.
The four buildings total 313,810 square feet on 22.7 acres.
Calverton III at 11720 Beltsville Dr., has sold for an undisclosed price. Shaw Real Estate was the purchaser of the 128,903-square foot property.
KinderCare Learning Center is leasing a 6,783-square foot building, which sits on 3.1 acres and shares parking with Calverton III.
Calverton I at 11700 Beltsville Dr., a 96,843-square foot building and Calverton IV at 11740 Beltsville Dr, are under contract.
The 81,281-square foot Calverton II at 11710 Beltsville Dr., is still available.
NEWS & NOTABLES
NORTHERN VIRGINIA–JLL reports that there is 2.5 million square feet of data centers expected to deliver in 2017 alone, keeping Northern
DEAL TRACKER
BALTIMORE, MD–Frederick Douglas Apartments at 1645 N Calhoun St, has traded for $6.2 million or $60,680 per unit. Capital T Partners was the seller of the 99-unit garden-style complex. Marcus & Millichap brokered the affordable housing deal.
The Frederick Douglass Apartments is historically certified by the Commission for Historical and Architectural Reservation and was the second oldest high school for African Americans in the nation. Some notable alumni include Supreme Court Justice Thurgood Marshall and jazz legend Cab Calloway. The property was converted into apartments in the 1980s, after the school's relocation and was acquired by the seller, according to Marcus & Millichap.
WASHINGTON, DC–Terreno Realty Corp. acquired a 22,000-square foot industrial property at 2920 V Street NE, for $3.7 million. The building, which is sited on 0.7 acres, is next to Terreno Realty's V Street Gateway Business Park. It has an estimated stabilized cap rate of 5%.
COLUMBIA, MD–Corporate Office Properties Trust has signed two long-term leases with a subsidiary of a Fortune 500 company to build two, 148,600-square foot buildings on land the REIT acquired in Ashburn, Va., at Paragon Park. COPT expects to deliver one building in the fourth quarter of 2017, and the second building in the first quarter of 2018. Including this transaction, COPT has completed 355,000 square feet of development leasing, or approximately half of its 2017 goal of 700,000 square feet.
BELTSVILLE, MD–Avison Young has arranged the sale of one of the buildings in Calverton Office Park and has two others under contract. The park consists of three office buildings and a daycare center. Avison Young's Chip Ryan, Jim Kornick and Niel Beggy are handling the sales.
ACS Edmonston Investment LLC purchased the office park in March and then tapped Avison Young to market the office park again. The seller was Brandywine Realty Trust.
The four buildings total 313,810 square feet on 22.7 acres.
Calverton III at 11720 Beltsville Dr., has sold for an undisclosed price. Shaw Real Estate was the purchaser of the 128,903-square foot property.
KinderCare Learning Center is leasing a 6,783-square foot building, which sits on 3.1 acres and shares parking with Calverton III.
Calverton I at 11700 Beltsville Dr., a 96,843-square foot building and Calverton IV at 11740 Beltsville Dr, are under contract.
The 81,281-square foot Calverton II at 11710 Beltsville Dr., is still available.
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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.
