CHEVY CHASE, MD-Developer the JBG Cos. decides to market the majority portion of its stake in 33 office properties in the Washington, DC, Suburban Maryland and Northern Virginia areas. The portfolio consists of 7.1 million sf of existing and soon-to-deliver class A office space, and has a recapitalization value of approximately $1 to $3 billion.
WASHINGTON, DC-The American Pharmacists Association moves ahead with plans for the development of a new 208,000-sf headquarters building to be erected next to its existing structure at 2215 Constitution Ave. NW. The facility, which will cost $78 million to build, is expected be completed in 2007.
WASHINGTON, DC-The American Pharmacists Association moves ahead with plans for the development of a new 208,000-sf headquarters building to be erected next to its existing structure at 2215 Constitution Ave. NW. The facility, which will cost $78 million to build, is expected be completed in 2007.
CATONSVILLE, MD-An 80,000-sf medical office facility finds a new home in the portfolio of local investor Lord Baltimore Properties, who is taking the property off the hands of seller Dalmore LLC. The property has a current assessed value of about $2.2 million.
GREENBELT, MD-Work gets under way on the development of a 20,600-sf post office facility at Hanover Pkwy. and Ora Glen Dr. The state-of-the-art postal center, which will cost an estimated $6.9 million to complete, will open its doors to patrons sometime in mid-2006.
WASHINGTON, DC-Across the country, the multifamily market is looking up, according to the National Association of Home Builders' Multifamily Market Index for the last quarter of 2004. An increase in job availability is spurring the demand for apartments, while consistently low interest rates are keeping the condominium market active.
WASHINGTON, DC-A cooperative push between the government and industry is the only way it will work, according to industry leaders and policymakers. But all partipcants in yesterday's forum agreed on the importance of the renewal of the Terrorism Risk Insurance Act of 2002.
RESTON, VA-Ownership of Reston Business Campus, an 83,000-sf flex/office property on Pinecrest Rd. changes hands in for $11.7 million. First Potomac Realty Trust is the new owner of the four-structure property, which is currently close to 92% occupied.
LANDOVER, MD-The acquisition of a 245-acre parcel at Rte. 45 and Rte. 202 paves the way for the development of a mixed-use property to be known as Woodmore Towne Centre. A partnership involving Petrie Ventures Inc., Greenberg Commercial and Hovnanian Land Investment Group is behind the project.
FREDERICK, MD-The City of Frederick assigns Hess Construction Co. the task of building a new $16.3 million, 27,000-sf municipal office facility and parking structure here. The parking deck, which will accommodate 650 vehicles, is designed to take a load off of the city's increasingly overburdened parking infrastructure.
