WASHINGTON, DC-Two weeks from today, officials will close the door on proposals for private financing of the District's new baseball stadium. The ballpark will ultimately serve as home to the city's new baseball team, the Washington Expos.
DAHLGREN, VA-Six office buildings in Dahlgren Technology Center become part of Corporate Office Properties Trust's portfolio, courtesy of a recent $26.3 million transaction. The structures, which total 204,600 sf, are fully leased to tenants who are mostly contractors for the US Department of Defense.
BETHESDA, MD-First Potomac Realty Trust wraps up the purchase of the multi-structure flex property known as Campus at Metro Park North in Rockville and the industrial building at 4612 Navistar Dr. in Frederick. The total acquisition price is $63 million.
TOWSON, MD-Baltimore County gives the initial go-ahead for Heritage Properties and the Cordish Co. to move forward with Towson Circle III, a proposed mixed-use project near Towson University. The development will feature a dormitory, a large restaurant, retail space and parking accommodations.
CHANTILLY, VA-Washington Real Estate Investment Trust acquires a five-building portfolio at the Dulles Business Park in a deal valued at $46 million. The structures, which were built between 1999 and 2004 and account for nearly 265,000 sf, boast an average total occupancy level of 99%.
SILVER SPRING, MD-The 123,400-sf office building at 8737 Colesville Rd. reaches the 100% occupancy mark with tenant Danya International Inc.'s recent commitment to renew and expand. Formerly housed in a 14,000-sf space, the company will now occupy approximately 34,000 sf.
WASHINGTON, DC-The 802,000-sf office tower at 1001 Pennsylvania Ave. sells in a deal valued at a whopping $461 million. The seller of the 99% leased premiere property is National Office Partners, a six-year-old Texas-based partnership involving Hines and CalPERS.
WASHINGTON, DC-Former Fannie Mae chairman and CEO Franklin D. Raines--who was essentially forced into retirement last week--may be down but he is not necessarily out. An SEC filing reveals that Raines is due to receive an annual pension of $1.3 million for the remainder of his life.
ROCKVILLE, MD-Human Genome Sciences Inc. officially wraps up its agreement to vacate the 318,000-sf, multi-structure facility at 9800 Medical Center Dr. within the 300-acre Shady Grove Life Science Center. The agreement to leave the property is part of the company's consolidation program.
HYATTSVILLE, MD-A $55.5-million financing deal closes for a six-property multifamily portfolio located in three different cities within Prince George's County. GMAC Commercial Mortgage Corp. is providing the fixed-rate interim financing through its Proprietary Lending Group for borrow Sawyer Realty Holdings.