ARLINGTON, VA-The class A office facility at 3100 Clarendon, leased to maximum capacity by the federal government, finds a new owner courtesy of a recent deal valued at a rumored $82 million. Wells Real Estate Investment Trust Inc. is buying the 238,000-sf office building from real estate investment company Jamestown.
WASHINGTON, DC-The Georgetown Renaissance portfolio--a collection of buildings offering office, retail, residential and storage space--gets a second owner as Prudential Real Estate Investors' TMW Property Funds takes on a 48% share of the EastBanc Inc.-owned group of properties.
MANASSAS, VA-Billet Graphics gets off the leasing circuit and purchases it own home. The commercial printing company is spending $3 million to acquire and outfit a 13,000-sf condominium warehouse facility on Coppermine Dr.
ELLICOTT CITY, MD-The Howard County Executive's office will turn to a private developer to help construct a new office and courthouse complex. Plans call for a 350,000-sf facility with 900 parking spaces which will cost as much as $100 million.
COLUMBIA, MD-Gateway Crossing 95 continues to grow as developer Manekin LLC breaks ground on the third and fourth buildings of the most recent phase of the multi-structure business park. The two structures will be 82,000 sf and 32,800 sf in size and are scheduled for completion next summer.
LANHAM, MD-Ownership of the 64,000-sf building office building at 4500 Forbes Blvd. changes hands in a recent $8 million deal. Formerly the property of Moore & Associates Inc., the fully-leased class A facility is now part of Advance Realty Group's real estate portfolio.
ARLINGTON, VA-Virginia Square Plaza, a 158,000-sf premiere office building in the thriving Rosslyn/Ballston corridor sells to LaSalle Investment Management in a $64.2 million transaction. Seller Principal Financial Group's disposition of the property comes just one year after the company acquired it for nearly $52 million.
LARGO, MD-In a recent $6 million deal, the First Baptist Church of Glenarden claims possession of a 76-acre parcel, taking it off the hands of the Benke Nurseries Co. The church will combine much of the land with existing property to build a new home.
CLARKSBURG, MD-Work gets under way on the new Clarksburg Area High School as Hess Construction breaks ground on the $48 million project. Upon its scheduled completion in July 2006, the new Montgomery County high school will be able to accommodate 2,000 students.
FAIRFAX, VA-Fairlee-MetroWest gets the thumbs up from the Fairfax County Board of Supervisors, paving the way for the development of the massive mixed-use project. If all goes as planned, Fairlee-MetroWest will ultimately yield 2,300 condos and townhomes, as well as office and retail space.