WASHINGTON, DC-Investment in the commercial real estate industry is moving in a positive direction, according to the National Association of Realtors. The real estate organization sites impending economic growth, employment increases and decreases in property vacancies as a few of the reasons for the upswing.

WASHINGTON, DC-A National Press Club event was the forum for the release of a new study by Columbia University Graduate School of Business dean R. Glenn Hubbard. The study details the devastating economic effects of the absence of protections stipulated by the Terrorism Risk Insurance Act in the event of a terrorist attack.

COLUMBIA, MD-With the assistance of Holliday Fenoglio Fowler LP, a nearly $2.2 loan closes for the acquisition of a 33,500-sf industrial property on Oak Hall Lane. HFF's arrangement of the financing through Washington Mutual Bank was on behalf of a fund controlled by Velsor Properties.

ROCKVILLE, MD-Not quite a year since work began, Hubert Construction LLC completes a $1.9 million renovation of Twelve Oaks Building C, a 45,000-sf office structure at 1450 Research Blvd. The 24-year-old property is owned by Asset Capital Corp. LLC.

FALLS CHURCH, VA-GMAC Commercial Mortgage Corp. puts a $74 million refinancing package in place for the 365,000-sf office facility at 2941 Fairview Park Dr. General Dynamics keeps its headquarters in the building and is the lead tenant at the class A property.

FALLS CHURCH, VA-Construction begins on the George Mason Middle School, a 131,000-sf project that is being developed through a public/private partnership involving Falls Church and Clark Real Estate Advisors. The $25 million endeavor is on schedule for completion in the fall of 2005.

WASHINGTON, DC-Heery International Inc. wins the bid to take on construction management activity for the modernization of the government-owned office building at 1800 F St. The General Services Administration, which selected Heery, maintains its offices in the 710,000-sf historic structure.

FALLS CHURCH, VA-Mitretek Systems' headquarters building, a 253,000-sf office facility the company leases, finds a new owner as developer and owner Hines sells the property to ING Group's ING Real Estate in a $92.8-million transaction. Mitretek's lease is good until 2017.