MCLEAN, VA-Freddie Mac--in the process of recovering form last year's rough ride that resulted in the government-sponsored enterprise's restating of earnings by $4.4 billion--now finds itself in more trouble as the Securities and Exchange Commission threatens to sue the housing mortgage lender for securities violations.
WILLIAMSBURG, VA-Festival Marketplace opens its doors to a new occupant as Kabbie's Bake Shoppe LLC takes on 1,200 sf of space at the 16,000-sf shopping center. The bakery joins a diverse list of tenants that includes GSH Realtors, Kingsmill Jewelers and National Pancake House.
WASHINGTON, DC-In an effort to accommodate growth, White & Case LLP decides to make a move to One Metro Center and leases nearly 118,000 sf at the 416,000-sf trophy property. The law firm committed to the space under a 15-year lease agreement
NORFOLK, VA-Trader Publishing Co. plans to expand its offices here with the addition of a 270,000-sf office building with ground-level retail space. The $51-million project is expected to get under way in January or February of next year.
ROCKVILLE, MD-Interior demolition of a former strip mall gets under way this week to make room for actual construction of the $350 million mixed-use Rockville Town Square project. The old shopping center, which had been anchored by a Magruder's Grocery Store, will be razed tomorrow.
ARLINGTON, VA-The Mills Corp. gets plenty of bang for its buck in a recent $1-billion deal in which the retail and entertainment REIT walks away with 50% interest in nine regional malls across the US. Mills is now co-owner of the properties with General Motors Asset Management.
NEWPORT NEWS, VA-Rock Landing II, a 33,000-sf office property, opens its doors to a new tenant, as Stallings & Associates PLC signs a lease to occupy 1,000 sf at the two-story building. With Stallings' lease, the class A office facility is nearly fully occupied.
WASHINGTON, DC-Republic Square, a gargantuan 587,000-sf office project, prepares to take its place on Capitol Hill as developer Republic Properties Corp. breaks ground on the two-building project. The development will be built in two phases, with the first reaching completion in 2006.
LORTON, VA-The Lockport Business Center finds a new owner in Kossow Management, which acquired the 44,000-sf two-building industrial property from Lockport LP in a recent $2.9 million deal. The 1970s era complex has a current assessed value of nearly $2 million.
BELCAMP, MD-Development of the $50-million Waters Edge Corporate Campus moves forward as workers get started on the second office building that will ultimately grace the planned 400,000-sf mixed-use compound. The new 80,000-sf structure is due to reach completion in January.