ROCKVILLE, MD-A 320,000-sf biotechnology property in the 300-acre Shady Grove Life Science Center hits the market under the direction of real estate services firm Scheer Partners Inc. The current occupant and owner, Human Genome Sciences Inc. plans to move to a new space nearby.
ST. MARY'S, MD-State government steps in to help St. Mary's County to redevelop an 84-acre parcel near the Patuxent River Naval Air Station. Maryland is contributing $8 million to a $13 million project to convert the land into open space and relocate tenants.
ROCKVILLE, MD-A new partnership involving Federal Realty Investment Trust and Clarion Lion Properties Fund prepares to go on a $350-million shopping spree. The joint venture has already started looking at stabilized grocery-anchored assets in its core markets.
WASHINGTON, DC-Tenancy is on the rise at 1800 M St., as the government commits to 55,000 sf at the 535,000-sf class B office tower where space is marketed in the upper $30 per-sf range. The lease agreement leaves the class B property 70% occupied.
BETHESDA, MD-There's a new kid on the hotel property block. DiamondRock Hospitality readies to make its first hotel acquisitions with the proceeds of a recent $210-million private stock offering. Marriott International Inc. owns $30 million shares in the company.
WEST HYATTSVILLE, MD-The Board of the Washington Metropolitan Area Transit Authority taps a joint venture consisting of Centex Homes and Gunston Hall Realty to develop a mixed-use project on 45 acres adjacent to the West Hyattsville Metrorail Station.
BETHESDA, MD-The Grosvenor-Strathmore Metrorail Station parking garage goes from 300 spaces to 1,500 spaces with completion of construction on the six-level facility. Funds for developing the $30-million garage come from Montgomery County.
BALTIMORE-Totaling nearly 145,000 sf, two industrial buildings in the 200-acre Fort Holabird Industrial Park find new owners with the assistance of CB Richard Ellis. The buildings, both 100% occupied, command an aggregate sum of $8.3 million.
CHEVY CHASE, MD-Commercial finance firm CapitalSource Inc. expands its horizons with the acquisition of Washington, DC-based residential real estate lender CIG International for nearly $100 million. Established nearly 20 years ago, CIG has completed over $500 million in transactions over the last decade.
HERNDON, VA-Owners of Worldgate Centre, a 230,000-sf retail and entertainment destination centering on the Worldgate Sport & Health exercise facility, secure recapitalization of the property in the amount of $48 million. LJ Melody & Co. facilitated the deal for the 14-year-old center.
