LOUDOUN COUNTY, VA-A 450-acre future home of a gargantuan mixed-use development is put forth as just the right spot for a new $360-million baseball stadium to accommodate the team now known as the Montreal Expos. Project developer Diamond Lake Associates and local baseball organizations present the package to Loudoun County officials, who eagerly await a decision from Major League Baseball about which one of several competing locations will become the host of the team.
MERRIFIELD, VA-Cassidy & Pinkard walks away with the exclusive leasing assignment for Dominion One and Two at Jefferson Park. The firm will be responsible for leasing up a total of 420,000 sf of space between the recently developed Dominion One, and the soon-to-be developed Dominion Two.
VIRGINIA BEACH, VA-Oceana Place becomes part of a new real estate portfolio as HRPT Properties Trust takes over the office property as its own in exchange for $7 million. The seller of the 76,000-sf structure is an affiliate of BetaWest Ltd.
WASHINGTON, DC-Developers of the three-million-sf mixed-use called the Portals secure $90 million in construction financing, courtesy of Corus Bank, for the project's third office building. Like the two office structures before it, the 500,000-sf class A tower will also feature retail and parking space.
ARLINGTON, VA-A new mixed-use residential project gets the nod from the Arlington County Board. The news paves the way for the development of Garfield Park at Clarendon Village, a 149-unit residential development with retail and office space.
WASHINGTON, DC-Turning the heads of many housing industry honchos in attendance, Housing and Urban Development Secretary Alphonso Jackson declares during a recent speech at the National Press Club that affordable rental housing is plentiful. The National Low Income Housing Coalition takes exception to that statement.
WASHINGTON, DC-The US Department of the Treasury extends the "make available" provision of the Terrorism Risk Insurance Act beyond its scheduled Sept. 1, 2004 expiration date through Dec. 31, 2005.
BETHESDA, MD-Financing to the tune of $4.5 million is arranged for Virginia Square Plaza, a 41,000-sf medical office building located off I-66. NorthMarq facilitated the low-leverage mortgage loan through Principal Financial on behalf of the borrower, property owner Virginia Medical Square LP.
WASHINGTON, DC-The JBG Cos. closes on the acquisition of the Four Points Hotel by Sheraton, Washington, DC for a reported $40 million. Located Downtown near the Washington Convention Center, the 265-room hotel is in tip-top shape, having just undergone a renovation about four years ago.
WASHINGTON, DC-According to Commercial Real Estate Quarterly, a report by the National Association of Realtors, demand for commercial real estate space is going to pick up this year, as well as in 2005. The turnaround in the economy and in employment levels appear to be responsible.
