FAIRFAX, VA-Willowwood Plaza will continue to be, "home, sweet home," to Qwest Communications Corp. now that the company is extending its hold on 25,600-sf space at the office property for seven more years. The lease renewal comes with an expansion of Qwest's space by 3,800 sf.
STERLING, VA-A $25 million loan closes for the acquisition of Oak Grove Townhomes, a 145-unit multifamily property consisting of 22 structures. The loan comes courtesy of Corus Bank and allows the borrower to buy the buildings one-by-one as they are completed.
DULLES, VA-Developers of Dulles Woods, a 28-acre business park near Washington Dulles International Airport, bring in Transwestern Commercial Services to handle leasing at the property, which will contain nearly 250,000 sf of industrial and industrial condominium space spread out among three structures.
WASHINGTON, DC-In an effort to extend the "make available" provision of the Terrorism Risk Insurance Act before its September 1 expiration, the Mortgage Bankers Association takes its renewal campaign, with a recent survey in hand, straight to the Department of the Treasury.
BALTIMORE-Construction of the Zenith, a proposed 191-unit luxury apartment building, is about to move forward with the Board of Estimates' approval this week of the addition of a new partner to the project's original development team, LH Zenith LLC. The new partner, Multi-Employer Property Trust, is coughing up $35 million of the $37 million endeavor.
COLUMBIA, MD-A book store leaves the world of warehouse leasing behind with the $2 million purchase of its own distribution center. SuperBookDeals will relocate its headquarters to the new locale, just a few doors away from its current 8,400-sf home.
WASHINGTON, DC-Kicking off the establishment of its new Property Services Business Unit, Coldwell Banker Commercial Capitol Realty Services secures its first assignment in the District. The firm will serve as the managing agent for a 65,000-sf office building in Georgetown.
LANDOVER, MD-Demolition of the last building at the site of the former Glenmore Apartments marks the start of what will be a redeveloped affordable housing property of the same name. A $67 million, 409-unit residential compound will ultimately stand in place of the downtrodden 540-unit community.
WESTMINSTER, MD-A name change and an ongoing makeover at Westminster Crossing, a 225,000-sf retail property, help attract new tenants. An Old Navy clothing shop and a Michaels store commit to a total of nearly 40,000 sf of space at the property.
STAFFORD, VA-Aquia Commerce Center I & II, a dual-building property consisting of 64,000 sf of flex space, finds a new owner in First Potomac Realty Trust. The REIT takes the two structures off the hands of Aquia Commerce Center LC for $11 million.
