WASHINGTON, DC-The commercial real estate loan industry is showing great signs of health, according to the Mortgage Bankers Association. The organization's loan origination survey covering the first quarter of the year shows an increase in mortgage originations over the same period last year.
BETHESDA, MD-The wheels are in motion for First Potomac Realty Trust to acquire a mixed-use 14-property portfolio for $123 million. The real estate package involves seven flex properties, three industrial buildings, three office structures, and one retail site, accounting for a total of 1.4 million sf.
MCLEAN, VA-Ownership of American Center, a two-building, 330,000-sf office complex, changes hands in a $60.5 million deal. Equity Office acquired the property from a Morgan Stanley-advised entity, bringing its presence in the Tysons Corner submarket up to more than one million sf.
FAIRFAX, VA-The occupancy level at Redwood Plaza II rises to 100% with Pulte Homes' expansion of its space by 8,000 sf. The additional room leaves the homebuilder with a total of approximately 44,400 sf of space in the 66,000-sf building.
WASHINGTON, DC-A deal is in the works that would mark the biggest office lease signing of the year. Piper Rudnick LLP is in the midst of ironing out details for the leasing of 200,000-sf class A office building to be developed by Boston Properties.
ROCKVILLE, MD-New to the suburban Washington, DC office market, Florida-based Koger Equity Inc. taps real estate services firm Trammell Crow Co. to handle leasing at its three office properties in Rockville. The sites account for an aggregate 255,000 sf of space.
ELKRIDGE, MD-Developer Manekin LLC's Troy Hill Commerce Center makes room for a new occupant with the completion of a 30,000-sf facility to house Harley Davidson of Maryland. The new motorcycle shop is three times the size of the former locale, also in Elkridge.
GAITHERSBURG, MD-A research property hits the market and brings in $25.6 million. Formerly the home of a Novartis subsidiary, the four-year-old facility, which sits in a biosciences rich area of the city, is currently vacant and features 88,000 sf of office and state-of-the-art lab space.
WASHINGTON, DC-Presidential candidates take note; following healthcare and employment, affordable housing is the third largest issue of concern among voters, a recent survey released by the National Association of Realtors concludes.
VIRGINIA BEACH, VA-A $12 million financing deal is put in place for Ridgewood Club Apartments, a 192-unit multifamily property in the Hampton Roads area. The funding, arranged by GMAC Commercial Mortgage Corp., comes in the form of a fixed-rate permanent acquisition loan.
