GREENBELT, MD-Capital Office Park becomes part of Mack-Cali Realty Corp.'s real estate portfolio with the official closing of a $162-million deal. The seven-building complex features an aggregate 842,300 sf of predominantly class A space, 83.9% of which is presently occupied.
WASHINGTON, DC-Development of 1602 L St. NW, designed to appeal to small and medium-size companies, takes a step forward with the start of construction. The $18-million 52,300-sf structure is being built on the site of a former parking facility.
EDGEWOOD, MD-A financing deal closes for the acquisition of Edgewood Park Apartments, a 132-unit multifamily complex in Harford County. Located off I-95, the garden-style apartments were developed in the late 1960s.
WASHINGTON, DC-The 300,000-sf office building at 1110 Vermont Ave. is about to get a facelift, as construction commences on a $40-million renovation of the property. Majority owners of the building paid $82 million for their stake in the 27-year-old building last year.
PRINCE WILLIAM COUNTY, VA-US Foodservice, the Columbia, MD-based national distributor of food products to restaurant facilities, plans to expand its distribution center just outside of Manassas. The firm will add 50,000 sf of warehouse and office space for $7.5 million.
WASHINGTON, DC-The leasing level at Terrell Place, the 476,000-sf office and retail complex near the MCI Center, reaches 89% as four companies sign on for a total of 42,400 sf. Law firm Venable LLP is the lead tenant at the property with 263,000 sf of space.
FAIRFAX, VA-Ground breaks on Phase I of the $90-million Old Town Village Fairfax, a mixed-use development here. The first segment of the project will contain 144,000 sf of class A office and ground-level retail space contained within four buildings.
FAIRFAX, VA-Ground breaks on Phase I of the $90-million Old Town Village Fairfax, a mixed-use development here. The first segment of the project will contain 144,000 sf of class A office and ground-level retail space contained within four buildings.
MCLEAN, VA-Replacing an existing $100-million secured term loan facility, Highland Hospitality Corp. closes on a $150-million unsecured revolving credit facility with a three-year term. Conditions of the facility include an option for a one-year extension, as well as an additional $200 million.
STERLING, VA-First Potomac Realty Trust snaps up Sterling Park Business Center, a two-building flex/office property in the Dulles Corridor, for $30.9 million. In addition to the buildings totaling 127,800 sf, the deal includes 42.5 acres of developable land.