ALEXANDRIA, VA-A new tenant arrives at the Pickett Industrial Park. Engineering and energy services firm Michael Baker Jr. Inc. will occupy 37,000 sf under a five-year lease. The deal marks an expansion for the company, brought on by a new contract with FEMA.
WASHINGTON, DC-The deal is done for the transfer of ownership of 1330 Connecticut Ave., a 260,000-sf class A office property. The planned arrangement between seller/lead tenant Steptoe & Johnson and new owner Boston Properties was announced earlier this year.
POTOMAC, MD-Arrangements for $8 million in financing for the 60,000-sf Potomac Woods Shopping Center is finalized. Transwestern Commercial Services' Structured Finance Group facilitated the funding on behalf of property owner Seven Locks Plaza LLC.
ROCKVILLE, MD-A deal between Suburban Capital Markets Inc. and borrower JohnC Funding LLC for a $12 million loan to refinance the Rockville Center closes. The 150,000-sf office property got its start as a shopping center in 1972 before being converted to an office property in 1986.
WASHINGTON, DC-The 220,000-sf office structure at 1130 Connecticut Ave. gets snapped up by a joint venture in a deal valued at more than $66 million, or about $302 per sf. The prime, 12-story property sits just across the street from the celebrated Mayflower Hotel.
BELCAMP, MD-The Chesapeake Spice Co. LLC opts to relocate its Baltimore headquarters to a new facility in the Riverside Business Park. The renowned spice manufacturer will spend $6 million to develop the new state-of-the-art facility.
HUNT VALLEY, MD-United Industrial Corp.'s AAI Corp. makes plant to sell off 26 acres of undeveloped land near its locale in Hunt Valley. The land, to go to an undisclosed buyer, is selling for a total of $8 million.
WASHINGTON, DC-Now that a $490-million financing package is in place, development of the new 1.4-million-sf US Department of Transportation headquarters complex will move forward just as planned. LJ Melody & Co. facilitated the deal for project developer JBG Cos.
BALTIMORE-Ownership of the Walther Shopping Center changes hands in a recent transaction valued at nearly $7 million. The 54,000-sf retail destination is a grocery-anchored property that is currently eased to maximum capacity. The deal includes a 10,000-sf developable pad site.
WASHINGTON, DC-The National Housing Conference releases a report detailing requirements for providing sufficient affordable housing in the US. Culled from roundtable sessions held last year, the new document lists the need for increased federal funding as one of the keys to facilitating affordable housing.
