ARLINGTON, VA-The sale of 12 million shares of common stock leaves MeriStar Hospitality Corp. with about $73 million in cash to spend. The hotel REIT plans to use the funds from the transaction to acquire additional hotel properties within the US.
CHANTILLY, VA-Developer Manekin LLC breaks ground on Manekin @ Dulles South, a 140,000-sf flex/industrial compound of three buildings that have already been sold in deals totaling $12 million. With work under way, the structures are scheduled to be ready for occupancy by September.
HERNDON, VA-Herndon Corporate Center gets a new owner as First Potomac Realty Trust snaps up the 130,000-sf flex property for $20.5 million. The single-story structure is leased to near maximum capacity by a range of tenants, including the US government.
HAGERSTOWN, MD-A welcomed expansion is making its way to Hagerstown, as the Tractor Supply Co decides to expand its presence in the city with the development of a 482,000-sf distribution center at the site of its Mid-Atlantic distribution center in the Crossroads Corporate Center.
WASHINGTON, DC-The 672-unit Marbury Plaza multifamily property sells for nearly $27 million in a transaction between Marbury Plaza LLC and a joint venture involving Arbor Commercial and the Collins Group. The deal has been in the works for about two years.
FORT WASHINGTON, MD-A 170-unit multifamily property near the Capital Beltway hits the market and brings in $12 million. Boone Properties is taking the garden-style apartment community off the hands of a partnership involving the Bozzuto Group and Fannie Mae Corp.
WASHINGTON, DC-The National Low Income Housing Coalition turns up the heat on the US Department of Housing and Urban Development to back off on planned readjustment of payment formulas for the Section 8 housing voucher program.
BALTIMORE-A new tenant takes on 50,000 sf at a 400,000-sf industrial building within Carroll Camden Industrial Park. Bay Sales Corp., a distributor of imported school items, is relocating its main product showroom from Philadelphia to the space here.
BETHESDA, MD-The 320,000-sf Clark Building opens its doors to a new tenant, as LexisNexis commits to 49,000 sf of space. The enterprise and library business information entity's lease brings the occupancy level at the class A office building up to 99%.
MCLEAN, VA-Barcelo Crestline Corp. is calling it a day. The hotel company is nearing the end of its three-year, $84-million renovation project, which encompasses about 45 of its leased properties. The hotels include a large number of Courtyard by Marriott and Residence Inn by Marriott chains.
