WASHINGTON, DC-The National Association of Home Builders has brought in Carmel McGuire to serve as the new director of Affordable Housing for Multifamily. McGuire comes to NAHB from National Association for County Community and Economic Development and replaces Greg Brown.
HUNT VALLEY, MD-The 180,000-sf office structure at 10150 York Rd. finds a new owner in Corporate Office Properties Trust. The Columbia, MD-based REIT spent $16.5 million to acquire the nearly 20-year-old property, which has a current assessed value of $14 million.
PASADENA, MD-A 353,000-sf distribution center in the Brandon Wood Industrial Park brings in $10.3 million in a recent transaction. Sports apparel manufacturer FILA USA disposes is selling the building to Merritt Properties. FILA developed the property for its own use five years ago.
WASHINGTON, DC- Sheppard, Mullin, Richter & Hampton LLP decides to get comfortable at 1300 I St. by converting a sublease into a lease and leasing an additional 21,500. The move leaves the law firm with a total of approximately 43,000 sf.
WASHINGTON, DC-The Mortgage Bankers Association releases an update to its long-term macroeconomic and real estate finance forecast for 2004 through 2006. According to the report, significant economic growth is on the horizon and should continue over the next two years, leaving the housing industry in a good place.
WASHINGTON, DC-Ownership of Square 247, a tiny yet coveted 12,267-sf parcel in the District's East End area, changes hands in a recent $7.4 million transaction. Wright Investments sold the land to PN Hoffman, which plans to erect a condominium development on the site.
MILLERSVILLE, MD-A new leasing team is put in place at Cloverleaf Business Park, a 130,000-sf office/flex/retail property off I-97. Real estate services firm NAI KLNB takes over responsibility from Ryan Commercial for leasing up the remaining 50,000 sf at the park.
QUANTICO, VA-Plans for the development of the National Museum of the Marine Corps moved forward with the Marine Corps Heritage Foundation's recent selection of Centex Construction Co. to handle the contract. The multi-million-dollar facility is expected to open its doors in 2006.
SILVER SPRING, MD-WesTech Business Park holds on to a big tenant as property leasing agents renew a lease with Kaiser Permanetne for a total of 113,000 sf. The healthcare company occupies a handful of different spaces at the park for office purposes.
CHANTILLY, VA-Two buildings in the multi-structure Avion Business Park find new owners in Advance Realty Group. The New Jersey-based real estate company spends nearly $24 million to acquire the class A office properties that account for a total of 143,000 sf.