WASHINGTON, DC-Parsippany, NJ-headquartered Coldwell Banker Commercial Capitol Realty Services sets its sights on being number one in the Metropolitan Washington, DC market with the establishment of a new affiliate business in the District.
SILVER SPRING, MD-Ashford at Woodlake, a 534-unit multifamily complex, gets a new owner as Federal Capital Partners and Angelo, Gordon & Co. join forces to buy the property in a $45 million deal. The two companies are planning major renovations and additions to the property.
TYSONS CORNER, VA-A 162,000-sf office building lands in the portfolio of a new owner, courtesy of a Starwood Capital Group Global Opportunity Fund VI funds affiliate's acquisition of the class A property.
LISBON, MD-Lisbon Center prepares to welcome Food Lion, which has signed on to occupy a new 34,000-sf space at the a six-building retail property. Shopping center owner MIE Properties will begin building the new space this month.
BALTIMORE-MIE Properties reveals plans to develop over $46 million in projects in 2004. The Baltimore-based real estate company will build 20 new office, flex/office and retail properties in Maryland and Virginia this year.
ANNAPOLIS, MD-Greenberg Commercial Corp. agrees to spend $25 million to acquire Parole Plaza Shopping Center with the intention of reinventing the property as a gargantuan mixed-use development.
NEWPORT NEWS, VA-A deal valued at approximately $11 million leaves Sterling American Property Inc. in possession of the 100,000-sf office structure known as Patrick Henry Corporate Center.
ISLE OF WIGHT COUNTY, VA-Cost Plus Inc. announces it will spend $24 million to double the size of its existing 500,000-sf distribution center, but not before purchasing the existing facility for $26.5 million. The company opened the facility with a $20-million investment in 2001.
MOUNT RAINIER, MD-The Gateway Arts and Entertainment District continues to take shape with the start of development on the area's second live/work apartment property. The new 44-unit apartment building, which will also feature 5,000 sf of commercial space, will cost $14.5 million to develop.
MERRIFIELD, VA-With construction financing in hand, development of Patriot Village at Dunn Loring gets under way. KeyBank Real Estate Capital provided a $48-million loan under a three-year term to developer DSF Investors LLC for the 436-unit residential project.