BALTIMORE-Financing to the tune of $6.8 million is put in place for the acquisition and upgrade of the Fairfax Gardens Apartments, a 191-unit garden-style residential complex that is designated as an affordable housing property.
ANNAPOLIS, MD-The 120,000-sf office structure at 888 Bestgate Rd. continues to lease up, as two new tenants sign on for a total of nearly 10,500 sf. The lease agreements bring the tenancy level at the not yet two-year-old property up to 55%.
HYATTSVILLE, MD-University Town Center is working out well for educational institutions, as is evidenced by the University of Maryland University College's and Prince George's Community College's recent expansion of space.
HERNDON, VA-Foreseeing a decrease in the sky-high vacancy numbers, Parsons Brinckerhoff decides to stay in its 86,000 sf at the Spring Park Technology Center and take advantage of currently reasonable leasing rates.
WASHINGTON, DC-Talk about a profit. The Bernstein Cos. and LMH Realty sell 2100 M St., a 300,000-sf office corner office building for $95 million, just three years after purchasing the property class A for $56.6 million.
ARLINGTON, VA-Corus Bank closes on a deal that places $70.8 million in the hands of a joint venture involving Monument Realty and Lehman Brothers to cover construction costs of the Odyssey, a luxury condominium property.
ARLINGTON, VA-The retail segment of the 215,000-sf Hartford Office Building welcomes a new tenant, as home furnishings outlet Vesta Home signs on for a long-term lease of 7,800 sf of ground-level space.
WASHINGTON, DC-NAHB reports that interest in condominium properties was outstanding in 2003, and will be even better in 2004. And the rental apartment market is expected to see positive change, bringing down high vacancy rates.
BALTIMORE-Construction of the Ednor Apartments at Stadium Place begins at the site where the city's Memorial Stadium once stood. Part of a $50-million development of residences and community facilities for the senior set, the building is expected to deliver in December.
WARSAW, VA-Dialysis Corp. of America makes its debut in the state with the opening of a 4,800-sf center in Richmond County. The freestanding structure is the first of four facilities the kidney hemodialysis company has committed to opening in the early part of this year.