LITHICUM, MD-Highland Hospitality Corp. steps in to buy the 158-room Hilton Garden Inn BWI, and selects Crestline Hotels & Resorts Inc. to manage the nearly three-year-old property. Highland paid $21.9 million for the hotel.
LANHAM, MD-Seven-structure industrial and office property Southgate at Washington Business Park becomes part of First Industrial Realty Trust Inc.'s portfolio via a $25 million transaction.
WASHINGTON, DC-An out-of-the-ordinary twist will put a $17 million multifamily development on top of a professional medical building. Clark Residential expects to wrap up construction on the project in early 2005.
ARLINGTON, VA-MeriStar Hospitality Corp. sells off four of its non-core hotel properties--totaling over 800 rooms in Connecticut, Georgia, New Jersey, and Pennsylvania--and walks away with $34 million in its pocket.
CHESAPEAKE, VA-The 53,000-sf Armada Hoffler Corporate Center finds steps up its occupancy level to 91% with a commitment from internet business solutions company Web Teks Inc. to lease 6,200 sf of space.
HAGERSTOWN, MD-The Home Depot scopes out a spot for a new distribution center and settles on the 825,000-sf warehouse building that formerly housed the TruServ Corp. Home Depot will settle into 455,000 sf of that space by 2006.
GAITHERSBURG, MD-A private real estate investment company spends $9 million to acquire the 172,000-sf shopping center at 600 N. Frederick Ave. The fully leased property is home to retailer Burlington Coat Factory.
RESTON, VA-The three-years-young, 185,000-sf office building known as One Reston Crescent, gets its first tenant with Nextel Communications' 10-year lease on the entire space.
COLUMBIA, MD-With a $2-million makeover and a boosting of the occupancy level, the 475,000-sf Snowden Distribution Center brings in $25.7 million for its seller, just two years after its acquisition for $13.5 million.