STERLING, VA-The area's stable of extended-stay properties is due to grow by 250 rooms with the recent breaking of ground on two new hotel properties, Candlewood Suites Hotel and Suburban Extended Stay Hotel.
SUITLAND, MD-Prince George's County officials celebrate the official opening of the Windsor Crossing residential community. The 350-unit apartment and condominium property carries a $40-million development cost.
ROCKVILLE, MD-Criimi Mae's Board loses one of its directors as Donald J. MacKinnon submits his letter of resignation. MacKinnon leaves his post to avoid conflicts of interest in his new position at Nomura Securities International.
TIMONIUM, MD-Months after being displaced by a water main fiasco, TESSCO Technologies decides to stay put in the 95,000-sf space it ultimately came to inhabit following a forced relocation.
HAGERSTOWN, MD-Lowe's reveals plans to expand its distribution center by building a new 230,000-sf home in the CSX Valley Park. Lowe's expects to spend $17.8 million to realize the project.
FAIRFAX, VA-The Mosby, a combination office and residential property moves on to a new portfolio as Landfall Capital LLC claims the mixed-use development as its own. Both the apartment and the office are at 94% capacity.
RICHMOND, VA-One-time Service Merchandise stores sell to two different buyers through Divaris Real Estate Inc. The properties, both 60,000 sf and occupying similarly sized parcels, brought in a total of $10.7 million.
CHARLOTTESVILLE, VA-REITs had a good year in--their best in more than a decade--according to SNL Financial LC. At total returns of 37.5%, REITs outperformed the S&P 500. The healthcare sector topped the list of with returns of 56%.
ROCKVILLE, MD-The Tower Building, a new environmentally sound office structure reaches maximum capacity with the US Department of Health and Human Services' extension and expansion of its lease.
GLEN ALLEN, VA-The Carriage Homes at Wyndham apartment complex comes under new ownership with its recent purchase by United Dominion Realty Trust Inc. in a $31.6 million deal.