LANSDOWNE, VA-The 207-acre Lansdowne Resort joins the portfolio of Maryland-based lodging REIT LaSalle Hotel Properties in a $115 million deal. LaSalle will invest $26 million to add a second 18-hole golf course and to upgrade the 296-room hotel.
WASHINGTON, DC-Responding to particular facet of the USA Patriot Act, the Real Estate Roundtable cautions the Treasury Department that a facet of the legislation could unduly burden the commercial real estate industry.
SUITLAND, MD-The Washington Metropolitan Transportation Authority gets its new 87,500-sf, 39-acre storage yard at the Branch Ave. Metro Station up and running with the assistance of the Clark Construction Group Inc.
WASHINGTON, DC-The City Museum opens its doors as The Clark Construction Group wraps up redevelopment of Carnegie Library Building, the 64,000-sf structure that houses the new museum.
REEDVILLE, VA-Houston's Omega Protein Corp. continues its plan to expand production of its OmegaPure product by beginning construction on a $16 million, 60,000-sf facility. The project is on target for completion next May.
ROCKVILLE, MD-The JBG Cos. takes hold of the properties at 3 and 5 Cherry Rd. in a deal with seller TA/Western LLC. The 10-acre properties--valued at a combined $11 million--include a multi-tenanted 68,000-sf office building and a vacant 40,000-sf structure.
VIRGINIA BEACH, VA-Local managed healthcare company Amerigroup Corp. looks around in Texas but decides to develop its latest expansion effort in the Commonwealth of Virginia. The nine-year-old firm will spend $56 million to build two 106,000-sf buildings to house its team of information technology employees.
WASHINGTON, DC-The class A office tower being developed at 901 New York Ave. prepares to welcome another tenant upon its scheduled completion in 2004. Law firm Powell Goldstein Frazer & Murphy LLP preleases 85,000 sf in what will be a 530,000-sf building.
WASHINGTON, DC-Board members of the five-year-old International Society of Hospitality Purchasers Inc. elect a new president--Ramsey Purchasing's Jennifer Ramsey. She replaces Alan Benjamin, who has been president since 2001.
WASHINGTON, DC-The District's Office of Property Management comes under the microscope amid the resignation of office director Tim Dimond amid inquiries into possible illegal dealings in lease agreements with local property developer Douglas Development Corp.