WOODLAWN, MD-A former Sam's Club Warehouse undergoes a massive $8.5 million transformation into a 140,000-sf class A office building. The Social Security Administration will occupy the structure while its local office building undergoes its own renovation.
WASHINGTON, DC-The 2.3-million-sf Washington Convention Center opens its door after years of planning and development. Located on 17-acres of land in the city, the $833-million project is expected to bring in about $1.4 billion annually once it is fully operational.
FAIRFAX COUNTY, VA-The firm is adding two new retail centers to its portfolio with the $31 million purchase of South Valley Shopping Center and Mount Vernon Plaza from separate owners. The adjacent properties account for 213,000 sf and 257,000 sf, respectively.
FAIRFAX COUNTY, VA-The firm is adding two new retail centers to its portfolio with the $31 million purchase of South Valley Shopping Center and Mount Vernon Plaza from separate owners. The adjacent properties account for 213,000 sf and 257,000 sf, respectively.
VIENNA, VA-IBM takes on nearly 70,000 sf in the 200,000-sf building in the Towers Crescent office development complex. The company will occupy the space, located at 8020 Towers Crescent Dr., under a five-year lease agreement.
ANNE ARUNDEL COUNTY, MD-Corporate Office Properties Trust secures a tenant to occupy what will be a new 157,000-sf, class A office building within the National Business Park. California-headquartered communication systems services provider the Titan Corp. will take up residence in the entire $26-million building.
WASHINGTON, DC-Envisioning an upswing in the hospitality industry, which took a big hit after Sept. 11, management company Interstate Hotels & Resorts taps one of its own to serve as chief investment officer. Steven D. Jorns officially begins his new job on April 1.
COLLEGE PARK, MD-The Clark Construction Group Inc. gives the University of Maryland a helping hand with its new engineering facility by serving as the general contractor on the 155,000-sf project. The $39 million building is expected to be up and running in December 2004.
WASHINGTON, DC-Marriott International Inc. bids a fond farewell to the senior-living property business with the closing of a $255-million disposition of Marriott Senior Services Inc.'s remaining senior communities and outstanding stock. All together, the selling-off of the subsidiary leaves Marriott with about $400 million to play with.
WASHINGTON, DC-It seems the commercial real estate market is headed for a comeback, or so says the National Association of Realtors. The organization explains that an expected increase in jobs will indirectly spur the industry's recovery, but a lengthy war would reverse the process.
