WEST VIRGINIA-Office products and specialty chemicals manufacturer MeadWestvaco Corp. lets go of 95,500 acres of prime West Virginia forestland in an all-cash deal. A Forestland Group LLC subsidiary acquired the property for $50 million.
RESTON, VA-Developers of the 1.2 million-sf mixed use development known as Plaza America complete a 10-year commitment to funding commercial and infrastructure projects in the area. This most recent and final installment is for transportation improvements.
WASHINGTON, DC-Popular Swedish apparel chain Hennes & Mauritz makes its way to the District with a 27,000-sf store in the former Woodward & Lothrop building. The "Woodies" building location will be one of seven stores that will open in the Washington area.
WASHINGTON, DC-Walls are ready to go up for the new 650,000-sf building that will serve as the International Monetary Fund's new headquarters. The $145 million, 12-story office structure will be ready for occupancy in mid-2005.
BETHESDA, MD-Metropolitan Washington makes room for the area's fourth Daily Grill restaurant as the owner of the eatery chain commits to a long-term lease of a 6,000-sf space at the Hyatt Regency Bethesda. The new $2-million restaurant is expected to debut next summer.
NORFALK, VA-Wal-Mart Real Estate Business Trust makes plans to convert its 114,500-sf Military Road store to a 220,000-sf supercenter with the recent acquisition of nearly eight acres at the Janaf Shopping Center. The space had been home to a General Cinema complex.
LANDOVER, MD-Demolition experts bring down the former US Airways Arena with 350 pounds of explosives. The dusty remains of the 30-year-old structure are being carted away to make room for a new $85-million, mixed-use sports and entertainment facility scheduled to open next fall.
WASHINGTON, DC-The class A office and retail building at 1750 H St. reaches substantial completion, according to project contractor The Clark Construction Group. The contract value for the 171,000-sf, 11-story tower--which is a project of CarrAmerica Urban Development 11--$14.4 million.
ROCKVILLE, MD- The commercial mortgage company continues to make great progress in restabilizing itself following its 2001 emergence from bankruptcy, as evidenced by investments that will ultimately allow the company to pay $353 million on its debts.
WISE COUNTY, VA-Verizon Communications reveals it will open a $3.3-million customer service Center in the 195-acre Lonesome Pine Regional Business and Technology Park. The 9,600-sf Verizon Welcome Center will occupy about one-third of a pre-existing, single-story structure in the sprawling park.