WASHINGTON, DC-Boston Properties pockets $345 million in the sale of its One and Two Independence Square properties to Wells Real Estate Investment Trust. Developed in the early 1990s, the class A office buildings account for a total of nearly 950,000 sf of space on E St. in the District's southwest area.
VIRGINIA BEACH, VA-The State welcomes Israeli secure identification card manufacturer SafeCard ID Inc., which is opening its headquarters in a 20,000-sf space in Oceana Commerce Park. Virginia beat out Colorado, Maryland, New York, the UK and Israel for the $10-million project.
FAIRFAX, VA-The AMS Building--the 264,000-sf, class A office structure at 12601 Fair Lakes Circle--gets a new owner with Prentiss Properties Trust's $55-million purchase of the property from Gilbane Building Co. American Management Services has a lease on the entire building through 2011.
FAIRFAX, VA-The AMS Building--the 264,000-sf, class A office structure at 12601 Fair Lakes Circle--gets a new owner with Prentiss Properties Trust's $55-million purchase of the property from Gilbane Building Co. American Management Services has a lease on the entire building through 2011.
RESTON, VA-Two Freedom Square gets another new tenant with information technology company High Performance Technologies' leasing of an entire floor in the 424,000-sf building. HPT will relocate its Arlington, VA-based headquarters to the new 22,640-sf space. The building is now 75% leased.
BALTIMORE, MD-Plans to facilitate the $19-million emergence of a new 116-room Hampton Inn & Suites from a an historic office building move forward with a $3.5-million financing package from Texas's Hall Financial Group and North Carolina-based Winston Hotels Inc.
WYTHEVILLE, VA-The Pepsi Bottling Group Inc. chooses Virginia over West Virginia for the site of a new 300,000-sf, $65-million bottling plant. Site work on the facility is already under way.
NORFOLK, VA-Continuing its strategy of disposing of assets to optimize returns, Harbor Group International sells two of its holdings for a total of $8.2 million. The deal involves the 140-unit Tivoli Apartments and the 54,144-sf Woodlawn Village shopping center.
WASHINGTON, DC-For all intents and purposes, terrorism insurance legislation is now a sure thing. The US Senate signed off on the bill last night, marking the close of the lame-duck session. President George W. Bush is expected to sign the legislation immediately.
WASHINGTON, DC-Congress passes the FHA Downpayment Simplification Act of 2002--legislation that will eventually make it easier for developers to build affordable housing.