ARLINGTON, VA-The 172-unit, 44-year-old, Quebec Apartments complex emerges from an $11-million renovation after a year of upgrades and improvements. To accommodate a greater percentage of larger families in the area, property owner Silverwood Associates Inc. converted many two-bedroom units to three-bedroom apartments.
BALTIMORE, MD-Constellation Energy Group's subsidiary Constellation Health Services leaves the assisted-living property business with the disposition of 15 such complexes in a $77-million deal. Five Star Quality Care and Senior Housing Properties Trust acquire the facilities in a joint transaction.
WASHINGTON, DC-Oncor International, the umbrella organization of more than 50 independent commercial real estate firms, makes plans to vacate its Washington, DC headquarters for Chicago early next year. The company's decision to leave the District after four years is all about location.
ORANGE COUNTY-Adhesive product developer Lohmann Corp. reveals plans to construct a 25,000-sf manufacturing plant in the 155-acre Thomas E. Lee Industrial Park. The $5.7-million endeavor is expected to get under way in December and is scheduled for completion in August 2003.
PRINCE FREDERICK, MD-The new 92-acre Patuxent Business Park takes its first steps with a groundbreaking ceremony and plans for its first building, on which construction will begin next spring. Ultimately, the park will offer 650,000 sf of office, flex, and possibly light industrial space.
BALTIMORE, MD-Leading book retailer Barnes & Noble Booksellers comes to Festival at Woodholme Shopping Center, committing to a lease on a 24,500-sf space in the 81,000-sf upscale strip mall. The store is scheduled to make its debut in July of next year.
WASHINGTON, DC-Results of the National Multi Housing Council's third quarter Survey of Apartment Conditions reveals that while sales volume is on the rise, market tightness is taking a hit. The numbers, industry officials say, are reflective of the current economic climate.
ALEXANDRIA, VA-Construction of Avalon at Arlington Square II--the 332-unit, final phase of a two-part development project--has come to an end. The $42.6-million luxury community of apartment homes is already 63% leased, and came in under schedule and under budget.
PORTSMOUTH, VA-APM Terminals Virginia Inc.'s plans for a $385 million marine terminal are now official with the company's recent submission of a proposal to the US Army Corps of Engineers for approval.
BALTIMORE, MD-Development of the Reginald F. Lewis Museum of Maryland African American History and Culture gets going courtesy of a $21.3 million cash infusion for construction from the Maryland Board of Public Works.