ROCKVILLE, MD-Ownership of the office building at 6006 Executive Boulevard changes hands as Philadelphia, PA-headquartered RAIT Investment Trust acquires the property from JBG/JER Twinbrook LP in a $10.6 million transaction.
BALTIMORE, MD-Montgomery Park Business Center, the 1.3 million-sf redevelopment project of the former Montgomery Ward Catalog Building, signs up collection firm NCO Group Inc. as its first private sector tenant. The Horsham, PA-firm takes on 100,000 sf for its new call center.
ARLINGTON, VA-A $101-million deal for Tishman Speyer affiliate TST/Pentagon City WorldCom Inc.'s former MCI headquarters gets the thumbs-down from a bankruptcy court judge. The 540,000-sf, two-building property could end up being leased for the time being.
FAIRFAX, VA-The newest building in Willow Oaks office Park, Willow Oaks III, gets its first tenant as Verizon commits to 41,000 sf. Equient, a Veridian business unit, will begin occupying the space on the sixth and seventh floors in December under a seven-year lease.
LUNENBURG COUNTY-Greenridge Environmental Corp. will establish a $9.5-million environmental remediation firm here, opting against potential sites in other Eastern states. The company has narrowed down the location of the new facility to one of two unidentified existing area properties.
WASHINGTON, DC-With a sniper on the loose, retail property owners reassure customers that since the Sept. 11 attacks facilities have been made as secure as possible. So far, retailers have not resorted to physically altering properties in an effort to better shield customers.
WASHINGTON, DC-Congressional negotiators reach an agreement on a $100 billion terrorism insurance package, calling for the government to cover 90% of terror-attack incurred damages beyond $10 billion. All conferees must sign off on the deal before the House and Senate can pass the legislation.
RESTON, VA-BAE Systems opens the doors of its new 130,000-sf, state-of-the-art headquarters for its Integrated Systems division, adding to the company's already considerable presence in the Fairfax County area. The $51.6 million endeavor will ultimately provide for about 1,000 new job opportunities.
WASHINGTON, DC-The Monarch Hotel gets snapped up for $145 million by Canada's Legacy Hotels Real Estate Investment Trust. Legacy's acquisition of the 415-room luxury property--which will be renamed The Fairmont Washington, DC--includes the assumption of a $51.5-million mortgage.
CHANTILLY, VA-The 275,000-sf Alcatel Building and an accompanying undeveloped parcel of land become the Independence Center with Carr Capital Corporation's recent acquisition of the class A office structure for $30.1 million.