WASHINGTON, DC-The General Services Administration will give away 20 lighthouse properties located in 13 different states later this fall, under a federal disposition program.
WASHINGTON, DC-The Foundry Building, the 216,000-sf brick and glass office building that sits along the historic C&O Canal, sells to Hartford, CT's Cornerstone Real Estate Advisers in a $51-million transaction. Bolstered by its desirable location in popular Georgetown, the building commands lease rates ranging from $30 to $35 per-sf.
SALISBURY, MD-Film material producer VPI/Mirrex breaks ground on a 20,000-sf expansion of its 140,000-sf film and converting plant. The $15 million, state-of-the-art addition will allow the company to triple its production.
FREDERICK, MD-In a deal valued at $4.6 million, EOS LLC has acquired the 44,000-sf building at 7320 Executive Way in the 68-acre Omega Center Park. About 26,000 sf of the three-year-old structure will become home to tenant Earth Data Holdings, a subsidiary of EOS.
WASHINGTON, DC-Congressional members continue to wrangle over the punitive damages aspect of proposed terrorism insurance legislation, as President Bush calls for the passage of a bill by the close of this session. The US House and Senate will adjourn this Friday.
WASHINGTON, DC-The 538,000-sf office building going up at 901 New York Avenue gets another tenant more than a year before its scheduled completion with law firm Shea & Gardner's pre-leasing of over 72,500 sf.
BALTIMORE, MD-Financially hobbled shopping outlet owner Prime Retail Inc. says no to an unsolicited $66.2-million proposal from Fortress Investment Group to buy the company. The REIT has sold off several properties in the last few months in an effort to pay down debts.
ALEXANDRIA, VA-The year-old AMC Hoffman 22 multi-screen movie theater sells to Kansas City, MO's Entertainment Properties Trust in a $22 million deal. The 97,000-sf, 4,000-seat facility is among the 50 best-performing theaters in the country.
WASHINGTON, DC-Marriott Residence Inn Capitol will become the first project of the newly-formed Four Fires LLC, a partnership of American Indian organizations planning to broaden the base of American Indians' income sources beyond gaming investment.
VIRGINIA BEACH, VA-In an $8.1 million transaction, two Hamptons Roads-area shopping centers are sold to Blackwood Capital LLC. Built in the late 1980s, the properties are assessed at $9 million.