WESTFIELDS, VA-The $12.6 million office complex Liberty Center at Westfields is able to welcome its government subcontractor tenant earlier than expected as contractor Bovis Lend Lease completes construction of the 165,000-sf build-to-suit four months ahead of schedule.
ROANOKE, VA-The 133,600-sf manufacturing plant at 7702 Plantation Road has been sold in a $3.2 million sale-leaseback arrangement between owner and occupant Atlanta, GA-based BSC Ventures LLC, and buyer Autumn Investments. BSC will leaseback the space for its Double Envelope and Convertagraphics subsidiaries.
RICHMOND, VA-A $10 million loan is secured for the redevelopment of the historic structure at 15th and Dock streets. John B. Levy & Company facilitated the financing package for the 112,000-sf, class A office structure, which is currently only 30% pre-leased.
RICHMOND, VA-Multifamily REIT United Dominion Realty Trust Inc. announces a debt offering of as much as $228 million. The company is offering to purchase back outstanding debt securities from two series of notes scheduled to mature in 2006 and 2024.
ARLINGTON, VA-The Hudson, a 293-unit apartment complex to debut next summer, secures a $51.25-million financing package from Chicago-based Corus Bank. The project will consist of an archway-linked high-rise structure and a condominium-style building.
DANNVILLE, VA-Universal Leaf Tobacco Company Inc. makes room for 38 more employees with a planned $28 million makeover of its Pittsylvania County plant. Virginia beat out North Carolina as the location for the upgrade, which will allow Universal to substantially expand its processing capabilities.
WASHINGTON, DC-The once-popular but recently closed Hogates Seafood Restaurant gets snapped up by the National Capital Revitalization Corp. in a $5.5 million leasehold deal. NCRC will sublease the property before redeveloping it and surrounding acquisitions as part of the Anacostia Waterfront Initiative.
JESSUP, MD-Giant Food Inc. breaks ground on a new 370,000-sf distribution center that will cost a reported $45 million to develop. The new 73-acre perishables facility will replace the company's aging Landover, MD center, and will ultimately employ 550 workers.
ROCKVILLE, MD-Telenor Satellite Services has committed to move its new headquarters to a 38,000-sf space in the class A Tower Building on the sprawling Tower Oaks mixed-use campus. Space in the 10-story, 260,000-sf, environmentally and technology friendly structure leases for $32.50 to $34.00 per sf.
GLEN BURNIE, MD-Ownership of Glen Burnie Mall changes with local real estate company Petrie Ventures' recent acquisition of the 410,000-sf shopping center from Simon Property Group in a $20 million deal. Petrie plans a two-year renovation that will include a new Target store.