ROANOKE, VA-In a $9 million deal, the two-year-old, 1,222-sf movie house Consolidated Valley View Grande 16 Theatre sells to a joint venture involving One Liberty Properties Inc. and DB Real Estate-Private Equity. North Carolina's Consolidated Theatres developed the 2,900-seat property for $11 million.
CHESTERFIELD COUNTY, VA-Developer Devon USA nears completion of two new 400,000 sf, $30 million warehouse and logistics center buildings for Wilmington, DE-based chemical company DuPont. The new facilities will allow the chemical company to consolidate seven other leased warehouse spaces in the Richmond region.
LORTON, VA-The DC Department of Corrections' Lorton Correctional Complex becomes the official property of Fairfax County in a "razor-wire" cutting ceremony that also marks the county's conversion of 1,600 acres of the property into park and green space to be called Laurel Hill.
ACCOKEEK, MD-Giant Food signs a lease for a 55,800-sf space with Manokeek Village Ctr. developer Manekin LLC in a 25-year deal. Giant grocery store will serve as the anchor tenant for the new 150,000-sf center and will open its doors next spring.
MCLEAN, VA-In a joint venture deal, real estate company Bresler & Reiner Inc. takes on a 25% interest in Fairfax County's 18-year-old Madison Building. All of the structure's 82,000-sf of space is leased to tenants ranging from realtors to physicians and attorneys.
WILMINGTON, DE-New York's Advance Magazine Publishers signs a sublease and a lease of 93,000 sf in two buildings where it will house its new shared-services center. The long-term deals provide options for expansion and are valued at a total of $20 million.
MONTGOMERY COUNTY, MD-County officials say two new biotech parks covering 155 acres are in the works and should open in 2004. The projects are in the early stages but county and state organizations have already committed $6 million to getting the parks off the ground.
WASHINGTON, DC-Construction on Georgetown University's Southwest Quadrangle Project--a $136-million, 860,000-sf development--tops out, and contractor Clark Construction Group plans for completion sometime in 2003. The multi-faceted project includes student housing, a dining hall, and parking facilities.
DULLES, VA-Washington Dulles International Airport's new Concourse C--a $1 billion, 1.8 million-sf replacement endeavor planned as part of Metropolitan Washington Airports Authority's $3.4 billion construction program--remains on the backburner almost an entire year after the dawn of the terrorism-induced travel slump.
BALTIMORE, MD-Interstate 95 Distributors Inc., a local sundries supplier, leases a 130,000-sf space in Carroll Camden Industrial Park in a five-year deal. The company will consolidate other area offices at its new location. Similar space in the 500-acre flex park leases for about $3.25-per-sf.