DULLES, VA-A 41,800-sf flex building in the multi-structure, 140,000-sf Cascades Business Center sells to Dulles Marketing & Services LLC for $3.11 million. Buchanan Partners developed the building last year.
CHANTILLY, VA-In a $48-million deal, the Greens I and Greens II office buildings in Westfields Corporate Center office park become the property of Columbia, MD-based Corporate Office Properties Trust. The six-story structures offer 290,250 sf of space and are about 96% leased.
FREDERICK, MD-Mt. St. Mary's College expands its presence in Frederick by increasing its space at 270 Technology Park from 4,500 sf to 16,000-sf. The new classrooms will be housed in another one of the 750,000-sf park's 18 buildings, which lease for about $12.50 per foot.
WASHINGTON, DC-A proposal by the Department of the Army for a $90-million structure to replace the current 50-year-old DeWitt Army Hospital building takes a step toward reality with the National Capital Planning Commission's recent approval of the plan. The new structure would be a 314,000-sf state-of-the-art facility.
BEL AIR, MD-Greenbrier Shopping Center and an adjacent five-acre parcel sell to Mid-Atlantic Realty Trust for $25.5 million. Security Management Corp. developed the property--which is anchored by a 55,000-sf Safeway market and sits on a 14-acre plot--in the mid-1990s.
WASHINGTON, DC METRO-Healthcare organizations APS Healthcare and ValueOptions commit to a combined 130,000 sf of space at Silver Spring, MD's Silver Spring Metro Plaza and Reston, VA's Sunrise Technology Park, respectively.
WASHINGTON, DC-The Real Estate Roundtable will reiterate the need for a federal terrorism insurance backstop today at President Bush's economic forum in Texas. Organization officials are expected to call attention to the corresponding dearth of construction and other resulting negative implications.
COLUMBIA, MD-The 20-year-old, 68,000-sf office building at 5457 Twin Knolls Rd. sells at auction to Washington, DC's Douglas Development Corp. for $7.35 million. The four-story building has a current assessment value of $5.3 million.
STAUNTON, VA-An 87,000-sf space that formerly housed a Wal-Mart gets a new occupant with Fisher Auto Parts Inc.'s decision to sublease the spot in Augusta County's Statler Crossing Shopping Center. Fisher becomes the 167,000-sf strip mall's lead tenant in the seven-year deal.
ALEXANDRIA, VA-Washington, DC-based CarrAmerica Realty Corp. will acquire a five-building, 590,000-sf office portfolio from Boston's Beacon Capital Partners for $141.5 million. The REIT expects to close the deal before the end of this quarter.