NORFOLK, VA-Broad Creek Renaissance--the city's $200-million neighborhood revitalization project--gets under way with the cornerstone-laying ceremony for the development's first phase, the 100-unit Franklin Arms senior-living complex.

HANOVER, MD-Office products supplier Corporate Express will build a 200,000-sf structure in Hillside Business Park to serve as its mid-Atlantic division headquarters. The facility could cost an estimated $15 million to build, and is scheduled for completion in the spring of 2003.

RICHMOND, VA-Multi-family REIT United Dominion Realty Trust Inc. wraps up $475 million in transactions during the second quarter. The company also reports $54.4 in FFO for the same period, a 10% jump over the second quarter of 2001.

ROCKVILLE, MD-The 17-building 900,450-sf Metro Park North business park gets new leasing agents as owner PS Business Parks awards the complex's leasing assignment to Transwestern Commercial Services. Insignia/ESG had been handling leasing activity since PS Business Parks acquired the property late last year.

GERMANTOWN, MD-Two-year-old Avalon Pharmaceuticals will relocate for a third time early next year when it moves into a new 55,000-sf space at Seneca Meadows Corporate Center. The new facility will serve in a research and development capacity.

GAITHERSBURG, MD-Orix Real Estate Equities Inc. moves forward with the development of its $65-million office complex with the purchase of a 7.4-acre plot at the mixed-use business park Washingtonian Center.

VIRGINIA BEACH, VA-The 31-year-old, six-building Pembroke Office Park fetches a respectable $15.4 million in a transaction between owner Virginia Beach Associates LP and buyer Pembroke Office Park LLC.

BALTIMORE, MD-Multifamily housing lender MuniMae reveals the structuring of $394 million in multifamily property financing for the second quarter ending. The number constitutes a significant jump from Q1 when MuniMae reported $214 million in structured financing.