BALTIMORE, MD-The $70-million residential and retail project called Centerpoint gets underway with an official groundbreaking ceremony. Upon its expected 2004 completion, the development will encompass nearly 400 residential units, 35,000 sf of retail space, and a 400-space parking garage.
WASHINGTON, DC-Two Class B buildings accounting for 215,000 sf of space sell for $48.125 million in a package deal to AEW Capital Management, acting on behalf of Lucent Technologies Inc. Master Pension Trust.
WESTMINSTER, MD-Carroll County General Hospital gets moving on its $80-million expansion with a groundbreaking ceremony. The project entails the addition of a 113,000-sf bed tower and the 25,000-sf renovation of the emergency room. The completion date is set for 2004.
SPRINGFIELD, VA-The 1,122-space parking garage will open in 2003. The state of Virginia and Fairfax County are funding the new six-level facility, which will complement the existing 4,100-space garage.
WASHINGTON, DC-A request for proposals for the redevelopment of the District's soon-to-be-demolished, 10.5-acre convention center site may go out this summer, as Mayor Anthony A. William makes a formal request to the DC City Council to allow the issuing of the RFP.
WOODLAWN, MD-The 177,000-sf former JC Penney outlet in the Security Square Mall is about to be sold to Baltimore, MD's MIE Properties Inc. in a $2.2 million deal. The two-level space has been vacant since the retailer closed its store there in August.
NORFOLK, VA-Construction of the $40-million class A office development at 150 W. Main has been completed and tenants are ready to occupy the 10-story, 224,000-sf office space and 10-story garage. The structure is now the fifth-tallest building in the city's downtown area.
COLUMBIA, MD-In a $16 million transaction, the 145,806-sf building at 7000 Columbia Gateway Drive becomes Corporate Office Properties Trust's 15th property in the multi-structure Columbia Gateway Business Park.
FAIRFAX COUNTY, VA-A joint venture between Atlanta, GA's Trammell Crow Residential and Saudi Arabia's The Olayan Group breaks ground on Alexan Fairfax Ridge, a 420-unit luxury apartment complex in western Fairfax. The upscale apartment community will be TCR's sixth Alexan development project in the Washington metro area.
WASHINGTON, DC-As Moody's puts 14 CMBS on the downgrade watch list due to insufficient terrorism coverage, the Mortgage Bankers Association implores the Senate to pass terrorism insurance legislation immediately.