ST. CHARLES, MD-Town Center South owner Interstate General Company is close to signing a deal with Benderson Development that would allow the latter to acquire 50 to 151 acres of property at Town Center South for $200,000 to $270,000 per acre.
ANNANDALE, VA-Spaulding & Slye Colliers takes on the marketing and leasing responsibilities for Heritage Center IV, the fourth and last installment in the multi-structure Heritage Center IV office park. Space in the 206,000-sf, 10-story, Class A building ranges from $26.50-per-sf to $29.50-per-sf.
WASHINGTON, DC-A survey commissioned by the Building Owners and Managers Association and the Urban Land Institute finds heightened security awareness among building owners, managers and developers since the Sept. 11 terror attacks, but no drastic changes in security procedures and measures.
WASHINGTON, DC-At a congressional hearing, the National Association of Realtors and Sen. Hillary Clinton call on Congress to support legislation blocking banks' entry into the real estate industry.
VIRGINIA BEACH, VA-Formerly fully leased to Raytheon Service Corp, the 68,000-sf building located at 5740 Bayside Dr. and owned by New Jersey's Monmouth Real Estate Investment Corp. sells for $2.2 million to North Carolina's J&H Realty Corp. The building, which commanded $2.5 million when Monmouth acquired it in 1996, has been vacant for the last 18 months.
BALTIMORE, MD-Himmerlich Associates Inc, developer of the $100 million Montgomery Park Business Center redevelopment project, secures $22.6 million in financing from Citigroup Center for Community Development Enterprise. The historic 1.3 million-sf structure is the former Montgomery Ward Warehouse and Retail Store building.
BETHESDA, MD-The Air Rights Center sells for $147 million to the Teachers Insurance Annuity Association affiliate Bethesda ARC LLC. The multi-structure property is leased to near capacity and had been in the possession of Lowe Enterprises Investment management for the last five years.
VIRGINIA BEACH, VA-Formerly fully-leased to Raytheon Service Corp., the 68,000-sf building owned by New Jersye's Monomluth Real Estate Invewstment Corp. sells for $2.15 million to North Carolina's J&H Realty Corp.
WASHINGTON, DC-The 16-year-old class A office building at 2445 M St. sells to Beacon Capital Partners in an $84.5 million transaction with Germany-based owner Deka Immoblien Investment GmbH. Deka bought the 273,000-sf, nine-story property from developer CarrAmerica four years ago for $78.1 million.
OWINGS MILLS, MD-Toyota and Lexus Financial Services opens its Eastern Region Customer Service Center after leasing the 100,000-sf space at Red Brook Financial Center. Leasing rates at the multi-structure office complex are in the $18 to $20 per-sf range.
