ANNAPOLIS, MD-The conversion of the former Parole Plaza into the Annapolis Towne Centre at Parole is under way. The scheduled completion date is 2008. The $400-million endeavor will result in a new shopping mall, as well as office and residential offerings.
FAIRFAX, VA-Fairfax Medical Center changes hands in a deal valued at $12 million. The 56,000-sf office facility was developed in 1959 and expanded 30 years later.
HERNDON, VA-Access Property Services Inc. acquires the 88,800-sf office building known as Parkway One for $18 million. Presently 88% occupied, the Dulles Corridor property last changed hands six years ago for $11.3 million.
WASHINGTON, DC-Penzance Properties LLC takes title to the 179,000-sf office building at 1101 Connecticut Ave. NW. The class A property, located in the central business district, also features about 23,000 sf of retail and food court space.
HAMPTON, VA-The US Air Force signs on for 72,400 sf in a 97,800-sf building at the Hampton Roads Research Quad months in advance of the facility's completion. The structure will be one of five buildings at the 300,000-sf office and research park.
FAIRFAX, VA-Colony Realty Partners acquires Fair Oaks Commerce Center, a 139,000-sf office facility off Interstate 66, for $40.5-million. The nearly two-decade-old building is presently fully leased and last traded in 2000 for $25 million.
WASHINGTON, DC-Signing a five and one-half-year lease, the Landmine Survivors Network brings the occupancy level at 2100 M St. NW up to 100%. The 300,000-sf office building is also home to the Urban Institute and law firm Stewart & Stewart.
HANOVER, MD-The Social Security Administration commits to 144,400 sf within a facility at the Preston Gateway Corporate Park. The 313,900-sf office/warehouse building is one of four structures that will ultimately comprise the planned one-million-sf industrial/office campus.
WASHINGTON, DC-Marriott International Inc. wraps up disposition of land underneath 75 Courtyard by Marriott hotels in a $246-million cash transaction. Additionally, the hotel company will retain interest in the joint venture with the donation of nine more parcels.
WASHINGTON, DC-Marriott International Inc. wraps up disposition of land underneath 75 Courtyard by Marriott hotels in a $246-million cash transaction. Additionally, the hotel company will retain interest in the joint venture with the donation of nine more parcels.