RESTON, VA-Redmond, CA-headquartered software giant Microsoft is leasing 50,000 in Reston Town Center's yet to be completed 2 Discovery Square. Taking on space in the 185,220-sf structure marks Microsoft's first and only presence in the Northern Virginia tech market.
FELLS, POINT, MD-A second tenant, Brown Investment Advisory & Trust Co., signs on for 22,000 sf of space at the unfinished $20 million, 210,000-sf Bond Street Wharf building, bringing the leasing status of the structure to more than 33%.
WASHINGTON, DC-As part of its multi-million dollar advertising campaign, the National Association of Realtors begins airing radio advertisements today in an effort to gain more support for legislation that will prevent banking conglomerates from entering the real estate brokerage and property management markets.
ARLINGTON, VA-Cost Plus World Market opens its fifth location in the Washington DC area at the outdoor mall Pentagon Row. Located at 1301 South Joyce St., the new World Market outlet offers 16,300-sf of specialty retail space and is the company's flagship store in the DC region.
WASHINGTON, DC-The National Association of Realtors applauds the passing an economic stimulus package, which includes a provision allowing businesses take a first-year 30% tax deduction on the cost of leasehold tenant improvements made in the next three years.
HOT SPRINGS, VA-The South Carolina-based developer acquires 12,300 acres of land in a $16-million transaction. The deal calls for Celebration to sell 9,000 acres--land that will be permanently conserved--to the Nature Conservancy of Virginia for $6.3 million.
ROCKVILLE, MD-In an $11.3-million cash deal, CRIIMI MAE Inc.'s commercial mortgage servicing subsidiary CRIIMI MAE Services LP sells nine master and primary servicing contracts.
WASHINGTON, DC-The American Society of Association Executives acquires majority ownership of 1575 Eye St., while Carr Capitol takes a general partnership interest in the 208,600-sf building. The deal was based on an estimated building value of $58.7 million.
WASHINGTON, DC-The 145,000-sf data center at 1501 N. Capitol St., SW sells for $6.2 million to U-Haul affiliate Five-Sac. The new owners will use the facility as a self-storage and truck and rental location.
ROCKVILLE, MD-Kaiser Permanente subleases 46,300 sf for a new medical center in the building at 1396 Piccard Dr. The structure is still under lease by MedStar, which once used the facility as a Georgetown Medical Center practice location.
