WASHINGTON, DC-Advantis Real Estate Services becomes the exclusive sub-manager of all Washington Metro-area properties belonging to MGP Real Estate LLC. The arrangement is valued at more than $1.5 million in revenue per year for Advantis.
WASHINGTON, DC-The century-old building at 2012 Massachusetts has been sold to the Embassy of Portugal for $6.8 million. Its previous owner, the Business and Professional Women USA organization, is searching for a new home but will continue to use the 16,000-sf building as its headquarters free-of-charge until Aug. 15.
CAPITAL HEIGHTS, MD-A 240,000-sf warehouse and its attached five-acre vacant plot of land sell for $12.4 million to a group of investors represented by CB Richard Ellis Investors LLC.
WASHINGTON, DC-Celebrity athlete Michael Jordan opens an 11,000-sf restaurant on the ground level of the Ronald Reagan Building and International Trade Center, the second-largest building in the DC area. The eponomously named jordan's is a two-floor, 180-seat establishment that is the former home of Palomino Euro Bistro.
WASHINGTON, DC-The historic facade and land that serve as the sole reminder of the century-old Atlantic Building have been sold to District developer Douglas Jemal of Douglas Development Corp. The sale price was rumored at $10.5 million.
WASHINGTON, DC-The District of Columbia Building Industry Association elects officers and directors for 2002, and names William B. Alsup, II of Houston's Hines Interests Limited Partnership to be the organization's new president.
RICHMOND, VA-The 23,700-sf structure that houses the local US Drug Enforcement Agency office sells for $2.25 million. A Class B building built in 1989, the structure was once home to the local Federal Bureau of Investigation office.
BALTIMORE, MD-The $35-million Symphony Center project is now more than half completed with the recent opening of the complex's two office structure's and connecting parking garage. A 135-unit apartment building is to follow and will likely be available for occupancy by 2003.
WASHINGTON, DC-The National Multi Housing Council and the National Apartment Association tell the House Financial Services Committee that devastating economic consequences of company's not being able to attain affordable insurance against terrorism are already beginning to occur.
NORFOLK, VA-Dominion Tower, the largest office building in the city at 26 floors high and with 400,234 sf of space, has been sold for $54 million. Equity Office Properties has passed ownership to the New Life Corporation of America.