BOWIE, MD-Prince George's County residents now have a new 86-store mall to peruse, with the official opening of the Bowie Town Center. Simon Property Group of Indianapolis is owner and operator of the $100-million open-air complex.
ELLICOTT CITY, MD-The $2.8 million Howard County officials just made from surplus property sales is only the beginning. They hope to make $7 million or so on additional sales, and will use the profit to fund their new office complex.
ATLANTA-The Cleveland, OH-based retailer tells GlobeSt.com it will remain in Atlanta, disputing a report from Deutsche Banc analysts that the company will announce its departure today during an earnings call report.
WASHINGTON, DC-After 50 years of providing housing for lower income residents, The Huntwood Apartments will undergo a long-awaited $12.6 million renovation. Upon completion, most of the 214-housing units will be priced affordably for residents earning less than the area median income.
GAITHERSBURG, MD-The Quince Orchard Cluster apartment community sells for $51 million in a transaction brokered by Transwestern Commercial Services. Fairfield Residential, serving as managing general partner in a partnership arrangement, becomes the new owner of the 684-unit complex.
ANNAPOLIS, MD-After months of negotiation, the US Navy and Anne Arundel County officials make progress on a deal to transfer ownership of a former naval facility to the county for eventual redevelopment. Annapolis Partners is on board to build a $250 million office park on the abandoned site.
ARLINGTON, VA-KSI Services' The Metropolitan at Arlington is one step closer to construction as the company tears down the former Pentagon City Hospital to make way for the new apartment community. Work on the $30 million project will be completed in 2002.
WASHINGTON, DC-The Service Employees International Union (SEIU) says Boston Properties' collection of undeveloped land has grown at a potentially hazardous pace. SEIU's Boston Properties Watch--the union's information service that operates independently of the REIT--reports that Boston Properties' land bank has increased by 45% over the last 18 months.
BALTIMORE, MD-Amid financial troubles, three Prime Retail Inc. executives resign from the Board of Directors. The ailing company's CEO thanks the departing members, and plans to replace two of the positions in a December shareholder meeting.