BALTIMORE-Baltimore-based REIT Prime Retail reveals it will have spent $100 million in upgrading its 29 retail outlet centers by the end of the year. The renovation program is being made possible as a result of the company's 2003 change in ownership.
BALTIMORE-Baltimore-based REIT Prime Retail reveals it will have spent $100 million in upgrading its 29 retail outlet centers by the end of the year. The renovation program is being made possible as a result of the company's 2003 change in ownership.
CHESAPEAKE, VA-The 300,000-sf industrial facility at 1400 Cavalier Blvd. sells in a deal valued at $13.2 million. The property, which is currently 94% occupied, is enhanced by a seven-acre parcel that can accommodate an additional 100,000 sf of distribution space.
WASHINGTON, DC-Law firm Weil, Gotshal & Manges LLP makes plans for an expansion with the recent signing of a lease for about 97,200 sf at 1300 I St. NW, a 500,000-sf office structure known as Franklin Square. The move from its current home will give the firm an additional 42,200 sf of elbow room.
DULLES, VA-Construction is set to begin in May on Parc Dulles at Dulles Town Center, a 393-unit luxury apartment community. If all goes as planned, the project will welcome its first tenants next summer.
LARGO, MD-The 184-room Doubletree Club Hotel sells for nearly $8.5 million. The partnership of AMC Delancy Group Inc. and Paramount Hotel Group LLC is planning a renovation of the property, after which it will be renamed the Radisson Hotel Largo.
WASHINGTON, DC-The Office of Federal Housing Enterprise Oversight director Armando Falcon Jr. said government-sponsored enterprise Fannie Mae has made "a willful disregard of accounting rules." Meanwhile Congress tries to hammer out legislation that would allow for a tighter reign on the GSEs.
COLUMBIA, MD-Corporate Office Properties Trust joins forces with Bethesda's Somerset Construction Co. on a project that will ultimately add approximately 1.8 million sf in prime office space to the Baltimore area commercial real estate market. COPT says the project, which will take an estimated five to 10 years to complete, should cost about $325 million.
DULLES, VA-Loudoun Gateway III, a 76,600-sf class A office building at the 39-acre, five-building Loudoun Gateway Corporate Center, sells for $13.2 million. The three-story structure is the headquarters of FLYi Inc., which oversees the new airline Independence Air.
DULLES, VA-Loudoun Gateway III, a 76,600-sf class A office building at the 39-acre, five-building Loudoun Gateway Corporate Center, sells for $13.2 million. The three-story structure is the headquarters of FLYi Inc., which oversees the new airline Independence Air.
