WASHINGTON, DC-As two planes, one a commercial jet, crashed into the twin towers of the World Trade Center in New York, causing them to implode, another commercial plane plowed into a helipad at the Pentagon, collapsing a section of that building. At least 22 people have been transported to Virginia Hospital Center.
WASHINGTON, DC-Several major real estate related associations have sent a letter to the President asking his administration to address the new risks surrounding insurance on property that puts the industry in a tough position going forward because of the September 11 terrorist attacks and the current action in Afghanistan.
HERNDON, VA-Smith Corp. renews a 22,872-sf lease at Renaissance Park at Dulles, and Oce-USA Inc. renews its lease of 14,393 sf of office space at Courthouse Plaza, located at 2300 at Clarendon Blvd. in Arlington, VA.
WASHINGTON, DC-Delta Associates and Transwestern Commercial Services report that this particular submarket of apartment housing tends to depend on renters in those positions that may have been eliminated in the aftermath of the attacks, like the lodging and tourism industry. The firms see flat rent growth and a slight increase in vacancy rates going forward.
MCLEAN, VA-The subsidiary of St. Joe Company has added a new senior director and an associate. The pair brings more than 30 years of experience to the firm.
WASHINGTON, DC-Delta Associates and Transwestern Commercial Services report that this particular submarket of apartment housing tends to depend on renters in those positions that may have been eliminated in the aftermath of the attacks, like the lodging and tourism industry. The firms see flat rent growth and a slight increase in vacancy rates going forward.
BETHESDA, MD-The furniture store has acquired four properties with a total of 45 acres to construct a 340,000-sf facility. Construction is scheduled to begin in the spring of 2002, with the store opening in 2003.
DULLES, VA-Ground has been broken on a 105,400-sf, single-story building that will be part of an office park planned for 560,000 sf on a 57-acre parcel here.
WASHINGTON, DC-The District of Columbia Housing Authority will use the HOPE IV grant to replace aging public housing with 1,562 new units of rental and owned multifamily housing.
WASHINGTON, DC-In its quarterly survey, the National Multi Housing Council blames slowing economic conditions for a loosening in apartment markets nationwide, versus placing the blame squarely on fallout from the September 11 terrorist attacks.