WASHINGTON, DC-Post Properties broke ground on Wednesday on a $76-million, 15-story luxury apartment building located in the Northwest section. Construction should be complete by the end of next year.
LAUREL, MD-Dynamic Designs Enterprises, a clothing manufacturer and wholesaler, has leased 17,538 sf in the third Whiskey Bottom Trade Center building, slated for completion next month by developer Gingery Development Group.
MCLEAN, VA-Because the Islamic faith prohibits the payment of interest, Freddie Mac has invested $1 million in a new finance model created to meet needs of banking regulations and religion.
WASHINGTON, DC-Edens & Avant, parent company of Necessity Retail which owns a dozen grocery-anchored shopping centers in Delaware, Virginia and Maryland, adds a new local representative to its Mid-Atlantic office.
WASHINGTON, DC-In another survey aimed at showing the dangers of allowing banks to enter real estate, the NAR says the proposal has four out of five homeowners worried about their privacy. Congress will hold a hearing on the proposal next week.
ANNAPOLIS, MD-Construction on the largest speculative office building to be developed here in the past decade will begin in May at 888 Best Gate Rd., according to developer MIE Properties, Inc.
GAITHERSBURG, MD-Construction has begun on Washingtonian Two, a mid-rise, 285,000-sf office tower. According to the building's owner/developer, Marriott International has already committed to a 15-year lease on the entire building.
WASHINGTON, DC-The vacant 76-year-old office building, part of the estate of local developer Marshall Coyne, is slated for a total renovation--including getting a tonier new Pennsylvania Avenue address.
WASHINGTON, DC-Cutting the depreciable life of tenant improvements from 39 to 10 years makes economic sense, according to the national trade association for REITs. The legislation is now before a Congressional committee.
WASHINGTON, DC-The companies blame the slipping economy for their decision, according to company officials who say they haven't been able to finalize the capital transactions necessary to consummate the deal.