Adrian Maties
National Air Force Museum Starts $35M Expansion at Wright-Patterson AFB
The museum’s entire collection occupies more than 17 acres of indoor exhibit space. But this huge area seems to not be enough. At the start of June, the museum broke ground on a fourth building to house aircraft from the Presidential, Research and Development (R&D) and Global Reach collection, as well as a new and expanded Space Gallery.
JV Buys Large Industrial Building and Development Site in Baltimore County
AEW Capital Management, a Boston-based privately owned real estate investment manager, has recently formed a joint venture with Redgate Capital Partners, a private equity real estate investment firm also headquartered in Bean Town, to acquire a large industrial building and a development site in Baltimore County. The price of the transaction was not disclosed. Cassidy Turley arranged the sale.
Devonshire REIT Buys Beachwood’s Pavilion Shopping Center for $35M
Devonshire REIT, Inc. announced on Monday, June 16, the addition of a new grocery-anchored power center to its 44-property portfolio. The real estate investment trust paid $35 million to acquire the Pavilion Shopping Center, located in the Cleveland suburb of Beachwood. Huntington Bank provided financing for the transaction.
Regency Centers Plans Kings Park Shopping Center Expansion
The Washington, D.C., retail sector is enjoying a good 2014. The steady job creation and strengthening sales activity have encouraged local retailers to expand. And Regency Centers, a national owner and developer of grocery-anchored shopping centers, is doing just that. The company announced on Monday, June 16, one of its shopping centers in Northern Virginia will be getting an updated facelift, enhanced common areas and structural expansion.
Akridge, Long Wharf Real Estate Partners Buy Alexandria Office Building
Akridge announced on Monday, June 16, that it has partnered with Long Wharf Real Estate Partners to reacquire the four-story office building at 2800 Eisenhower Avenue, in Alexandria’s Carlyle/Eisenhower Submarket. The price of the transaction was not disclosed.
Lingerfelt CommonWealth Buys Richmond Marriott West; Cavalier Hotel Joins National Register of Historic Places
It’s been busy month so far for the Virginia hotel market, with the City of Norfolk and Gold Key | PHR Hotels & Resorts recently starting work on a $126 million hotel/conference center project, and with the opening of the new Hilton Garden Inn Virginia Beach Oceanfront. Now, the spotlight falls on two more Virginia hotels.
TIAA-CREF Buys The Louis at 14th/U
Last summer, the Chevy Chase-based JBG Companies hired ARA Mid-Atlantic to find buyers for the Louis at 14th/U, a residential and retail development located in the heart of the U Street Corridor – Logan Circle neighborhood. Now, the property has a new owner. TIAA-CREF purchased the Northwest Washington, D.C., property at the start of June, for an undisclosed price.
7550 Wisconsin Ave. Gets Six New Tenants
Akridge and Rockwood Capital, LLC have announced this week the signing of six new tenants at their jointly owned property, 7550 Wisconsin Avenue, in Bethesda, Md. The building is now 65% occupied.
Cleveland Clinic, Select Medical to Build New Adult Inpatient Rehabilitation Hospital in Avon
The Cleveland Clinic has recently formed a joint venture with Select Medical, one of the nation’s largest providers of specialized acute and post-acute care. The two organizations plan to enhance inpatient rehabilitation services in Northeast Ohio and build a new 60-bed adult inpatient rehabilitation hospital in Avon.
New Key’s Pointe Residences Open in Baltimore, Part of O’Donnell Heights Revitalization
At the start of the month, the city of Baltimore celebrated the opening of the newly constructed Key’s Pointe Residences, the first phase of the O’Donnell Heights Revitalization project. Mayor Stephanie Rawlings-Blake was present at the ribbon-cutting ceremony together with Paul T. Graziano, Executive Director of the Housing Authority of Baltimore City, The Michaels Development Company, AHC-Greater Baltimore, Inc., and other elected officials and members of the community.