Mid-Atlantic
Baltimore-Area Office Asset Completes First Sale
A joint venture between Feldman Bergin Development and Kenwood Management Co. acquired 1334 Ashton Road in Hanover, Md. for $2.3 million. The building is part of the Commons Corporate Center office park.
Overbuilding in Richmond?
With almost 20,000 units in the pipeline—more than a third of which are under construction—the metro is at risk of overbuilding. As new stock is putting a damper on growth, Yardi Matrix expects rents to rise by 3.5 percent in 2017.
River City Chosen for Spec Office Development
The Rebkee Co. and developer Serabi are in the early stages of a plan to raze an existing warehouse at 949 Myers St. If plans are approved by the city, a 63,800-square-foot, three-story office building will rise on the site of the former Interbake Foods property.
J Street Welcomes Industry Veteran
Mike Balaban joined the Washington, D.C.-based company as development executive. Previously, he headed Lowe Enterprises’ non-hospitality East Coast activities.
Amazon Web Services Creates 1.5K Jobs in VA
The cloud services division of Amazon.com will take over the 406,855-square-foot Class A building at 13200 Woodland Park Road in Herndon, Va. One Dulles Tower features 406,855 square feet of office, 3,500 square feet of retail and a 10,000-square-foot data center.
Columbia Property Trust Completes Renovations at DC Office Building
The 285,000-square-foot 80 M St. in Washington, D.C. underwent a $3 million renovation that brought the building’s occupancy level to 94 percent.
Greysteel Tapped to Market Del Ray Properties
The assets located at 2903 Mount Vernon Ave. and 104 Hume Ave. incorporate an existing commercial garage and an office building. Both sites are currently zoned for small scale retail and office uses.
Iconic Waterside District Opens in Virginia
Following a $40 million investment, The Cordish Cos. and the city of Norfolk opened the Waterside District. The property is located along the Elizabeth River in downtown Norfolk.
Covington Lands 800 KSF Industrial Portfolio
The Dallas-based company purchased a 500,625-square-foot warehouse and distribution facility in Columbus, Ohio, and a 300,000-square-foot facility in Baltimore. The buyer plans to make improvements to the buildings.
Monday Properties Closes $888M NoVa Refi
The financing includes a future funding facility that will provide significant capital to meet additional long-term strategic investments and support tenant needs.