Mid-Atlantic
D.C. Law Firm Renews 335,240 SF Lease
The Washington Business Journal is reporting that law firm Wiley Rein LLP has renewed its 335,240 square-foot lease in Washington, D.C. It is the largest transaction thus far in 2010.
Interstate Hotels Goes Private in $307M Merger
The closing of a $307 million transaction has taken Interstate Hotels & Resorts to the private sector.
Investment Team of Cruz, O’Hearn Joins HFF New Jersey
With 32 years of commercial real estate experience between them, Jose Cruz and Kevin O’Hearn bring a bulwark of industry knowledge to Holliday Fenoglio Fowler New Jersey. The two join HFF from Cushman & Wakefield’s New Jersey investment sales group.
MGM Mirage to Bid Adieu to Atlantic City with Borgata Hotel & Casino Settlement
Atlantic City has not escaped the negative financial ramifications of the recession, but that has nothing to do with MGM Mirage’s plans to make its exit from the famous gaming town.
New Amsterdam Mixed-Use Property Changes Hands for $11.7M
The New Amsterdam, a 75,375 square-foot multifamily and retail property in Washington, D.C., has been sold for $11,750,000. That price represents $156 per square foot, or $130,556 per unit.
Sunburst Exits the Apartment Market with $85M Sale of Suburban D.C. Property
With the disposition of Vista on Courthouse, a 220-unit apartment building in Arlington, Va., Sunburst Hospitality has bid adieu to the apartment market.
Turner Wins $73M Government Contract for DC Office Building Transformation
Thanks to allotted funds from the American Recovery and Reinvestment Act of 2009, the government has maintained a steady stream of construction activity during the recession, and Turner Construction Co. is getting in on the game.
Sofitel in D.C. Changes Hands in $95M Deal
Prime opportunities in the commercial real estate market go well beyond the distressed property pool, as evidenced by LaSalle Hotel Properties’ recent all-cash acquisition of the unencumbered Hotel Sofitel Washington, DC Lafayette Square. The Bethesda, Md.-based REIT snapped up the 237-room luxury hotel for $95 million.
JBG Tapped to Develop $200M Research Campus for National Cancer Institute
Chevy Chase, Md.-based JBG Companies has been chosen to spearhead a new $200 million facility for the National Cancer Institute.
As Gov’t Demand Buoys DC Office Market; ING Makes $73M Sale
The Washington, D.C., office market may have reached a turning point in demand as the region experienced improved fundamentals last quarter—figures propelled by expanded demand for government office space. And if deals like the recent $73 million sale of an office building in Falls Church, Va., are any indication, buyers are taking interest in the area’s strong demographics..