Washington D.C.

KBS REIT III Snaps Up Second Northern Virginia Property in a Month

KBS Real Estate Investment Trust III has acquired another property in Northern Virginia. The Newport Beach, Calif.-based real estate investment trust recently said it purchased 100% of the Class A voting units of Clarendon Owners, LLC, the owner and ground lessee of Arlington’s 3003 Washington Boulevard, for $149.1 million plus closing costs. KBS also plans to redeem the 125 outstanding Class B units this month.

GSA Seeks Developers for New FBI HQ

The U.S. General Services Administration is looking for a developer to erect a new headquarters facility for the Federal Bureau of Investigation.

New DC United Stadium to Open in 2017

D.C. is one step closer to getting a new soccer stadium. Last week, the D.C. Council approved the District of Columbia Soccer Stadium Act of 2014 in its second and final vote, green lighting the development of a new 20,000-25,000-seat stadium for D.C. United, in the District’s Buzzard Point neighborhood.

CBRE Global Investors Funds 631-Unit Apartment Community in Metro Area

The Residences at Springfield Station, a Class A apartment community in the Washington, D.C., metro area, is now under new ownership. A fund sponsored by CBRE Global Investors has recently acquired the property for an undisclosed price.

Joint Venture Buys Capitol Riverfront Office Building

Houston-based Lionstone Investments and London-based Hermes Real Estate have recently purchased a Class A office building in the District’s Capitol Riverfront submarket, for an undisclosed price. This is the $250 million joint venture’s first investment.

Cathedral Commons Adds Seven New Retailers

The Bozzuto Group announced on Monday the signing of seven new retail tenants for its brand new Cathedral Commons mixed-use development, on Wisconsin Avenue, in Washington, D.C.

BioMed Realty Sells Rockville Property to GI Partners for $322.5M

In one of the largest commercial real estate transactions of the year, in the Washington, D.C. area, BioMed Realty Trust, Inc. sold its biological manufacturing facility at 9911 Belward Campus Drive, Rockville, for $322.5 million or $1,112 per square foot. San Francisco-based GI Partners purchased the property.

TRIA Reauthorization Fails in Senate

Christmas has certainly not come early for the commercial real estate industry as the Senate closed up shop for the year without passing a TRIA extension.

K2M Group Expands HQ, R&D Operations in Leesburg

Virginia Governor Terry McAuliffe announced on Friday, December 12, that K2M Group Holdings, Inc. will relocate to a larger facility. However, the global medical device company will not be leaving Leesburg.

KBS, Lionstone-Penzance JV Buy Northern Virginia Office Properties

Two Northern Virginia office buildings have changed hands this month. They are Reston Square, in Reston, and 4040 N. Fairfax Drive, in Ballston.