Washington D.C.
St. John Properties Pays $11.7M for Three OfficeFlex Buildings in Sterling
St. John Properties, Inc. has recently acquired a three-building office/flex portfolio in Sterling. The company paid $11.65 million to buy the properties from an affiliate of Lone Star Funds. With this acquisition, St. John’s Northern Virginia portfolio now includes more than 570,000 square feet of office and flex space and about 83 acres of land for future developments.
Smithsonian Unveils Plans for $2B South Mall Campus Renovation
By Adrian Maties, Associate Editor The Smithsoninan plans to renovate its South Mall campus. Last week, the institution unveiled a $2 billion master plan to revitalize the museums and gardens along Independence Avenue S.W., from Seventh to 12th streets. Denmark-based Bjarke Ingels Group, a noted international architectural firm, was hired to design the plan. It […]
Empty Nesters and Millennials Drive Urban and Suburban D.C. Multifamily Market
The greater Washington D.C. area has more than 30,000 apartment units coming online, scaring some institutional investors.
Federal Realty Investment Trust to Start Work on Phase II of Pike & Rose
Federal Realty Investment Trust announced at the end of October its plans to soon start work on Phase II of Pike & Rose, a new, pedestrian-oriented, mixed-use neighborhood in Montgomery County. On Tuesday, November 18, the company will hold a ribbon cutting ceremony to celebrate the official grand opening of Phase I and to mark the start of Phase II.
Three Class A Office Buildings in Northern Virginia Change Hands
Three more Northern Virginia Class A office buildings have recently changed hands. The properties are located in Reston and Herndon.
Insight Property Group Opens 240-Unit Shelby Apartment Community in Alexandria
Insight Property Group has added another apartment community to the Washington, D.C. metro area. It’s called The Shelby and it features 240 luxury residences.
Hoffman-Madison Waterfront Opens Commercial Leasing at $2B Wharf Waterfront Development
Hoffman-Madison Waterfront, the developers of the $2 billion, world-class Wharf waterfront community in Southwest Washington, D.C., announced announced last week that leasing is now open for two of the office buildings included in Phase One of the development. Cushman & Wakefield has been selected to lease and manage the properties.
Kettler Sells 233-Unit Luxury M-F Property in DC for $112M
Two years ago, Kettler kicked-off construction of the $80 million luxury apartment community at 450 K St. NW in Washington, D.C., and now the company has completed the development of the 233-residence mixed-use project and sold it to Ogden CAP Properties for $106 million.
Bozzuto, Partners Break Ground on Arlington’s Union on Queen
The Bozzuto Group has started work on another apartment project in the Washington, D.C. area. It’s called Union on Queen and it is a public-private partnership between Bozzuto, the 40-year old non-profit developer Wesley Housing Development Corporation, Arlington County, Capital One Bank, Hudson Housing Capital, Walker & Dunlop, and The Virginia Housing Development Authority.
Capitol Technology University Breaks Ground On Residence Hall in Laurel
On October 22, Capitol Technology University, formerly know as Capitol College, broke ground on a new residence complex located on the school’s 52-acre campus in Laurel. When finished, it will house 300 undergraduate students.