Washington D.C.
Hyatt Hotels Sells Park Hyatt Washington for $100M
Just weeks after announcing the sale of a 38-property portfolio to Lone Star Funds for about $590 million, Hyatt Hotels Corporation has completed another important transaction. At the start of the month, the company sold the Park Hyatt Washington to a joint venture comprised of Westmont Hospitality Group and Thomas Tan, for about $100 million or $463,000 per room.
$200M Monroe Street Market Mixed-Use Development Now Open in Washington, D.C.
Monroe Street Market, a $200 million mixed-use project developed by The Bozzuto Group, Abdo Development, and The Catholic University of America in the Brookland neighborhood of Northeast D.C. finally opened its gates to the public at the start of the month.
Prince William County Now Home to More Than 2 MSF of Data Center Space
Prince William County announced at the end of September it has more than 2 million square feet of data center space. This important achievement is a result of the successful completion of 20 economic development projects with a total investment of $3.6 billion. Together, these projects have created 653 new highly-paid and highly-skilled jobs.
WRIT Buys DC’s Spring Valley Retail Center for $40.5M
By Adrian Maties, Associate Editor Washington Real Estate Investment Trust has completed its fourth consecutive acquisition in 2014. At the start of October, WRIT announced the off-market acquisition of Spring Valley Retail Center for $40.5 million. So far this year, the real estate investment trust has invested approximately $300 million. The Spring Valley Retail Center […]
The Bozzuto Group Relocates to New Corporate Headquarters, Remains in Prince George’s County
On Wednesday, October 1, The Bozzuto Group celebrated the relocation of its corporate headquarters to 6406 Ivy Lane, in Greenbelt. Company officials and employees, business associates and Prince George’s County leaders were present at the ribbon cutting ceremony.
MRP, Rockpoint Unveil Newly Renovated Bethesda Crossing Office Complex
On Tuesday, September 30, MRP Realty and Rockpoint Group, LLC unveiled the newly renovated Bethesda Crossing. The two companies purchased the office building in January 2013 and, since then, have invested almost $30 million to renovate it.
Donohoe, MetLife Start Construction on Gallery Capitol Riverfront Residential Tower
The Donohoe Companies and MetLife, Inc. have teamed up to bring more apartments to Washington, D.C. Last week, the two companies officially started construction on a new residential development, at 1111 New Jersey Avenue, SE, atop the Navy Yard-Ballpark Metro station. Called the Gallery Capitol Riverfront, it is scheduled for completion in the summer of 2016.
More Data Centers Coming to Ashburn
Ashburn’s Data Center Alley is growing. Just last week, DuPont Fabros Technology Inc. officially opened its newest facility in the region. Called ACC7, it is one of the largest multi-tenant data centers in North America and the largest in DFT’s portfolio.
Historic Capitol Hill Landmark Property to Become Modern Residences
One of the oldest structures in Washington, D.C. will soon turn into the city’s newest condominium residence. The Maples was constructed in 1795 in the heart of Capitol Hill. By the end of the year, it will be a brand new community of modern flats, duplexes and townhomes.
Livability.com Ranks Arlington Third Best Place to Live
Arlington is one of the best places to live in the United States. The Northern Virginia community occupies third place in Livability.com’s second-annual ranking of the best small to mid-sized cities in the country, behind only Madison, Wisconsin, and Rochester, Minnesota.