Washington D.C.
Finmarc Management Sells Library of Congress-Occupied Property
Finmarc Management, Inc. has been very busy in the Washington D.C. area this February. The Bethesda-based commercial real estate firm started the month with an over $30 million acquisition and ended it with an over $30 million sale.
Executive Insights: Alexandra Johns
Alexandra Johns, who was recently hired by the Resmark Cos. to lead its Washington, D.C., office, chats with CPE about her company’s plans in the new region.
JV Plans Mixed-Use Apartment Community for Tysons Corner
By Adrian Maties, Associate Editor The apartment construction boom that that hit the Washington, D.C., metropolitan area is showing no signs of slowing down. If anything, it looks like it’s getting stronger, as developers announce more and more projects with almost every passing week. On Feb. 14, a joint venture between Kettler and PS Business […]
Montgomery County Council Approves Zoning for Clarksburg Premium Outlets at Cabin Branch
A large retail development in Clarksburg, Md., has taken another important step towards it becoming a reality. On Tuesday, February 4th, the Montgomery County Council voted almost unanimously to support the development of Clarksburg Premium Outlets at Cabin Branch. It will be the county’s first fashion outlet center. Eight council members were for the project, while one abstained.
Harrison Street Awards C&W 1.5 MSF, $500M Med Office Portfolio
Harrison Street Real Estate Capital has chosen Cushman & Wakefield as the exclusive property management contract for its $500 million¸1.5 million-square-foot medical office portfolio.
Resmark to Bring Luxury Condos to Washington Area
The Resmark Companies is working hard to bring luxury condos to the Washington D.C. area. The Los Angeles- based full-service real estate investment advisor has partnered with two local developers to develop two different projects in downtown Bethesda and the desirable Dupont Circle neighborhood.
Lerner Starts Vertical Construction of State-of-the-Art Office Tower in Tysons Corner
Lerner Enterprises announced last week it started construction on 1775 Tysons Boulevard, an 18-story state-of-the-art office tower in Tysons Corner. The project is expected to be completed in late 2015. It will be the fifth premier office tower within The Corporate Office Centre at Tysons II master planned development.
Two More D.C.-Area Office Properties Change Hands
Office properties in the Washington, D.C. area continue to attract interest from investors. Last week, I wrote about the acquisition of the Thurman Arnold Building by a MetLife Inc. and Norges Bank Investment Management joint venture, in the first major commercial real estate sale of the year. Two more office buildings have since then changed hands.
DC’s L’Enfant Plaza Hotel to Undergo Renovation after Acquisition by Hotel Group
The new owners of the L’Enfant Plaza Hotel, an iconic luxury hotel in Washington, D.C., said this week the 372-key property is closed and will be undergoing a major renovation, expected to be completed sometime next year.
MetLife, Norges Bank Buy D.C. Trophy Office Building in First Major Transaction of 2014
A month after announcing the birth of their joint venture, MetLife, Inc. and Norges Bank Investment Management (NBIM), a Norwegian pension fund manager, have made public the names of their second and third investments. One of the properties is located in downtown Washington, D.C. and is one of the city’s largest office buildings.