Washington D.C.
WRIT Pockets $307M on First Phase of MOB Portfolio Sale
In two separate transactions with Harrison Street Real Estate Capital, Washington Real Estate Investment Trust closed the sale of office buildings totaling 877,000 square feet, two office assets featuring significant medical office tenancy and a parcel of land for $307.2 million.
Deutsche Asset & Wealth Management Achieves LEED V4 Certification in DC Office Building
The 224,000-square-foot 1800 K St. office building, owned by Deutsche Asset & Wealth Management, managed by Transwestern, is the first building in the world to earn certification through the new, more stringent LEED v4 Operations and Maintenance: Existing Building rating system.
Tanger Outlets National Harbor Finally Open
Shoppers in the Washington, D.C. metro area now have a new retail destination, just in time for the holiday season. On Friday, November 22, Tanger Outlets National Harbor celebrated its grand opening. It will feature 80 popular brand name and designer outlet stores.
Starwood Wraps Up $1.6B Mall Portfolio Purchase
Starwood Capital Group has just completed its second major portfolio purchase from Westfield Group, snapping up seven regional malls in the West and Midwest for just over $1.6 billion.
Walton Enters into Agreement with NVR to Build Homes at Westphalia Town Center
The Walton Group of Companies broke ground earlier this year on the massive Westphalia Town Center in Upper Marlboro, Maryland. Now, the Canadian developer has signed Reston-based NVR, Inc. as the first residential homebuilder for the the master planned, mixed-use community.
Inland, MAB Launch $325M Retail Development Plan for Southeast
The joint venture’s five-year development plan will target demographically strong metropolitan areas in the Carolinas, Georgia, Florida, Virginia and Washington, D.C., and is expected to result in the construction of as many as 20 new grocery-anchored shopping centers.
DC Metro Area Attracts Steady Pace of Office Investment Sales
In recent months, an important number of office properties changed hands in the Washington, D.C. area. There have been a lot of big transactions (Read about some of them here and here) and even some huge transactions(You can find some of them here, here, here and here), but, according to a report by Marcus&Millichap, over the past year, investors have been more interested in purchasing properties worth between $1 million and $10 million.
ULI Special Report: DC Falls in Investors’ Eyes
The 2014 Emerging Trends in Real Estate report contained few surprises, but traditionally durable Washington, D.C.’s drop to No. 22 in the ranking of cities with the best investment activity speaks volumes about the uncertainty the federal government has produced.
Avison Young Expands in Metro DC with McShea Acquisition
Toronto-headquartered Avison Young’s aggressive, methodical growth plan continues as the CRE services firm increases its footprint in metropolitan Washington, D.C., with the acquisition of McShea & Co.
Alexandria’s Virginia Village Sold for $68M
Another apartment community in the Washington Metro area, one of the best apartment markets in the nation, has changed hands in a multi-million dollar deal. Fieldstone Properties has paid $68 million for Virginia Village, in Alexandria, Virginia.