Regions Mid-Atlantic
As Gov’t Demand Buoys DC Office Market; ING Makes $73M Sale
Oct 06, 2009
The Washington, D.C., office market may have reached a turning point in
demand as the region experienced improved fundamentals last
quarter—figures propelled by expanded demand for government office
space. And if deals like the recent $73 million sale of an office
building in Falls Church, Va., are any indication, buyers are taking
interest in the area’s strong demographics..
$49M Exxon Deal a Rarity in Quiet Seal-Leaseback Market
Sep 30, 2009
A convenient method for property owners to secure a quick cash
infusion, sale-leaseback transactions were plentiful just a couple of
years ago, but now it is usually only the more financially burdened of
sellers that resort to accepting lowball sale-leaseback offers. Whether
White Oak Petroleum L.L.C. falls into the aforementioned category is
unclear, but the Springfield, Va.-based company just sold 36 Exxon
gasoline station and convenience store properties for $49 million in a
sale-leaseback transaction with Jericho, N.Y.-based Getty Realty Corp.
JV Snags 308-Unit Philly-Area M-F Complex
Sep 22, 2009
A joint venture between Behringer Harvard REIT I Inc. and PGGM Private
Real Estate Fund has acquired a 308-unit multi-family community in
Cherry Hill, N.J., about seven miles east of central Philadelphia.
JV Makes $25M Virginia Retail Play
Jul 16, 2009
A joint venture between Spectrum Partners L.L.C., Alex. Brown Realty
Inc. and Potomac Capital Advisors, has acquired Westgate Plaza Shopping
Center in Manassas, Va., for $25 million from Principal Real Estate
Investors.
Baltimore Office Market Primed to Bounce Back Quickly Upon Economic Turnaround
Jul 07, 2009
Not a single office market has been spared from the ravages of the
cruel demise of the economy, but Baltimore, unlike most other
metropolitan areas, is in a position to get back on its feet right on
the heels of the highly anticipated economic turnaround, according to a
Cushman & Wakefield Inc. second-quarter report.
Angling to Capitalize on Future Apartment Market Changes, Industry Vets Form New Firm
Jun 24, 2009
The apartment market held up relatively well during the early stages of the economy's descent--but even it is now in decline. And while many investors are shying away, industry veterans Jim Butz and Greg Lamb are jumping in with both feet. The two former principals of leading multi-family developer JPI East have teamed with office and mixed-use developer Akridge to launch Jefferson Apartment Group with the intention of acquiring--and eventually--developing apartment properties in the Mid-Atlantic and Northeast regions.
JBS, Buvermo Nab $32M in Financing for D.C. Office
May 21, 2009
The JBG Cos. and Buvermo Properties Inc. have secured $32 million in financing for One Choke Cherry, a Class A office building fully-leased to the Government Services Administration in North Rockville, Md.
Despite Economy'sRumblings, Philadelphia Looking Up
May 15, 2009
Consider the next few months a window of opportunity. That was the message delivered by Joel Naroff, chief economist for TD Bank N.A. and president of Naroff Economic Advisors, speaking on the opening panel of CPN’s Hidden Opportunities conference in Phialdephia on Wednesday.
Strong D.C. Fundamentals Help Attract $104M Office Financing
May 14, 2009
Washington, D.C., is feeling the effects of the economic slump, but the area office market remains attractive enough to help reel in lenders willing to part with the big bucks. Perseus Realty L.L.C., with the assistance of affiliate Perseus Realty Capital L.L.C., has obtained $103.5 million in financing for its 309,500-square-foot Class A office property at 1110 Vermont Ave. N.W. in D.C.'s Central Business District.
Philadelphia: Soon to be America's Greenest City?
May 14, 2009
If Philadelphia mayor Michael Nutter meets his goal, the City of Brotherly Love could soon be called the City of Sustainability instead. He plans to make the nation’s first capital the greenest city in America. And he has set out 15 targets to achieve that goal by 2015, before his term is up.
Orlando Office Market Struggling to Stay Even
Oct 13, 2008
Mounting concerns surrounding the health of the economy, meshed with
sluggish employment growth, continue to drag down markets across the
country. Orlando’s office market--although somewhat buoyed by
employment growth experienced in the hospitality and tourism
sectors--is no exception.
Philadephia
JV Snags 308-Unit Philly-Area M-F Complex
Sep 22, 2009
A joint venture between Behringer Harvard REIT I Inc. and PGGM Private
Real Estate Fund has acquired a 308-unit multi-family community in
Cherry Hill, N.J., about seven miles east of central Philadelphia.
Philly Shopping Center Lands $17M in Financing
Jun 24, 2009
The New Jersey office of Holliday Fenoglio Fowler L.P. has secured $17
million in financing for Columbus Crossing, a 142,000-square-foot,
grocery-anchored shopping center in Philadelphia.
Despite Economy'sRumblings, Philadelphia Looking Up
May 15, 2009
Consider the next few months a window of opportunity. That was the message delivered by Joel Naroff, chief economist for TD Bank N.A. and president of Naroff Economic Advisors, speaking on the opening panel of CPN’s Hidden Opportunities conference in Phialdephia on Wednesday.
Philadelphia: Soon to be America's Greenest City?
May 14, 2009
If Philadelphia mayor Michael Nutter meets his goal, the City of Brotherly Love could soon be called the City of Sustainability instead. He plans to make the nation’s first capital the greenest city in America. And he has set out 15 targets to achieve that goal by 2015, before his term is up.
Washington DC
As Gov’t Demand Buoys DC Office Market; ING Makes $73M Sale
Oct 06, 2009
The Washington, D.C., office market may have reached a turning point in
demand as the region experienced improved fundamentals last
quarter—figures propelled by expanded demand for government office
space. And if deals like the recent $73 million sale of an office
building in Falls Church, Va., are any indication, buyers are taking
interest in the area’s strong demographics..
$49M Exxon Deal a Rarity in Quiet Seal-Leaseback Market
Sep 30, 2009
A convenient method for property owners to secure a quick cash
infusion, sale-leaseback transactions were plentiful just a couple of
years ago, but now it is usually only the more financially burdened of
sellers that resort to accepting lowball sale-leaseback offers. Whether
White Oak Petroleum L.L.C. falls into the aforementioned category is
unclear, but the Springfield, Va.-based company just sold 36 Exxon
gasoline station and convenience store properties for $49 million in a
sale-leaseback transaction with Jericho, N.Y.-based Getty Realty Corp.
Anticipating Demand for Mixed-Use, DC Selects Team for 510,000SF School Redevelopment Project
Sep 16, 2009
The real estate sector in Washington, D.C., has suffered blows from the
economic downturn and credit crunch just as other major cities have,
but that is not preventing District officials from making plans to
capitalize on widely anticipated demand down the road. The city has
just chosen a team involving Stanton Development Corp. and EastBanc
Inc. to spearhead the redevelopment of the former Hine Junior High
School in the Capitol Hill Historic District into a 510,000-square-foot
mixed-use destination.
$208M DC Office Buy Not a Shock Despite Industry Malaise
Sep 03, 2009
In Washington, D.C.--which was named the best urban real estate market
in the world by the likes of the Association of Foreign
Investors--Germany-based DekaBank Group’s recent $207.8 million
acquisition of the newly developed 250,000-square-foot 1999 K Street
office building came as little surprise to many, even given the slow
investment market nationwide.
Expected Job Growth Major Lure in $57M DC Office Sale
Aug 20, 2009
With the current and impending creation of jobs in the Greater
Washington, D.C., area, the demand for apartment properties is still
relatively strong, so the bevy of hopeful buyers that emerged for the
364-unit Post Forest rental community in Fairfax, Va., came as no
surprise to Holliday Fenoglio Fowler, which represented seller Post
Properties Inc. in the transaction. Pantzer Properties emerged
victorious, shelling out $57.5 million for the nearly fully occupied
complex that came with absolutely no debt attached to it.
Cassidy & Pinkard Wins 72,100SF Reston Leasing Contract
Jul 31, 2009
Cassidy & Pinkard Colliers has been selected by The Bernstein Cos.
to provide exclusive marketing and leasing services for 12220 Sunrise
Valley Drive, a 72,100-square-foot office building in Reston Sunrise
Park in Reston, Va.
DC Office Market Sees Absorption for Third Straight Quarter
Jul 06, 2009
The Washington, D.C., metropolitan area experienced negative overall
net absorption for the third consecutive quarter, according to a report
by Cassidy & Pinkard Colliers, but there are some signs that the
market may be at or near a bottom.
With Fannie, Freddie Still Active, DC-Area Portfolio Fetches $79M in Financing
Jun 30, 2009
Throughout the credit crisis and their own internal financial trials,government-sponsored enterprises Fannie Mae and Freddie Mac have continued to steadily dole out loans in the multi-family market, and The Cafritz Cos. is among the latest firms to take advantage of the entities' willingness to lend. Cafritz has just secured $79.2million in permanent financing for a five-property portfolio in Metropolitan Washington, D.C., relying on Fannie Mae's multi-family lending programthrough M&T Realty Capital Corp.
JBS, Buvermo Nab $32M in Financing for D.C. Office
May 21, 2009
The JBG Cos. and Buvermo Properties Inc. have secured $32 million in financing for One Choke Cherry, a Class A office building fully-leased to the Government Services Administration in North Rockville, Md.
Strong D.C. Fundamentals Help Attract $104M Office Financing
May 14, 2009
Washington, D.C., is feeling the effects of the economic slump, but the area office market remains attractive enough to help reel in lenders willing to part with the big bucks. Perseus Realty L.L.C., with the assistance of affiliate Perseus Realty Capital L.L.C., has obtained $103.5 million in financing for its 309,500-square-foot Class A office property at 1110 Vermont Ave. N.W. in D.C.'s Central Business District.
Orlando Office Market Struggling to Stay Even
Oct 13, 2008
Mounting concerns surrounding the health of the economy, meshed with
sluggish employment growth, continue to drag down markets across the
country. Orlando’s office market--although somewhat buoyed by
employment growth experienced in the hospitality and tourism
sectors--is no exception.
Mid-Atlantic Commercial Property Developments
CPN is the best resource for covering the commercial real estate sector. From the latest commercial mortgage options to complete breakdowns of the most recent commercial developments,
the industry pros look to CPN. Complete Mid-Atlantic commercial
property developments covered every month at CPN, and updated each
month online!
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