Regions Midatlantic | Washington DC
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.
Perseus Nets $103M Refi for D.C. Office
May 13, 2009
Perseus Realty L.L.C. has secured $103.5 million in financing for 1110 Vermont Avenue NW, a 309,000-square-foot Class A office building in Washington, D.C.
Amid Uncertainty, $129M D.C. Apartment Project Tops Out
May 07, 2009
In the midst of a somewhat gloomy outlook for the Washington, D.C.-area multi-family market, developer Kittler has topped off a $129 million luxury apartment property. Dubbed The Millenium at Metropolitan Park, the project will open later this year to a market that has been affected by the economic slowdown, but will be somewhat bolsetered by job creation stemming from the federal government's expansion efforts.
Government-Sustained D.C. Office Market Attracts Bevy of Bidders for Fully Leased Building
April 30, 2009
The Washington, D.C., office market, has taken its blows like every other city, but with the federal government's consistent need to house employees, office buildings that are fully leased by the feds are hot property. With solid demographics in play, a slew of hopeful buyers came out to look at the 228,000-square-foot One Choke Cherry office property in Rockville, Md., and The JBG Cos. came through with the winning bid of $43.5 million.
Report: Recession Hits D.C. Office Market
April 03, 2009
As the country struggles in the midst of an economic downturn, Washington, D.C., with its large governmental employment sector, has thus far managed somewhat better than most cities. But according to a new report by Cassidy & Pinkard Colliers, the area market is starting to feel some pains.
Uninterrupted by Credit Crunch, Army's $1B Office Project Kicks Off
April 02, 2009
While office projects fall off drawing boards across the country, scrapped as a result of the frozen credit market and dwindling demand, Indianapolis-based Duke Realty Corp. is not experiencing any hitches with plans for the development of the U.S. Department of Defense's 1.7 million-square-foot office complex in the suburban Washington, D.C., town of Alexandria, Va. Duke has just broken ground on the $1 billion project and is on target to complete construction in September 2011, as originally scheduled.
TIAA-CREF Renews Tenant for 73,200 SF in DC
March 20, 2009
TIAA-CREF has renewed the 73,200-square-foot lease of the Investment Company Institute at 1401 H Street, a 351,000-square-foot office building in the East End submarket of Washington, D.C.
Plagued by Loss, Greenbrier Files for Chapter 11, Pursues $130M Sale to Marriott
March 20, 2009
Ghastly economic conditions have claimed another victim in the hospitality industry. The Greenbrier Hotel Corp., owner of the historic Greenbrier resort in White Sulphur Springs, Va., has just filed for Chapter 11 bankruptcy protection and entered into an asset purchase agreement for Marriott Hotel Services Inc. to acquire the luxury property for $60 million to $130 million, to be paid within a seven-year period.
Stimulus to Bring New Government Jobs, Office Space Demand to D.C.
March 16, 2009
Before the real estate market took a plunge, Washington, D.C., consistently ranked among the top tightest office markets in the country. In the last 18 months, vacancy rates have headed south, but with the District of Columbia being home to a plethora of government agencies that will get a boost from the government's stimulus package, the area is due to sprout a bevy of new jobs over the next decade. And as noted in a recent report by real estate services firm Cassidy & Pinkard Colliers, with those new jobs will come new employees, who will need new places to work.
Spitzer’s $180M D.C. Buy Offers Glimpse of the Future
March 09, 2009
Last week’s $180 million sale of a Washington, D.C., office building made national headlines because Eliot Spitzer worked on the deal. But the trade was more noteworthy for what it says about things to come in commercial real estate investment.
D.C. Investors Say City has Advantages, but Not Immune to Economic Crisis
Feb. 17, 2009
With its large governmental employment sector, Washington, D.C., is likely to fare better than many other cities as the U.S. fights the worst economic downturn in a decade, but the city is not impervious to the effects of the economic slowdown. That was the conclusion of investors who convened for the annual Transwestern-Commercial Property News Investor Roundtable, held last Thursday in Washington, D.C.
Under Construction
Feb. 01, 2009
Washington, D.C., has turned off its development spigot, but projects already in the pipeline continue to move forward. Trammell Crow Co. managing director Tom Finan estimated that 10 million square feet of office projects are under construction and that very little has thus been stopped, despite the fact that pre-leasing is down from the 60 to 70 percent of a few years ago to 33 percent today.
Washington REIT Closes on $181M D.C. Acquisition
Dec. 04, 2008
Nearly six months after announcing a pending agreement, Washington Real Estate Investment Trust has closed on the acquisition of 2445 M Street, a Class A, nine-story, 290,000-square-foot office building in Washington, D.C., for $181.4 million.
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