Washington D.C.
Investors Plan Class A Office on Greyhound Site, Turn Century-Old Buildings into Condos
By Veronica Grecu, Associate Editor First Potomac Realty Trust and Perseus Realty L.L.C. purchased the Greyhound Bus Terminal site at 1005 First St., N.E., in Washington, D.C., for approximately $46.8 million. The joint venture plans to develop 712,000 square feet of [...]…
Continue reading →Principal Takes NoMa Office Building for $149.5M; Kelley Drye Extends Lease in Georgetown
By Veronica Grecu, Associate Editor Underscoring the continued strength of the capital’s office investment market, Capitol Plaza has traded to Principal Real Estate Investors L.L.C for $149.5 million, the property’s sellers, a joint venture of AREA Property partners L.P. and Van [...]…
Continue reading →Anacostia RiverFront Gets More Apartments; Clint Eastwood Raises Funds for Police Museum
By Veronica Grecu, Associate Editor Patriot Transportation Holding Inc., which owns the Florida Rock site in Washington, D.C., plans to form a joint venture with MidAtlantic Realty Partners L.L.C. to develop the first phase of the mixed-use RiverFront project on the [...]…
Continue reading →Howard University to Expand Housing Facilities; LEED Gold Offices for TMG
By Veronica Grecu, Associate Editor Howard University may be forced to upgrade its housing to stay competitive in the D.C. marketplace. The university’s residence halls are currently able to accommodate less than 50 percent of its enrolled students, while competing schools [...]…
Continue reading →Mixed-Use Property Trades; H Street Reconstruction Project Reaches Completion
By Veronica Grecu, Associate Editor UDR Inc. made headlines last week with the purchase of View 14, a mixed-use property located at 2303 14th St., N.W., in the Uptown submarket of Washington, D.C. The big national REIT paid a historic $104 million, [...]…
Continue reading →Office Prices Escalate as Vacancies Fall, Rents Rise
By Veronica Grecu, Associate Editor Office prices in the Washington, D.C., area rose as a result of low vacancy rates and increased rents in the first quarter of 2011, according to Reuters. The District is also attracting global investors striving to [...]…
Continue reading →Is Sears Considering Relocation to Washington Area?
By Veronica Grecu, Associate Editor Sears Holding Corp. is seeking a new corporate headquarters location, and Washington, D.C., might be on the list, according to sources quoted by The Washington Post, which said the nation’s capital is attractive because of its favorable [...]…
Continue reading →Apartment Development Spree Could Drive Up Rents–or Lead to Overbuilding
By Veronica Grecu, Associate Editor A recent report from research firm Delta Associates observed that Washington, D.C., has been enjoying an amazing construction spree. According to the report, builders raised 4,400 new units in the District in the second half of [...]…
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