Market Information
DC Commercial Real Estate News
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Peterson Cos. Acquires Position In Rock Spring Centre
February 22, 2012, 20 hours ago
| Randyl Drummer <news@costar.com>
Northern Virginia-based developer The Peterson Cos. has acquired a stake in Rock Spring Centre, a $320 million, 1 million-square-foot mixed-use center on 53 acres just off Interstate 270 and 495 in Bethesda, MD. The Peterson Cos., developer of the National Harbor project, plans to begin work on the long-delayed town center development with Arlington, VA-based partner DRI Development Services LLC later this year, according to the Washington Post...
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Real Money: More Capital Expected To Flow to CRE
February 22, 2012, 20 hours ago
| Mark Heschmeyer <news@costar.com>
A number of lenders see more capital coming back into commercial real estate in 2012 in much greater volumes and across multiple lending sources. All of the 20 institutional lenders with whom Jones Lang LaSalle met with during last week?s Mortgage Bankers Association conference in Atlanta indicated a stronger appetite or allocation for placing commercial real estate mortgages in 2012. Jones Lang LaSalle also partnered with Penton Media Research...
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Insight Property/Nova-Habitat JV Plans $75M Apt. Complex in Silver Spring
February 21, 2012, 8:49:00 PM
| Christa Sterling <news@costar.com>
A joint venture of Insight Property Group and Nova-Habitat Inc. purchased 8616 2nd Avenue, a 14,098-square-foot facility that served as a U.S. Post Office. The new owners plan to develop a 310-unit apartment building as part of a $75 million project. Ground breaking is slated for the fourth quarter of this year. The property is located in the central business district of Silver Spring, MD, and contains approximately 1.75 acres of land with about...
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TIAA-CREF Buys Shops at Wisconsin Place
February 21, 2012, 3:35:09 AM
| Jared Cobert <news@costar.com>
Leading institutional investor TIAA-CREF acquired 118,400 square feet of retail space within The Shops at Wisconsin Place in Chevy Chase, MD, from New England Development for $113.25 million, or about $956 per square foot. The sale did not include the approximately 180,000 square feet occupied by Bloomingdales or the Class A office tower or luxury apartment components of the mixed-use property. The high-end retail component of the mixed-use...
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February 2012 Commercial Repeat Sales Analysis Now Available
February 20, 2012, 12:05:00 AM
| CoStar Staff <news@costar.com>
CoStar Group released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI) last week, providing the market's first look at commercial real estate pricing trends based on property sales that closed through December 2011, and offering the broadest measure of commercial real estate repeat sales activity. The National Composite Index of commercial real estate prices ended the fourth quarter of 2011 relatively flat with December...
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Farragut Building Earns LEED Gold
February 19, 2012, 9:16:12 PM
| Richard Collins <news@costar.com>
Cassidy Turley Commercial Real Estate earned the U.S. Green Building Council's (USGBC) rating of LEED Gold and was verified by the Green Building Certification Institute for the office building it manages at 900 17th St. in Washington, DC. The 12-story, 146,981-square-foot building was constructed in 1963 and occupies a prominent corner of 17th and Eye Streets in the city's CBD. Major tenants include Energy Solutions and McLarty Associates. Sustainable...
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CoStar's People of Note (Feb. 12-18)
February 16, 2012, 9:39:39 PM
| Laurie Forbes <news@costar.com>
This week's People of Note includes the following markets: Atlanta, Charlotte, Dallas, Houston, National, New York City, Orlando, Phoenix, Portland, San Francisco, Tampa/St. Petersburg, Tucson and Washington, DC. WASHINGTON, DC Avison Young Expands Corporate Services Team in DC By Chris Crouse Industry veterans Bruce McNair (pictured far left) and Bill Morris (left) lead an eight-person team that has joined Avison
