Midatlantic Regional News RSS

As Gov't Demand Buoys DC Office Market; ING Makes $73M Sale

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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.

ProLogis Inks Leases in Baltimore, Japan

Wed, 28 Oct 2009 13:04:59 UTC

Industrial REIT ProLogis has signed two separate lease agreements with tenants in Baltimore and Japan.

Transwestern Fund Inks Virginia Bank to 62,000-SF Office Lease

Wed, 28 Oct 2009 13:04:59 UTC

Aslan Realty Partners III L.L.C., a fund sponsored by TranswesternInvestment Co., has inked a five-year, 62,200-square-foot lease withBranch Banking & Trust Company of Virginia Inc.

JBS, Buvermo Nab $32M in Financing for D.C. Office

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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?

Wed, 28 Oct 2009 13:04:59 UTC

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.

Strong D.C. Fundamentals Help Attract $104M Office Financing

Wed, 28 Oct 2009 13:04:59 UTC

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

Wed, 28 Oct 2009 13:04:59 UTC

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.