Columbia Equity Trust Inc., a Washington, D.C.-based
real estate trust bought the Patrick Henry Corporate
Center in Newport News for $14.5 million. The 99,000-squire-foot,
Class A building is 92 percent leased. Columbia also
bought the Oakton Corporate Center in Oakton
for $16 million. That 65,000-square-foot office building
is 100 percent leased. (Business Wire)
Douglas Development Corp. of
Washington, D.C. and partners in New York City bought
Richmond's James
Center office complex, from Faison Associates of
Charlotte, N.C. and CSX Corp. of Jacksonville, Fla.
for $185 million. The landmark three-building complex
in downtown Richmond has 987,000 square feet of space
and is 97 percent leased. (Richmond Times-Dispatch)
First Industrial Acquisitions Inc. of Middleton,
Pa. paid $7.1 million for the Thermo Electron Corp. building
in Frederick County. The 110,000-square-foot facility
was chosen as the temporary site for the FBI's records
management center. The agency is seeking a permanent
site in Frederick County for the center, which will
mean hundreds of jobs in the Winchester area. (The
Winchester Star)
First Potomac Realty Trust of Bethesda, Md.,
bought 1000 Lucas Way in Hampton. The two-building
property in the Hampton Roads Center Business Park
sold for $12.1 million in a cash transaction. (Business
Wire)
Highland Hospitality Corp., a lodging real
estate investment trust based in McLean, bought the
Churchill Hotel in Washington, D.C. The 144-room facility
was purchased for $48.7 million. (PR Newswire)
Regional Property Development Corp. of Charlotte,
N.C., announced plans for a business park on U.S. 460
in Suffolk that would include four warehouse buildings
totaling 1.1 million square feet. The development,
driven by expected cargo growth in the port of Hampton
Roads, would cost between $60 million to $70 million
and be on a 110-acre site west of the U.S. 58 bypass. (The
Virginian-Pilot)
Washington Real Estate Investment Trust of
Rockville, Md. acquired a 5.27-acre site in Herndon
as part of a 63-acre, mixed-use development project.
The site, just east of Dulles Airport, will be adjacent
to a stop on the planned extension of the Metro rail
system to Dulles Airport. (Business Wire)
