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Commercial Real Estate >> In Brief June 2009

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AWARD — Studley’s Washington office won several awards from the Greater Washington Association of Realtors for negotiating some of the top sales and leasing deals in the metropolitan area in 2008. Among them was Sales Transaction of the Year. The commercial real estate services firm was recognized for representing National Public Radio in the acquisition for a new headquarters and the sale/leaseback of its old headquarters. The association also selected Studley Executive Vice President Thomas Fulcher as the 2008 Broker of the year.

SALES — New York real estate developer Bernard Spitzer and his son, former New York Gov. Eliot Spitzer, recently purchased a 13-story, 418,000-square-foot Washington, D.C., office building at 1615 L St. NW for $180 million. The Spitzers bought the building from an affiliate of Broadway Partners, a New-York-based private equity firm. Broadway bought the building in 2006 for $209 million, according to published sources. The office tower is just around the corner from the Mayflower Hotel, the site of a sex scandal that forced Eliot Spitzer to resign from office last year. 

SunTrust Bank will soon be joining the tenants at Culpeper Colonnade, a 271,032-square-foot shopping center in Culpeper that opened in 2007.  The bank bought an acre of land from Regency Centers, the center’s owner. SunTrust plans to build a branch location at Routes 15 and 29 and New Braggs Road. 

LEASES — Diamond Hill Plywood Co. has leased 150,000 square feet of warehouse/distribution space on Washington Highway in Doswell near Interstate 95. The wholesale distributor of building material products, which serves a customer base throughout the Southeast, consolidated its Richmond and Chesapeake operations into this location. GVA Advantis in Norfolk represented Diamond Hill and Porter Realty represented the landlord.


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