Commercial real estate roundup, 1/17/11
- January 17, 2011
TYSONS CORNER — Tysons Corner new comprehensive plan won the Daniel Burnham Award from the American Planning Association because of its approach to density, focused around four planned transit stations. The plan was designed to reduce the jobs-to-household ratio from 13:1 to 4:1 and includes incentives to keep 20 percent of new housing units for moderate-income households. The APA also praised Tysons for a stormwater management plan that would retain the first inch of rainfall on site. Currently, there are 17,000 residents and 100,000 jobs in Tysons. With the new plan in place, projections suggest that the area will have 100,000 residents and 200,000 jobs by 2050.
ROSSLYN — Developer JBG Cos. plans to break ground Jan. 25 on Rosslyn Commons. The two-tower residential project will include 474 apartments and 25 town homes. Construction is expected to take a little more than two years. The $140 million project was approved in 2008. Due to financing challenges, though, it stalled. According to the Washington Business Journal, TD Bank Financial Group and Capital One Financial Corp. are financing the project, with JBG putting up some equity funding.
WASHINGTON, D.C. — The U. S. General Services Administration has increased its sustainability requirements for new construction and major renovation projects. It now requires that these projects be certified under the U. S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) program at the “gold level.” Previously, federal tenants were required to locate in LEED silver-certified space. The requirement for silver remains in place for leases of 10,000 square feet or more in newly built space. The GSA oversees a portfolio of more than 361 million square feet of space in 9,600 federally owned and leased facilities.
NORFOLK — Five Robo Autobath locations in Hampton Roads have a new owner. CB Richard Ellis represented Green Clean LLC in the purchase of the properties in Norfolk, Virginia Beach, Chesapeake and Portsmouth from Mannix Stanton/Stanton Corp. DBA. The new owner plans to incorporate green-oriented products and practices in the car washes.
BRISTOL — The 47-room Econo Lodge in downtown Bristol has been sold by Allen Management to Keshav LLC. The new owner plans to renovate the hotel and retain the Econo Lodge franchise affiliation. The Mumford Co. in Newport News represented Allen Management in the sale.
ASHLAND — Top Gun Motor Sports leased 10,000 square feet on Cobbs Road in Ashland. CB Richard Ellis handled the transaction.