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Transactions
Virginia Business
March
2005
REAL
ESTATE SALES
Windsor @ Battlefield, a two-building office/flex property
in Battlefield Business Park in Manassas, recently sold
for $15.5 million. The buyer was Bethesda, Md.-based
First Potomac Realty Trust, which acquires and operates
industrial and flex properties in the southern mid-Atlantic
area. The Washington, D.C., Investment Services Group
of Transwestern Commercial Services, which represented
DMV SUB 3 LLC in the transaction, brokered the deal
for the 154,226-square-foot properties. Windsor @ Battlefield
includes a 12-acre site and is close to Washington Dulles
International Airport via I-66.
In
what was an investment deal, PBC–Cary LLC bought
the 39,900-square-foot VMS Office Building on East Cary
Street in Richmond for $4.1 million. The seller was
Welred Associates LLC. The Richmond office of Thalhimer/Cushman
& Wakefield handled negotiations for the buyer and
seller
The Snack Food Association sold 1711
King St. in Alexandria for $2.7 million to the Wharco
Realty Group. Built in 1923, the 9,215-square-foot office
will be 100 percent occupied by the seller for a short
time. The Washington, D.C, office of Advantis/GVA was
the broker in the transaction.
Metro III & IV, a Class A office
complex in Fairfax, was purchased by Prosperity Metro
Plaza LLC for $85 million. The seller, Opus East LLC,
was the original developer in 2001 of the two seven-story
buildings, which together total 301,579 square feet.
The property includes an eight-level parking structure
across from the Dunn Loring-Merrifield metro station.
Sixty percent of the building’s space is leased
to the federal General Services Administration through
2014. The Washington, D.C., office of Grubb & Ellis
represented the seller.
REAL
ESTATE LEASES
Owens & Minor has leased 113,500 square feet of
industrial space at the Enterchange at Northlake in
Hanover County. The newly constructed distribution center
is just off I-95. The Richmond office of Thalhimer/Cushman
& Wakefield handled lease negotiations.
Computer Systems Center Inc. has renewed
and expanded its lease at the Springfield Corporate
Center. The small technology company now occupies 69,874
feet of space in the five-story office building at the
intersection of the Capital Beltway, I-395 and I-95.
The Washington, D.C., office of Grubb & Ellis Co.
represented Computer Systems.
EXPANSIONS
Federal Realty Investment Trust, owner of the Barracks
Road Shopping Center on Route 29 in Charlottesville,
is adding shops and expanding two existing stores. The
new stores are Rugby, a retail clothing concept from
Ralph Lauren that features the logo of a rugby kicker,
and Penelope, a woman’s boutique that sells sterling
silver jewelry, clothing and handbags. In addition to
the new retailers, restaurants Panera Bread and Five
Guys Burgers are coming to Barracks in their first forays
in the Charlottesville area. Current tenants Scarpa
and Talbots are expanding their space in the 500,000-square-foot
property, one of the largest retail centers in the region.
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