Commercial real estate round up, 10/11/10

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Print this page by Paula C. Squires

CHESAPEAKE — Monarch Bank has moved into new corporate offices. Following extensive renovations, the bank moved from its previous headquarters at Greenbrier Business Park into the former headquarters of Armada Hoffler on Crossways Boulevard.  Sixty-two Monarch employees work in the 52,000-square-foot office, along with eight other tenants. 

WASHINGTON, D.C — PNC Financial Services Group has opened the bank’s new Washington regional headquarters.  PNC Place, on 17th Street NW, was developed by the bank in a joint venture with Vornado/Charles E. Smith. The green building is the 104th in the Pittsburgh-based company’s portfolio to be certified LEED (Leadership in Energy and Environmental Design). Among the green highlights: a 15,000-square-foot sky garden covering half of the 12-story building’s roof and a three-story wall of falling water in the lobby that controls that area’s temperature and humidity.

MCLEAN — tw telecom, a provider of Internet and data networking solutions, has signed a seven-year, 10,824 square-foot lease that triples the size of its regional office at Westpark Corporate Center One in Tysons Corner. Studley represented tw in the transaction.

ROANOKE COUNTY — Arbaugh LLC, a disaster recovery company, bought a 10,000-square-foot industrial property on 1.7 acres for $675,000 so it can expand its operations. The seller was Fralin Properties. Thalhimer handled sale negotiations.

ROANOKE — Roanoke Cement LLC, a division of Titan America, has leased a 12,000-square-foot building under construction in Summerfield Village. When completed during the first quarter of 2011, it will house the headquarters for Roanoke Cement and Separation Technologies. Waldvogel Commercial Properties Inc. handled lease negotiations for developer, Summer Properties LLC. 

BLACKSBURG — Woltz & Associates will manage the sale of a large portfolio of development land and income-producing commercial properties at an auction scheduled for Nov. 4. Properties to be sold include Oak Tree Professional Park and Oak Tree Extended Stay, Microtel Inn & Suites, and a K-mart property, all located in Christiansburg.

CHESTERFIELD COUNTY — Redemtech Inc. renewed a 115,000-square-foot lease for the operation of one of its regional centers in the Rivers Bend Business Center. The company, based in Columbus, Ohio, helps companies reuse, refurbish and remarket computers and other technologies. CB Richard Ellis handled the transaction.

CHESTERFIELD COUNTY — Mid-Atlantic Convenience Stores LLC leased 23,224 square feet at Boulders Center in the Boulders Springs office park. Commonwealth Commercial Partners handled negotiations for the landlord, Parkway Properties, LP.

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