Commercial real estate round up, 5/17/10

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Print this page by Paula C. Squires

RICHMOND — Two new tenants are opening offices at Rocketts Landing, an urban mixed-use project on the shores of the James River. A commercial art school new to Richmond and a branding and strategy consulting based in Midlothian have signed leases for commercial space on the ground floor of the Rock Building. The Art Department will occupy 2,200 square feet while Pure Culture Consulting/Mediapond will lease 2,300 square feet.

HENRICO COUNTY — Community Group Inc. has signed a 13,512-square-foot lease at Westerre IV, bringing the building to 100 percent occupancy. The gold certified LEED building, (Leadership in Energy and Environmental Design) owned by Liberty Property Trust, opened in 2008. Liberty, based in Pennsylvania, won a first-place ranking among U.S. commercial real estate developers for sustainable design. In a national study of publically held U.S.-based commercial real estate companies, Maastricht University ranked Liberty first in the category of implementation and measurement of environmental policy. The REIT has invested more than $1 billion in more than 35 sustainable office and industrial buildings, including properties in Richmond and Hampton Roads.

NEWPORT NEWS — The Mumford Co. closed on the sale of five hotel properties in April. That’s a sign, the company says, that transactional activity is picking up. The properties were located in Florida, North Carolina, Tennessee and Texas and included everything from an economy-branded Motel 6 to a mid-market priced Clarion Inn and Suites. So far this year, the hotel real estate brokerage has completed 10 sales transactions in seven states, a pace it says is ahead of comparable figures for 2009.

VIRGINIA BEACH — Divaris Real Estate Inc.’s division of asset repositioning and monetization services has been named as the exclusive leasing and property management firm for Morningside Plaza, in Altoona, Pennsylvania. The 151,142-square-foot shopping center is owned by Cornerstone Real Estate Advisers.




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