Commercial real estate round up, 6/7/10
- June 7, 2010
West Broad Village gets a new tenant in Richmond while a real estate trust buys the first new office buildings in Stafford’s’ Quantico Corporate Center. This and other real estate news from around the state:
HENRICO COUNTY – The Children’s Museum of Richmond is the newest tenant in Short Pump’s West Broad Village retail development. The museum opened a second, 15,500-square-foot location Saturday. The $68 million facility offers many of the same features as the museum’s original location in Richmond, including an art studio. It’s the first children’s museum in the country to open a second location.
HENRICO COUNTY—Two companies have renewed leases at the Enterchange at Northlake. FedEx Ground is staying in its 38,145-square-foot space, and Appalachian Insulation Supply Inc. renewed a lease for 34,792 square feet. Thalhimer handled lease negotiations.
STAFFORD—Washington Real Estate Investment Trust purchased two new Class A office buildings in the Quantico Corporate Center for $68 million. The Rockville-based REIT expects demand for space to grow at the center, located next to Marine Corps Base Quantico. Five military department investigative units will locate to Quantico by September 2011 as part of the military’s base realignment. The buildings, with 271,000 square feet of space, are the first two projects at the center, which is designed to include up to 1 million square feet of office, research, hotel and retail space. The office buildings are fully leased to government and defense contractors.
CHANTILLY—Digital Realty Trust of San Francisco bought a Virginia data center as part of a $725 million portfolio purchase. The five-property portfolio includes the center at Lafayette Center Drive in Chantilly as well as data centers in California and Arizona. The deal, totaling 919,000 square feet, is being purchased from joint ventures that are majority-owned by affiliates of Rockwood Capital LLC and managed by 365 Main Inc.
SUFFOLK—Health Care REIT Inc. purchased the 49,000-square-foot Harbour View Medical Arts Building for $12.5 million as an investment. Thalhimer handled sale negotiations.