Commercial real estate roundup, 3/22/10
- March 22, 2010
WINCHESTER — General Electric’s lamp manufacturing plant will close this spring and go on the market for $13 million. After nearly four decades of operation, the 454,965-square-foot manufacturing facility is expected to be ready for occupancy by this fall. The site off U.S. 11 offers 393,840 square feet of plant space, nearly 24,000 square feet of offices, employer locker rooms and cafeteria and an automated warehouse. Adams-Nelson & Associates Inc. is serving as the property’s sales broker.
WOODBRIDGE — Bloomingdale’s will open a 25,000-square-foot outlet store at Potomac Mills by mid-summer. The new anchor store will be located in the mall’s Fashion District, joining other designer brand outlet stores.
DULLES — A national moving and storage company has signed a 10-year, 64,539-square-foot lease at Northwoods Building Three. Ward North American said it chose the location because of easy access to major highways and proximity to clients, including the U.S. government. Studley represented Ward during lease negotiations.
HERNDON — Wells Fargo & Co. funded a $31 million loan for Monument III, a 13-story, Class A office building in Worldgate Office Park. The borrowers, Angelo Gordon & Co. and MRP Realty, acquired the property during an all-cash deal in December and will use the proceeds to increase financial leverage, according to Wells Fargo. The 193,194-square-foot building, which was 94 percent leased at the time of closing, is located in a mixed-use project, three miles from Washington-Dulles International Airport.
MECHANICSVILLE — Joe Harding of Harding & Associates Inc. and Morgan Property Group are developing Patriots Corner, a 33,080-square-foot retail shopping center at the intersection of Route 301 and Atlee Road. Walgreens, Auto Zone and Connects Federal Credit Union have signed on as anchor tenants. The center is expected to open in the summer of 2011.
ROANOKE — The renovated headquarters of Lanford Brothers Co. has received a silver certification under LEED (Leadership in Energy and Efficient Design). The 8,800-square-foot facility offers a green roof, natural light, low-flow water fixtures and other eco-friendly elements. It’s one of four green-certified buildings in the Roanoke Valley. Lanford, a specialty contractor, serves the mid-Atlantic area.