Commercial real estate roundup, 7/19/10
- July 19, 2010
Fairfax County snags a big government lease while a new Fredericksburg project draws several retailers. This and other real estate news from around the state:
FAIRFAX COUNTY — The General Services Administration (GSA) is leasing 662,000 square feet in a building owned by GBA Associates at 7700 Arlington Blvd. It will be the new home of the Defense Department’s Medical Command Headquarters. The long-term lease is valued at about $370 million. Raytheon is the major tenant now but will move to AOL’s former headquarters campus in Dulles. Starting in summer 2011, more than 3,000 medical headquarters personnel now scattered throughout the Washington region will come together in the building. Cushman and Wakefield’s Federal Practice Group represented GBA Associates while CB Richard Ellis represented the GSA.
FREDERICKSBURG — Retail leasing remains strong at Eagle Village, a 250,000-square-foot mixed-use project adjacent to the University of Mary Washington.
Among those signing recent leases are Home Team Grill, Pancho Villa Express, Blackstone at The Village and Salad Creations. The retail part of the center is now 90 percent leased. Thalhimer, a member of the Cushman & Wakefield Alliance, is the exclusive leasing representative.
PETERSBURG — A private investor purchased a 9,014-square-foot net lease Dollar General store for $927,350. Reston-based Calkain Cos. handled the sale transaction of the property, which has a long-term lease with Dollar General Corp.
HENRICO COUNTY — First Capital Bank has purchased a building at the Innsbrook Corporate Center, in which it has long been the primary tenant. It paid $3.5 million for the 23,805 square-foot-office located at 4222 Cox Rd., one of the oldest buildings in the development.
HENRICO COUNTY — Cobblestone Cellars Inc. is moving to a new and larger space. The wine distributor has signed a lease for 28,880 square feet on Lewis Road. The Richmond office of CB Richard Ellis handled the transaction.