Commercial real estate roundup, 8/16/10
- August 16, 2010
ROANOKE — Miller-Mote Technical College has leased 27,866 square feet on the top level of Tanglewood Mall in Roanoke. The college also plans to build out two retail spaces on the mall’s lover level. Construction will begin later this month for labs, classrooms and a student café. Studley Inc. and Gentry Commercial Real Estate represented the college. Miller-Mote, based in North Carolina, also has a school in Lynchburg.
LOUDOUN — First Potomac Realty Trust of Bethesda, Md., continues to invest in this fast-growing county. Construction has begun on a seventh building at Sterling Park Business Center. The firm has preleased 43 percent of the space at the new 56,900 square-foot, flex/office project to one of the center’s existing tenants. MSI Worldwide Mail has signed a 10-year, 24,200-square-foot lease so it can relocate and expand from another location. DVA Architects of Gaithersburg, Md., will serve as architect, and Hubert Construction, also of Gaithersburg, will be the general contractor. The 450,000-square-foot Sterling Park office and industrial park center is located off Route 28 and the Dulles Toll Road, near the Washington-Dulles International Airport.
WASHINGTON, D.C. — BB&T Corp. is not only keeping its regional headquarters location, it’s adding space. The Winston-Salem, N.C-based bank has renewed a lease for 21,000 square-feet at 1909 K. Street’s Millennium Building for 15 years. It also signed on for an additional 7,100 square feet for its Wealth Management Group. BB&T has been a tenant in the building for 11 years. CB Richard Ellis represented both the landlord and building owner, The Tower Cos., and BB&T, in the transaction.
HAMPTON — The American National Red Cross purchased the Hampton Commerce Center from Hampton Commerce Center LP for $950,000. The two-acre site and 16,900-square-foot building on Pembroke Avenue will serve as the nonprofit’s Hampton Roads operations center. Thalhimer handled sale negotiations.
CHESAPEAKE — Fulton Bank purchased 1.2 acres of land in the Hanbury Village Shopping Center for $1 million. The bank plans to build a branch at the site on Hanbury Road. Thalhimer handled sale negotiations.