Commercial real estate roundup
- January 25, 2010
WASHINGTON, D.C. — The federal government, height restrictions and reasonable deal sizes are among the key reasons why foreign investors rank D.C. as their No. 1 pick in the U.S. for investment opportunity. The 18th annual survey by the Association of Foreign Investors in Real Estate was conducted in the fourth quarter among nearly 200 members who own $304 billion worth of real estate in this country. Fifty-one percent said America provides the best opportunity for capital appreciation. The U.K. was ranked as the No. 2 country for investment, and China came in third.
VIRGINIA BEACH — AECOM Technology Corp. is part of a team selected for the design-build project for the $9.6 million Virginia Tech National Institute of Aerospace facility in Hampton. Arlington developer Concord Eastridge will lead the team, which includes local contractor VIRTEXCO Corp. and Tymoff & Moss Architects. The 60,000-square-foot project is expected to open by June 2011.
VIRGINIA BEACH — DOMA Technologies has signed a lease for 16,419 square feet of office space in the Sabre One office building. Divaris Real Estate Inc. represented the landlord, 2700 International Parkway Corp.
FREDERICKSBURG — Wisconsin-based Kalahari Resorts has until June to begin construction on a stalled water park resort in Fredericksburg if it wants to tap into $25 million in bonds from the state of Virginia. In the largest allocation to a single project, Virginia dedicated tax-exempt recovery zone facility bonds, designed for private projects under economic stress. Announced in November 2007, the $260 million resort planned for the Celebrate Virginia tourism district has not been able to secure financing. The state’s bond application stipulates that construction on the 2,400-acre project must start by June 30.
RICHMOND — A prime industrial site in Hanover County is on the market. Jones Lang LaSalle is representing Air Park Associates in its bid to sell a 217-acre tract in the county’s economic development zone. The site, close to Interstates 64, 95, 85 and 295, is zoned M-2 and has utilities in place.