Commercial real estate roundup
- September 21, 2009
Washington, D.C. — The General Services Administration broke ground this month on a new, 1.2 million-square-foot headquarters for the Department of Homeland Security. The $3.4 billion project on the campus of the former St. Elizabeths Hospital is expected to receive more than $650 million in federal stimulus funds. Clark Construction Group LLC won a $435 million contract to build the first phase, a new headquarters for the U.S. Coast Guard that should be ready by 2013. Overall, the project will consolidate most of the 22,000 DHS personnel now scattered in more than 40 buildings in the Washington area. Plans call for revitalizing 52 of the original 62 buildings at St. Elizabeths, the site of the country’s first federally operated institute for the mentally ill. The DHS expects to move to its new building in 2016.
Richmond — Consumer electronics retailer hhgregg has leased two former Circuit City buildings in the Richmond area and is renovating them in anticipation of a November opening. The Indiana-based company plans to have the stores, a 42,680-square-foot building in Chesterfield County and a 33,382-square-foot store in Short Pump, ready by Thanksgiving. The local contractor for the project is EDC in Chesterfield.
Williamsburg — Henry S. Branscome LLC has purchased a 20,000-square-foot office building on Discovery Park Boulevard for $2.4 million as an investment. The seller was the Wather-Thomas Family Development of New Town, LLC. Thalhimer, a member of the Cushman/Wakefield Alliance, handled sale negotiations.