Sales, leases, construction and, yes, foreclosures
- July 9, 2009
While a contracting economy has slowed leasing and all but killed new projects, Virginia continues to see some activity. A look at some recent deals from around the state:
Richmond — LodgeWorks, a Wichita-based builder of upscale hotels, has opened the Hotel Sierra Richmond West. The 134-room, extended-stay property is located near Short Pump Town Center, an open air retail center with shops and restaurants.
Titan Group LLC relocated its corporate headquarters to a 4,400 square-foot
office in Paragon Place in Henrico County. The new location doubles the space for the human resources consulting firm. GVA Advantis represented Titan in the transaction.
Central Virginia Health Network leased 14,760 square feet of space at the Innsbrook Corporate Center in Glen Allen. Highwoods Properties Inc. handled the transaction.
Portsmouth — Marketplace Square, a 12,461-square-foot retail center on High Street, was recently sold for $1 million to Victorian Holding Co. LLC. It plans to renovate the shopping center. Thalhimer/Cushman & Wakefield handled sale negotiations for the company.
Hampton — Lumber Liquidators renewed a lease and expanded into 100,000 square-feet of industrial space at 300 West Park Lane. GVA Advantis represented the landlord.
Suffolk— Northrop Grumman Corp. moved into a new, three-story, 30,000-square-foot building on HarbourView Blvd. The new facility allows the company to consolidate 60 employees from three other area offices
Woodbridge —Three new stores have opened at Potomac Mills. Cole Haan, Coach Factory and Calvin Klein opened outlets in June.
Arlington County— Construction continues on B. F. Saul’s Clarendon Center, the only new project going up in the area. The mix-used project consisting of two buildings, totaling about 170,000 square feet of office space, a tower of rental units and ground-floor retail, is expected to be complete in the third quarter of 2010.
Deloitte subleased 171,591 square feet of space in Rosslyn at the Waterview from the Corporate Executive Board.
Herndon — Two properties, Lincoln Park III and Monument III, were foreclosed on by their lenders, Principal Life Insurance and General Electric Credit Equities. ITT recently signed a lease for 84,810 square feet at Monument III.