Capital Beltway

Terreno Realty Corporation Acquires Property in Alexandria, VA for $84.3 Million

Retrieved on: 
Tuesday, April 16, 2024
Other Construction & Property, Commercial Building & Real Estate, Construction & Property, REIT, Acquisition, Public expenditure, Risk, Annual report, Total, Capital Beltway

Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Alexandria, Virginia on April 15, 2024 for a purchase price of approximately $84.3 million.

Key Points: 
  • Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Alexandria, Virginia on April 15, 2024 for a purchase price of approximately $84.3 million.
  • The property consists of four industrial distribution buildings containing approximately 357,000 square feet on 19.1 acres.
  • The property is 100% leased to 21 tenants, with all leases expiring by 2031, and the estimated stabilized cap rate is 5.3%.
  • Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

“Public transit more convenient”, Washingtonians reject view that the car is king

Retrieved on: 
Wednesday, March 13, 2024
Capital Beltway, Hitachi, Travel, Research, WMATA, City, Rail transport

WASHINGTON, March 13, 2024 (GLOBE NEWSWIRE) -- Over two-thirds of Washingtonians support investing in public transit over driving, according to a new global survey commissioned by Hitachi Rail.

Key Points: 
  • WASHINGTON, March 13, 2024 (GLOBE NEWSWIRE) -- Over two-thirds of Washingtonians support investing in public transit over driving, according to a new global survey commissioned by Hitachi Rail.
  • The results from 1,000 Washingtonian’s provides a statistically accurate picture of how Washington D.C.’s citizens view their public transit compared to other major cities around the world.
  • Despite the city’s reputational preference for favouring the Capitol Beltway over public transit, research shows that Washingtonians may increasingly be prepared to back public transit.
  • The research also provides recommendations on how city planners and the wider transit industry could encourage greater public transit usage.

CIM Group Sells 1,180-Unit Mason at Van Dorn Apartment Community in Alexandria, VA

Retrieved on: 
Friday, March 29, 2024
Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REIT, Capital Beltway, Parcel locker, Van Dorn, CIM Group, Barbecue, CIM, Recreation, Lighting, Landmark Mall

CIM Group announced today that it has sold Mason at Van Dorn, a 1,180-unit apartment community consisting of fourteen four- and five-story buildings spread across an approximately 25-acre site in Alexandria, Virginia.

Key Points: 
  • CIM Group announced today that it has sold Mason at Van Dorn, a 1,180-unit apartment community consisting of fourteen four- and five-story buildings spread across an approximately 25-acre site in Alexandria, Virginia.
  • Located at 140 South Van Dorn Street, Mason at Van Dorn provides residents spacious homes offered in a range of floor plans from studio to two-bedroom configurations.
  • Over the course of its ownership and management of this substantial apartment community, CIM Group instituted a program of improvements to Mason at Van Dorn, which was built in 1972.
  • Mason at Van Dorn, conveniently situated just off I-395 inside the Capital Beltway, is four miles from Old Town Alexandria and one mile north of the Van Dorn Metro Station.

Winter City Lights Named a Top Holiday Lights Attraction in the Country

Retrieved on: 
Tuesday, November 21, 2023
Glass, Snow, BBQ, Multimedia, Twinkie, House, Capital Beltway, Heart, Music, Country, Christmas, Family, Polar Bear, FREE, Pioneer Woman, Mid-Atlantic (United States), Blizzard, Amusement park, MD

OLNEY, Md., Nov. 21, 2023 /PRNewswire/ -- Winter City Lights, open now through December 30th, has captured national attention and high rankings for its one of a kind light displays, flagship Christmas tree, and charming 1.5 mile illuminated path through the woods. This magical holiday lights event, located in the heart of the Washington DC, Baltimore and Northern Virginia area, has already been named as a top holiday lights attraction in the country by Country Living #2, Pioneer Woman #5 and House Beautiful #15.

Key Points: 
  • This magical holiday lights event, located in the heart of the Washington DC, Baltimore and Northern Virginia area, has already been named as a top holiday lights attraction in the country by Country Living #2, Pioneer Woman #5 and House Beautiful #15.
  • This Christmas lights experience spans 18-acres, features one million lights, and is designed to be an immersive holiday lights festival offering guests a magical experience.
  • "Winter City Lights is the perfect place to bring a date or the entire family," said John Dixon, Winter City Lights.
  • Winter City Lights is an eco-friendly event designed with high-quality, low energy lighting and aluminum displays made from recycled materials.

Winter City Lights Unveils New Holiday Displays, 1.5-Mile Trail, and 52-foot Tree with Massive Canopy of Lights

Retrieved on: 
Wednesday, October 18, 2023
Capital Beltway, Country, DMV, Light, Multimedia, BBQ, Twinkie, FREE, Music, Drink, Fireworks, Amusement park, MD

OLNEY, Md., Oct. 18, 2023 /PRNewswire/ -- Winter City Lights, the most anticipated holiday lights festival in the DMV, opens Saturday, November 18, 2023, with FREE cups of their famous hot chocolate for guests; a 1.5-mile trail in the woods with magical displays; one million lights; and a 52-foot, fully-orchestrated tree. In addition, there are double the number of light strings that cascade down from the top of the tree for an awe-inspiring experience where Winter City "snow" falls every 30 minutes to holiday light and music shows. 

Key Points: 
  • In addition, there are double the number of light strings that cascade down from the top of the tree for an awe-inspiring experience where Winter City "snow" falls every 30 minutes to holiday light and music shows.
  • Guests are encouraged to enjoy the longer and more thrilling Penguin Plunge snow tubing ride—the most popular attraction at Winter City Lights.
  • Winter City Lights spans 18-acres and features more than 200,000 square feet of holiday displays and was ranked #2 Most Magical Christmas Light Display in the country by Country Living Magazine.
  • Winter City Lights is an eco-friendly event designed with high-quality, low energy lighting and aluminum displays made from recycled materials.

Wood Partners Brings Elevated Living to Falls Church, Virginia with Newest Luxury Residential Community Alta Nova

Retrieved on: 
Tuesday, September 26, 2023
Lazarus, Taste, Heart, Pentagon, Quartz, Capital Beltway, Amazon HQ2, Sun, World market, D.C

FALLS CHURCH, Va., Sept. 26, 2023 /PRNewswire/ -- National multifamily real estate development leader Wood Partners has officially announced construction is underway on Alta Nova, the company's latest luxury residential community, located in Falls Church, Virginia.

Key Points: 
  • FALLS CHURCH, Va., Sept. 26, 2023 /PRNewswire/ -- National multifamily real estate development leader Wood Partners has officially announced construction is underway on Alta Nova, the company's latest luxury residential community, located in Falls Church, Virginia.
  • Pre-leasing for the property is anticipated to begin in 2024, with initial units becoming available in early 2025.
  • Situated at 5851 Columbia Pike, Alta Nova presents an ideal living environment for young professionals and families seeking to immerse themselves in the allure of the Washington, D.C. metropolitan area.
  • "With construction currently underway, we eagerly anticipate extending a warm welcome to future residents of Alta Nova in Falls Church, Virginia," said Ben Lazarus, Managing Director at Wood Partners.

Qualtrics Opens New State-of-the-Art Office in Reston, VA

Retrieved on: 
Thursday, September 21, 2023
Public Policy, Government, Telecommunications, Software, Audio, Video, State, Local, Artificial Intelligence, Data Management, Technology, Heart, Reston Station, Marketing, Clarabridge, Creativity, Rolls-Royce Limited, Public sector, XM, Acquisition, Blues, Restaurant, Machine learning, Engineering, Artificial intelligence, Growth, AI, Capital Beltway, Management, Retail, Spotify, Qualtrics

The new office is located at Reston Station about 20 miles from Washington in Northern Virginia.

Key Points: 
  • The new office is located at Reston Station about 20 miles from Washington in Northern Virginia.
  • "Our expansion in Reston marks a significant milestone in Qualtrics’ growth and commitment to innovation, particularly artificial intelligence and machine learning," said Zig Serafin, CEO, Qualtrics.
  • Qualtrics will occupy 52,266 square feet across two full floors in the newly developed Reston Station complex which comprises residential buildings, office buildings, hotels, restaurants, and retail spaces.
  • The new office will house roles across all departments, including sales, professional services, engineering, operations, customer success and marketing, reflecting Qualtrics’ commitment to growth and investment in the region.

EJF Capital and the NRP Group Close $61M Construction Loan for Hyattsville, Maryland Multifamily Development

Retrieved on: 
Tuesday, June 27, 2023
Other Construction & Property, Residential Building & Real Estate, Urban Planning, Construction & Property, Real estate development, Capital Beltway, University, Senior, EJF, Airport, College Park, Development, Walking, Baltimore–Washington Parkway, First National Bank, Capital, Tax, Project, Flagstar Bank, NRP, Real estate, Commercial property, Cryptocurrency, D.C

EJF Capital LLC (“EJF”) and The NRP Group (“NRP”) today announced the closing of a $61 million construction loan led by First National Bank to develop a 361-unit multifamily community in Hyattsville, Maryland (the “Project”).

Key Points: 
  • EJF Capital LLC (“EJF”) and The NRP Group (“NRP”) today announced the closing of a $61 million construction loan led by First National Bank to develop a 361-unit multifamily community in Hyattsville, Maryland (the “Project”).
  • The Project is expected to deliver in the third quarter of 2025.
  • Over the past decade, Greater Hyattsville has emerged as an affordable multifamily submarket of Washington, D.C. with substantial retail options within walking distance of city center.
  • We are incredibly proud to be starting our third project in Prince George's County to continue our mission of creating the highest-quality multifamily communities that NRP is known for.”

Turnbridge Equities and Manekin Raise $275 million for Development of National Capital Business Park, including $110 million of Joint Venture Equity from Qatar Investment Authority and PCCP, and $165 million of Construction Financing from Apollo

Retrieved on: 
Tuesday, June 13, 2023
Professional Services, Commercial Building & Real Estate, Asset Management, Construction & Property, Urban Planning, PCCP, Partnership, I-95, QIA, Developer, Electricity, I-83, Apollo Global Management, HVAC, Qatar Investment Authority, Stock, NCBP, I-81, Capital Beltway, Ferguson Enterprises, Self storage, Turnbridge

The transaction included approximately $275 million of construction financing and joint venture equity for the recapitalization and development of Phase I of NCBP, consisting of five Class A industrial warehouse buildings totaling 1.3 million square feet.

Key Points: 
  • The transaction included approximately $275 million of construction financing and joint venture equity for the recapitalization and development of Phase I of NCBP, consisting of five Class A industrial warehouse buildings totaling 1.3 million square feet.
  • Phase I of National Capital Business Park consists of five Class A industrial warehouse buildings that will range in size from approximately 160,000 square feet to 360,000 square feet across 94 acres.
  • “The impressive, institutional capital stack we have assembled for this best-in-class development speaks to the quality of the Turnbridge and Manekin teams and the project they have assembled here.
  • This project is the perfect case study of the market today – competitive, sophisticated capital stepping up for infill projects and top sponsors.”

Arcland Property Company and Chesapeake Real Estate Group announce the Grand Opening of Self Storage Facility in Lanham, MD

Retrieved on: 
Wednesday, May 10, 2023
Growth, Capital Beltway station, Partnership, SVP, Capital Beltway, Self storage, MD, Investment

LANHAM, Md., May 10, 2023 /PRNewswire/ -- Arcland Property Company in partnership with Chesapeake Real Estate Group are pleased to announce the opening of a self storage development in Lanham, Maryland .

Key Points: 
  • LANHAM, Md., May 10, 2023 /PRNewswire/ -- Arcland Property Company in partnership with Chesapeake Real Estate Group are pleased to announce the opening of a self storage development in Lanham, Maryland .
  • This is the 41st facility added to the rapidly growing portfolio of Arcland Property Company, a dominant developer and owner of self storage in the mid-Atlantic region.
  • The property marks the 2nd facility Arcland has opened over the past two weeks, as the company continues unprecedented growth.
  • The property offers 129,800 square feet of climate-controlled self storage across its 1,035 units, and sees an excess of 45,000 vehicles per day traffic.