Property Types Office
JPG Takes 2 Bethesda Office Buildings for $80M
May 8, 2008
By: Judy Feldman, Contributing Correspondent

The JBG Cos. has bought two North Bethesda, Md., properties for $80 million. Together, the class A buildings contain 346,000 square feet. The are located on the Rockville Pike near the Montgomery Mall.

Holiday Fenoglio Fowler’s senior managing directors Bob Donhauser and Bill Asbill, and director Cary Abod, helped the firm secure financing, a five-year fixed rate loan, from ING Real Estate.

Th market is tight for office space now, with rents in the Montgomery County area hitting a new high of $33.75 per square foot in Class A buildings, according to data from Cushman & Wakefield Inc., which also noted that Montgomery County has had a cooling job market this year and continued weakness in the financial sector, along with the rest of the country. But the unemployment rate in Montgomery County is still at an eight-year low of 2.7 percent. The Bethesda/Chevy Chase is the tightest among all the submarkets in the county with the vacancy rate dropping to 4.3 percent for class A buildings.

The JBG Companies, founded in 1960, is an active investor owner and developer in the Washington, D.C., metropolitan real estate market. It currently has more than $10 billion in assets under management.

 
Recent Office Headlines
Pharmaceutical Firm Leases 40,000SF at 600-Acre Business Park
July 03, 2008
KaloBios Pharmaceutical has snagged 40,000 square feet at 260 East Grand Avenue in South San Francisco, Calif. for its new headquarters location.
$850M Comcast Center Makes its Debut as Tallest Green Building in U.S.
July 03, 2008
The nearly 1.3 million-square-foot Comcast Center has just recently opened its doors with an estimated completion price tag of $850 million.
CBRE Investors Snaps Up 1MSF Suburban Dallas Office
July 02, 2008
Acting on behalf of its Strategic Partners U.S. 5 fund, CB Richard Ellis Investors has just acquired The Colonnade, a 1 million-square-foot office property in Addison, Texas.
horizon Fox Interactive Signs $350M Lease for New LA-Area HQ
July 02, 2008
Fox Interactive Media has completed a lease agreement with Lincoln Property Co. and ASB Real Estate Investments to lease 421,000 square feet of office space at the Horizon at Playa Vista project near Los Angeles.
COPT Wraps Acquisition of 3 Offices
July 02, 2008
In a $40.5 million transaction, Corporate Office Properties Trust (COPT) has acquired three office buildings, one in Colorado Springs, Colo., and two in San Antonio, Texas.
 

 

$8.9B Penn Gaming Merger Crumbles
July 03, 2008
By Barbra Murray, Contributing Editor After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc.,...

Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
By Gail Kalinoski, Contributing Editor Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not...

H&R Sells 11 in Canada
July 03, 2008
By Thomas Peretti, Contributing Correspondent -- H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on...

LA Developer Partners with Vegas Officials for Museum, Hotel Redevelopment
July 03, 2008
By Tonie Auer, Southwest Correspondent -- Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent...

Lightstone Acquires Interests in 20 Outlet Centers in $456M Deal
July 02, 2008
By Barbra Murray, Contributing Editor Lightstone Value Plus REIT will soon have a stake in 20 factory outlet centers, now that it has signed on purchase from 22.54 to 25 percent interests in the properties from affiliates of Arbor Mortgage...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...

How to Reduce Employee Turnover
June 06, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Few things in business are as costly and disruptive as unknowingly having the proverbial revolving door for employees to exit from. While there are many secondary and tertiary items that can influence an...

How To Delegate for Success
May 30, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --If you desire to become a top CEO it will be essential for you to master the art of leveraging down. Think of any top performing CEO and you'll find that to the...