Regions Midatlantic
USAA Nabs Sears Distribution Center in Pennsylvania
Aug 7, 2008

The Sears Distribution Center in Covington Industrial Park has been purchased by USAA, according to a Cushman & Wakefield Inc. announcement. The new facility, which is occupied on a long-term lease by Sears Logistics Services, is a 1,026,000-square-foot property located on 74 acres in Covington Township, Penn. The transaction was arranged by Cushman & Wakefield's Jim Sheehan, Jerome Kranzel, Jeff Williams, Steve Cooper, and Gerry Blinebury, along with Jim Vesey. The northeast Pennsylvania market is a rapidly growing distribution hub that has emerged as one of the premier warehousing and distribution locations in North America. The region contains more than 46 million square feet of industrial property with a relatively low 10.5 percent vacancy rate.

 
Recent Midatlantic Headlines
Neal Joins GVA Advantis as Chairman
Aug. 20, 2008
GVA Advantis said today that Jeffrey Neal has joined the company as chairman. Most recently, he was the co-founder and principal of the Washington-based real estate development company Monument Realty.
Northern Virginia County Gets First LEED Gold Spec Office
Aug. 18, 2008
Construction has wrapped up for the first of two Class A office buildings that will comprise the 230,000-square-foot Atlantic Corporate Park in Sterling, Va., located about 25 miles from Washington, D.C., in Loudoun County.
New Hotel Raises its Flag in Philly
Aug. 15, 2008
Starwood Hotels & Resorts Worldwide Inc. has completed development of yet another hotel under its new Aloft lifestyle brand.
Two Former Staubach Execs Join CB Richard Ellis
Aug. 13, 2008
CB Richard Ellis Group Inc. has hired two real estate industry veterans, Michael McShea and Peter Larkin, formerly of The Staubach Co. Both focus on the public sector and have joined the company’s government and public sector solutions group, based in Washington, D.C. The Staubach Co. was recently acquired by Jones Lang LaSalle.
The Yards New Pavilion Heralds $1.7B Mixed-Use Project in D.C.
Aug. 08, 2008
Construction of The Yards, a 5.5 million-square-foot redevelopment endeavor in southeast Washington, D.C., by Forest City Washington, is in the works, and the company has just opened The Yards Pavilion (pictured) to give a peak at what is to come when the first phase of the project delivers late next year. An outdoor marketing gallery, The Yards Pavilion features exhibit panels and kiosks detailing the multi-faceted $1.7 billion project, the first structure of which will debut late next year as the 170-unit Foundry Lofts apartment building.