Virginia
Businesses in the News
Real
Estate
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Virginia Business Magazine
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Vie
de France Yamazaki, a foodservice bakery
and retail operator, extended its corporate
headquarters lease on Chain Bridge Road, Vienna.
After subleasing and restructuring its lease,
the firm extended the lease on 24,298 square
feet of space by eight years. (06/22,2004,
Press release)
HRPT Properties, a Maryland
real estate investment trust, bought Oceana
Place, a three-story Class A office building
in the Lynnhaven submarket of Virginia Beach
for $6.75 million. Oceana Place is 75,369 square
feet in area on 7.46 acres and is 90 percent
occupied. (06/21/2004, Press release)
Hampton-Newport News Community
Services Board bought Hampton Professional
Center from Hampton Medical Center for $8.7
million. Plans call for development of Virginia’s
largest community mental health facility on
the 13.4 acre site on Medical Way in Hampton.
(06/16/2004, Press release)
Circuit City, a Richmond-based
consumer electronics retailer, announced plans
to sell properties on Thalbro Street in Richmond
that formerly housed its corporate headquarters
and the company’s original superstore. The 40,000-square-foot
superstore was the forerunner of the consumer
electronics format used by Circuit City and
adopted by its chief rival Best Buy. (06/16/2004,
Richmond Times-Dispatch)
First Potomac Realty Trust
of Bethesda, Md. paid $11.2 million for
the Aquia Commerce Center I & II in Stafford
County, a two-building, 64,000-square-foot flex
property. (06/07/2004, Business Wire)
LaSalle Hotel Properties,
Bethesda, Md., purchased The Hilton Alexandria
Hotel in Old Town for $59 million. The 241-room
facility has 8,000 square feet of meeting space
and will continue to operate under a Hilton
franchise agreement. (05/28/2004, Business
Wire)
Equity Office Properties
Trust of Chicago purchased American Center
in Tysons Corner for $60.5 million. The two
eight-story, Class A office buildings comprise
328,741 square feet. Equity Office already owns
four office buildings in Tysons Corner totaling
732,000 square feet. (05/27/2004, Business
Wire)
PS Business Parks, based
in Glendale, Calif., acquired Fairfax Executive
Park, a 165,000-square–foot office
complex in Fairfax for $22.4 million. The two
three-story buildings and four one-story buildings
are 82 percent leased. (05/27/2004, Press
release)
Emerald Harbour purchased
Chelsea Commons in Chesapeake’s
Greenbrier Business Park for $1.2 million. The
12,400-square-foot building will be used as
office space. (05/27/2004, Press release)
