Buchanan Partners, a leading real estate development firm headquartered in the Washington, DC region, has teamed with Miami-based real estate investment firm Elion Partners to acquire a 700,000-square foot industrial portfolio in suburban Washington, DC for $81.15 million. The portfolio comprises 14 buildings just off Route 28 in the northern Virginia submarkets of Westfields, Chantilly, and Dulles.
The JCR Companies of Washington, DC has acquired Riverton Commons, a 69,496 square foot shopping center in Front Royal, VA, for $17,722,000.
Riverton Commons is located on about 13 acres at the highly traveled intersection of Interstate 66 and US Route 522. JCR plans to lease up the existing vacant space and either develop or sell the property’s five pad sites, two of which are vacant land.
Howard University is partnering with Urban Investment Partners and Neighborhood Development Corporation to redevelop two former dormitories into residential apartments. The partnership will renovate and convert the two structures into 162 modern rental apartments. Located in the LeDroit Park neighborhood of Washington, DC, George Washington Carver Hall (211 Elm Street, NW) and Lucy Diggs Slowe Hall (1919 3rd Street, NW) were built in 1942 to accommodate War Department workers. For more than 60 years, the buildings have served as student dormitories for the University.
Washington REIT has broken ground for The Trove, a new 401-unit trend-setting apartment community in the close-in Columbia Pike corridor of Arlington, VA. Three new seven-story buildings offering stellar amenities are scheduled to start delivering in 2019. The Trove is designed to provide the convenience of comparable apartment communities, but with more amenities and at a lower price point.