Real Estate Journal —November 10 - 23, 2017 — 29A
M id A tlantic
580,930 s/f repositioned class A office building HFF announces $421 million sale of 1800 M Street in Washington, DC
ing and to fund future leasing costs at the properties. Reston Metro Center One & Two are located at 12120 and 12180 Sunrise Valley Dr. This location is within 0.3 miles of the future Reston Town Cen- ter Metrorail Station and has excellent regional connectivity via the Dulles Toll Rd., Capital Beltway (I-495), Interstates 66 and 95 and Fairfax County Parkway (Route 286). Reston Metro Center One was built in 2000 and features 26,600 s/f floor plates and offers prospec- tive tenants coveted Dulles Toll Road signage opportunities with 250,000 views daily. Reno- vated in 2001, Reston Metro Center Two is fully leased (cu- mulatively the two properties are 35 percent leased). The HFF debt placement team representing the borrower included managing director Cary Abod and director Rob- ert Carey . n made are not included in this grant award. “The City of Virginia Beach has been an ideal business partner,” said Fischer. “For over 40 years the city has con- tinued to create a positive eco- nomic environment for manu- facturers like STIHL, support- ing our continued growth and expansion.” Over the last 20 years, Virginia Beach has awarded STIHL Inc. $1.41million in grants, which has leveraged $167,680,000 million in new capital investment. STIHL Inc.’s economic im- pact includes: - Employ 1,900 people in Virginia Beach - Utilize 345 Virginia-based suppliers - Support more than 200 local charities - Expanded presence in the Lynnhaven corridor by more than one million square feet in the last 11 years, Including improvements to International Industrial Center (formerly Lillian Vernon) for non-STIHL tenants, bringing additional business to the city. n
grown in Virginia Beach and has also continually improved its facilities on campus,” said Virginia Beach Economic De- velopment Director Warren D. Harris. “The expansion retains more than 80 full-time posi- tions, and we are all extremely proud that STIHL Inc. leads our region in advanced manu- facturing and technology.” “STIHL Inc. has enjoyed strong year-over-year growth in our sales as well as our manufacturing operations,” said Bjoern Fischer, president of STIHL Inc., “While the cur- rent structure has served us well for the last 40+ years, the new building will improve administrative operational ef- ficiency allowing us to better serve our network of 9,000 independent servicing dealers and their customers.” The Virginia Beach Develop- ment Authority has awarded STIHL Inc. an Economic De- velopment Investment Pro- gram grant in the amount of $500,000 based on the $20- million capital investment in the administration facility. Additional investments being The HFF team represented the borrower, a partnership between Coretrust Capital Partners, LLC and Norman- dy Real Estate Partners, to secure the floating-rate loan through AllianceBernstein . The loan proceeds will be uti- lized to replace existing financ- director Stephen Conley and director Matt Nicholson . The marketing effort was further supported by HFF’s national co-head of investment sale s Manny de Zárraga and HFF’s Global Capital Team comprised of senior managing directors Dan Cashdan, Riaz Cassum , Coleman Benedict and Gerry Rohm . HFF announced, $47 million in financing for Reston Metro Center One & Two, a two-build- ing, 185,671 s/f office portfolio within walking distance of the future Reston Town Center Silver Line Metrorail Station in Reston, VA.
ASHINGTON, DC — Holliday Feno- glio Fowler, L.P.
(HFF) announces the $421 million sale of 1800 M St., a 580,930 s/f, recently reposi- tioned, class A office building in Washington, D.C. The HFF team represented the seller and procured the buyer, a joint venture between Columbia Property Trust and Allianz Real Estate of America, Inc. 1800 M St. is a 10-story office building situated at the corner of 18th and M St.s in Wash- ington, D.C.’s Golden Triangle area. The asset has a Walk Score of 99 and is less than a five-minute walk fromFarragut Square, Dupont Circle, Restau- rant Row and Connecticut Ave. Additionally, it is positioned within a short walk of Wash- ington, D.C’s most popular residential neighborhoods of Logan Circle, Dupont Circle Governor TerryMcAuliffe an- nounced that STIHL Inc., head- quarters for U.S. operations of the worldwide STIHL Group, will expand with an invest- ment in excess of $25 million in Virginia Beach. Currently, STIHL Inc. occupies more than one million square feet of industrial space on 150 acres in the Lynnhaven corridor. The U.S. headquarters opened in Virginia Beach in 1974. “STIHL Inc. has been an important corporate partner to Virginia Beach and the Com- monwealth for over 40 years, and it is a powerful testament to our talent pipeline and com- petitive business climate for this global company to again reinvest in Virginia,” said Gov- ernor McAuliffe. Construction of the state-of- the-art, 80,000 s/f administra- tion facility is part of the com- pany’s commitment to growing U.S. operations in Virginia Beach. The new building will combine the Finance &Control- ling, Sales & Marketing, Legal and Customer & Technical Service teams under one roof, as well as add a new museum
1800 M Street ©Nick Waring
and Georgetown and is within blocks of three Metro stations (Dupont Circle, Farragut North and Farragut West). Recently repositioned and renovated, 1800 M St. is 94% leased to 34 tenants and features nine corner offices per floor, versa-
tile dual core floor plates, dual lobbies, a roof top deck and a best-in-class fitness center. The HFF investment sales team representing the seller included senior managing di- rectors AndrewWeir and Jim Meisel , executive managing
STIHL Inc. plans $25million expansion in Virginia Beach
STIHL Inc. rendering
and brand experience center. This expansion from the existing 21,000 s/f administra- tion building will allow STIHL Inc. to comfortably continue its anticipated growth at its Virginia Beach facility. In ad- dition, STIHL Inc. will relocate and improve its outdoor demon- stration area, allowing dealer groups, employees and visitors to experience STIHL Inc. equip- ment and receive hands-on training in appropriate use of outdoor power equipment. As part of this project, STIHL Inc. will improve traffic flow
and security at the main en- trance gate, creating individual lanes for employees, visitors and trucks, and update the entry guard house with a co- ordinating design. A separate right-hand turn lane will be added from Avenger Dr. to im- prove traffic flow. Employees affected by the construction will be provided temporary office and work space at the Interna- tional Industrial Center that is adjacent to the campus. The anticipated completion date is late 2019. “STIHL Inc. has continually
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