R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news

ISSUE HIGHLIGHTS Volume 25 Issue 16 Aug. 30 - Sept. 12, 2013 COMMERCIAL RE LAW

Marketed the property on behalf of the seller, Alliance Residential Co. HFF’sWashington, D.C. office closes $92.5m sale of Broadstone Laurel Highlands


ASHINGTON , D.C. — HFF has closed the sale of

mediate access to Interstate 95 and the Lorton Virginia Railway Express (VRE) sta- tion. Completed in 2011, the property features one-, two- and three-bedroom apart- ments plus three-bedroom townhomes averaging 1,119 s/f. Community amenities at the 96 percent leased class-A community include a resi- dent lounge, movie theatre, business center with coffee bar, fitness center, resort-in- spired pool, outdoor fireplace, outdoor grill stations, tennis and basketball courts and a bark park. The HFF team represent-

ing the seller was led by senior managing directors David Nachison and Alan Davis and director Brenden Flood . “The property’s immediate success speaks to the unfilled niche of large apartment homes sought by military and military related families around Fort Belvoir,” said Nachison. “The mix of apart- ment homes, which includes 65 percent two- and three- bedroom floorplans offers residents the opportunity to send students to Fairfax County’s newest, and very highly regarded schools.” ■

Broadstone Laurel High- lands, a 300-unit, class A multi-housing community in Lorton, VA. HFFmarketed the property on behalf of the seller, Alli- ance Residential Compa- ny . MetLife Real Estate In- vestments purchased Broad- stone at Laurel Highlands for $92.5 million free and clear of existing financing. Broadstone at Laurel High- lands is located at 8141 Mc- Cauley Way in Southern Fairfax County offering close


Kislak’s Waisbrod leads apartment sales totaling $9.4m

proximity to the still-expand- ing Fort Belvoir and im- Broadstone Laurel Highlands

Portion of Washington, DC campus plan targeting LEED Gold certification American University awards Skanska USA $78 million contract for new East Campus


WASHINGTON, D.C. — Skanska USA announced that its building business unit was awarded a $78 million contract fromAmerican University (AU) to construct the school’s new East Campus in Washington D.C., a significant portion of AU’s Campus Plan, and target- ing LEED Gold certification. The full amount will be booked in the third quarter for Skan- ska USA Building. The East Campus project will convert the Nebraska Ave. parking lot into an eight-acre mixed use development com-

construction of AU’s new Tenley Campus, which is home to the school’s Washington College of Law (WCL). Skanska is utilizing innova- tive construction techniques to ensure the project is delivered safely and in an environmen- tally-friendly manner that does not disturb the surrounding community. For example, Skan- ska will use prefabrication, constructing major elements of the buildings off-site before they are transported and then assembled on-site at American University. This method will significantly reduce congestion in and around the project site as well as deliver the project on-time with limited on-site working hours. Preconstruction and design on American University’s East Campus is currently underway. The campus will be open for occupancy in fall 2016. The project’s architect and designer is Little Diversified . AU’s Campus Plan is expect- ed to boost the local Washington D.C. economy by providing close to $400 million in new construc- tion and renovation projects along with employment oppor- tunities for local companies. ■


Atlantic City Convention Center Atlantic City, NJ Sept. 9 – 11, 2013

American University rendering

Section C

prised of additional housing, academic and office space. Skanska is responsible for providing construction man- agement services to build the East Campus’ six new build- ings, which collectively total 340,000 s/f. Skanska will also create 345 parking spaces located in underground and surface lots. “Skanska is proud to part- ner with American University in providing state-of-the-art learning and living space to meet the evolving needs of its students,” said Bill Brennan , co-chief operating officer for Skanska USABuilding’s Metro Washington D.C. office. “We have extensive expertise in

higher education construction, and are looking forward to col- laborating with one of the top universities in the country to offer an environment that pro- motes a positive and well-bal- anced lifestyle for the faculty and student body.” AU’s Campus Plan reflects the university’s desire to fur- ther strengthen its growing aca- demic prestige while continuing to be an asset to Washington D.C., as well as an educational, cultural, and aesthetic amenity to the surrounding community. The plan was developed in col- laboration with the District of Columbia Zoning Commission, and includes Skanska’s East Campus project, as well as the


Auction News ...................................... 3-4A Owners, Developers & Managers..Section B Green Buildings ............................ 13-18B Shopping Centers .................. Section C

Upcoming Spotlight September 13, 2013 APPRAISAL SPOTLIGHT


Made with FlippingBook - Online catalogs