Real Estate Journal — February 13 - 26, 2015 — 5A
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M id A tlantic
W Armada Hoffler Properties sells 49,200 s/f office bldg. Divaris inks sale of medical office building for $15.45m ILLIAMSBURG, VA — Michael Di- varis , president of
DTZ selected to manage renovation Beacon Capital leases 112,000 s/f for project
Divaris Real Estate, Inc. , announced that Armada Hoffler Properties has sold the Sentara New Town Medi- cal Office Building to an un- disclosed purchaser for $15.45 million ($314 p/s/f). The 49,200 s/f office building is fully occupied by Sentara Medical Group. The property, which was constructed by Armada Hoffler as a build-to- suit for Sentara in 2008, was under a long-term lease to the group at the time of sale. The building is located at 4374 New Town Ave., within the BALTIMORE, MD — St. John Properties, Inc. has revealed the company’s list of 2014 corporate highlights and accomplishments. The company signed 291 leases throughout its Maryland-Virginia portfolio in 2014, totaling more than 1.7 million s/f of R&D/flex, office, retail and warehouse space. Some highlights are: • Signing the 50th lease at The Government and Technol- ogy Enterprise (The GATE at APG) project, a 416-acre business community located in- side Aberdeen Proving Ground (APG) inHarford County. Since assuming full construction, marketing and leasing rights in 2009 to continue the develop- ment of The GATE at APG, St. John Properties has developed 12 office and research and development (R&D) buildings totaling more than 600,000 s/f of space, and has leased ap- proximately 530,000 s/f of new space. • Launch of the company’s Gaming Division to acquire, stabilize and improve exist- ing casino properties situated throughout the country, as well as develop and construct new projects. • Sale of 16.5 acres of land at Ashburn Crossing in Loudoun County, Virginia for $8.6 mil- lion. The property is located
4374 New Town Ave.
New Town mixed-use complex in Williamsburg. Alex Divaris, CCIM , vice president, and Jason Oliver, CCIM , senior associate, of Di- varis Real Estate's Investment
Sales Group, together with Michael Divaris, represented the seller, Armada Hoffler Properties. The sale reflects a capitalization rate of 6.31% on in-place income. n
MedStar Health at Lafayette Centre rendering
WASHINGTON, DC — MedStar Health has signed a long-term lease agreement with Beacon Capital Part- ners, LLC , to develop a 112,000 s/f ambulatory care campus at Lafayette Centre, between 20th and 21st streets in northwest Washington, DC. Bob Gilbert, president of Med- Star Ambulatory Services, said, “Organizing care around patients’ needs, with respect for their busy work and life schedules, makes it easy and convenient to get care—and a lot less likely that someone will put off seeing a doctor or ignore symptoms altogether. Building facilities around the patient is a proven model for efficient, effective care, and MedStar is excited to be bring- ing this to Washington.” MedStar will occupy 92,000 s/f of the Lafayette Centre’s Building 2, which will be re- named the MedStar Health building. MedStar will have clinical treatment areas and offices on six floors and a dedicated lobby off 21st St. In addition, MedStar will lease 20,000 s/f of Building 1 on 20th St. This space will be redeveloped as a sports medi- cine center that will serve all levels of athletes and weekend warriors in the District and surrounding communities. The MedStar Surgery Cen- ter, which has served the community for more than 35 years at its 19th St. location, will also be relocated to the MedStar Health building, with state-of-the-art surgical capabilities. Primary care and specialty physicians currently
practicing nearby will relocate their offices to the center. “Our physicians look for- ward to working in a setting that brings together primary and specialty care, and a range of other clinical and diagnostic services,” said Andrew Lee, MD, regional primary care medical director for MedStar Medical Group. “This center will make clinical collabora- tion as seamless as possible, benefiting both the patients and the clinical team. It is a significant development in improving the way health care is being delivered today.” Services at MedStar Health at LafayetteCentrewill include: • Men’s health • Women’s health • Primary and preventive care • Heart and vascular care • Orthopaedics and sports medicine • Rehabilitation • Same-day surgery • Full-service medical imaging • Laboratory services • Other specialty services The new facility will have dedicated patient parking spaces in the Lafayette Centre garage. “One of the attrac- tive features of this location was its convenient access and parking, with a 533-car garage and two entrances off 20th and 21st streets,” said Gilbert. The location is also close to Metro’s Orange, Blue and Red lines. The center is expected to be operational in mid-2016. DTZ (formerly Cassidy Turley ), a commercial real estate ser- vices firm, has been selected to manage the renovation for Beacon Capital. n
St. John Properties 2014 highlights include 97,000 s/f lease with Cisco Systems in MD
8135 Maple Lawn Blvd.
ing in the Maple Lawn mixed- use community in Howard County. “2014 was a very good year for St. John Properties, as our team exceeded every leasing, acquisition, sales and construc- tion goal, as well as establish- ing strong momentum as we move into 2015,” said Larry Maykrantz , president of St. John Properties. “We remain among the few commercial real estate companies in the Mary- land area that anticipate the marketplace and consistently construct speculative real estate projects. In addition, our leasing and retention rate exceeds the industry standards, based on our ability to identify and satisfy the real estate requirements of our more than 2,000 clients.” n
along Gloucester Parkway. • Groundbreaking for a new 12-screen, 45,000 s/f movie the- atre for R/CTheatres at Lexing- tonExchange, amixed-use proj- ect located at the intersection of Three Notch Rd. and Wildwood Blvd. in California, MD. • Acquisition of a three- building, 125,000 s/f office/flex portfolio located in Sterling, Virginia for $11.65 million. St. John Properties now owns and manages more than 570,000 s/f of office and flex space in the Northern Virginia market, and owns approximately 83 acres of land for several future develop- ment projects. • Signing of a 97,128 s/f lease with Cisco Systems, Inc. at 8135 Maple Lawn Blvd., a four-story, 138,900 s/f class “A” office build-
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