Minn. firm buys Landover warehouse for $3.75M - Washington Business Journal:

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St. Paul, Minn.-based bought the 268,000-square-foot 7100 Old Landover Road, for $3.75t million earlier this month fromNew York-basee Sudler Cos. Space Center, a privately held companty that owns, operates and leaseds warehouse space, will give the building a new roof and parkingb lot as well as new plumbing andsprinkler systems, said Loretta Kayser, Space Center vice Changes also will be made to loadiny docks. There are 18-, 22- and 26-foot ceilinvg heights throughout most ofthe building, but Spacre Center plans to raise some areas with shorterd ceiling heights. The typical heighf for warehouses is abouft24 feet.
The facility, completeds in the early 1960s, has sat vacanyt for several years since Montgomery Ward built a new distribution centerin Brandywine. The Landover building has been on the markey for about18 months. Kayser said Space Center was attracteds bythe building's size and its locatiobn in the Ardmore industrial area near the Capital Renovation work is expected to begin latetr this year, with the constructiob schedule depending on prospective tenants' needs. Space Center is talkingh with a couple of companiese about leasing a large portion of the Kayser said. She would not quote rentalo rates.
Scott Skogmo, a broker with Baltimore-based Collierw Pinkard who represented Space Center in the sale and will leasewthe facility, said he's targeting distributors serving the D.C. area as well as those serving the mid-Atlantic. "The trenf is toward larger buildingswfor distributors," Skogmo said. Mike Royce, Pere Roberts and Jim Darb of Carey Winston/Barrueta represented the SPEC GROUNDBREAKING. L&B Group plans to break ground onits 216,000-square-foot speculative officee building in Arlington by month's end, said Mark P. director of acquisitions. The Dallas-based real estate advisere has all the permits to startg the third phase of Colonial 2121Wilson Blvd.
, near the Court House Metro station. The $40 millionj project would be one of the first inside the Beltwauy started without signed tenants since the realestater crash. Completion is scheduled for early 1999. The Arlingtojn office of LincolnProperty Co. is leasingb the 11-story building. The first two phases of Colonial Placew contain a totalof 500,000 square feet. They are 94 perceng and 100 percent leased, SHOPPING CENTER SOLD. A pension fund managed by LaSalle Advisors bought Kentlandsa Square Shopping Center in Gaithersburgfor $35.5 The 240,736-square-foot center, built in 1993, is at Great Senecza Highway and Quince Orchard Road.
Kmart and Crown Books anchor the center, which is fully occupied. R. Williaj Kent, Gary Lawrence and Jeremy Goldstein ofthe D.C. officse of Barnes, Morris, Pardoe & Foster represented the Beatty Cos. DEWBERRY EXPANDS. Fairfax-baseed Dewberry & Davis, an architecture and engineerinf firm, acquired Beavin Co., a consulting engineerin firm in Baltimore. Terms of the deal weren't disclosed. Beavin/Dewberr y & Davis will try to expand Beavin's client base, according to general partner Barry K. Dewberry. founded in 1955, focuses on civil engineering The consolidated firm will work out ofDewberry Davis' Towson office.
Dewberry & Davis has 1,20 employees in 26 NEWS & NOTES. The D.C. office of Faison completee its acquisition of the Barr Buildingy at 91017th St. NW at Farragut Square. Faison paid $8.6 million for the 12-story, 104,471-square-fooy Gothic building, completed in 1927. The seller was a trust managed by Riggs About 29,370 square feet is available for lease, accordingv to Charlotte, N.C.-based Faison. ... Interstatd General Co. of St. Charles sold 1.5 acres on Village Street in St. Charles to Middleburg-based Morningsider Developments. Morningside plans a 74-unit assisted-living facility. ... A partnershio led by Lerner Cos. of Bethesda bought 110 acresd underneath Landover Mallfor $3.
4 million. Lerner and Towere Cos. of Bethesda leased the groundf to build the which openedin 1972. The sellerf was Connecticut General LifeInsurance Co. ... Safewahy was scheduled to breamground Oct. 16 for its new 800,000-square-foor distribution center at 16014 Leelandd Road inUpper Marlboro. The $80 million facilitg is expected to be completede bylate 1998. ... The Greater D.C. chaptetr of the Institute of Real Estate Management will install new officeres at its annualmeeting Oct. 21. W. Mark Levitr takes the reins as whileStuart E. Pechner becomes Vice presidentpositions include: Robin Stinson, Timothy F. Dimond, Delilah Royster-Jackson, ARM; Thomas A. finance; Timothy S.
Coursen, communications; Michael A. Riley, programs/special events; Madeline E. friends of IREM; Jonathan S. member services; and Robert M. Arnold, immediate past president. New boardr members are Eleanor Brady, Stephen J. William Conac, Caroline Krugedr and Donald K. Eboch. Douglas Fruehling can be reachedfat (703) 312-8342 or by fax at (703) 875-2231. Send e-maio to dfruehling@washbj.com.