Virginia Businesses in the News


Real Estate

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

Vie de France Yamazaki, a foodservice bakery and retail operator, extended its corporate headquarters lease on Chain Bridge Road, Vienna. After subleasing and restructuring its lease, the firm extended the lease on 24,298 square feet of space by eight years. (06/22,2004, Press release)

HRPT Properties, a Maryland real estate investment trust, bought Oceana Place, a three-story Class A office building in the Lynnhaven submarket of Virginia Beach for $6.75 million. Oceana Place is 75,369 square feet in area on 7.46 acres and is 90 percent occupied. (06/21/2004, Press release)

Hampton-Newport News Community Services Board bought Hampton Professional Center from Hampton Medical Center for $8.7 million. Plans call for development of Virginia’s largest community mental health facility on the 13.4 acre site on Medical Way in Hampton. (06/16/2004, Press release)

Circuit City, a Richmond-based consumer electronics retailer, announced plans to sell properties on Thalbro Street in Richmond that formerly housed its corporate headquarters and the company’s original superstore. The 40,000-square-foot superstore was the forerunner of the consumer electronics format used by Circuit City and adopted by its chief rival Best Buy. (06/16/2004, Richmond Times-Dispatch)

First Potomac Realty Trust of Bethesda, Md. paid $11.2 million for the Aquia Commerce Center I & II in Stafford County, a two-building, 64,000-square-foot flex property. (06/07/2004, Business Wire)

LaSalle Hotel Properties, Bethesda, Md., purchased The Hilton Alexandria Hotel in Old Town for $59 million. The 241-room facility has 8,000 square feet of meeting space and will continue to operate under a Hilton franchise agreement. (05/28/2004, Business Wire)

Equity Office Properties Trust of Chicago purchased American Center in Tysons Corner for $60.5 million. The two eight-story, Class A office buildings comprise 328,741 square feet. Equity Office already owns four office buildings in Tysons Corner totaling 732,000 square feet. (05/27/2004, Business Wire)

PS Business Parks, based in Glendale, Calif., acquired Fairfax Executive Park, a 165,000-square–foot office complex in Fairfax for $22.4 million. The two three-story buildings and four one-story buildings are 82 percent leased. (05/27/2004, Press release)

Emerald Harbour purchased Chelsea Commons in Chesapeake’s Greenbrier Business Park for $1.2 million. The 12,400-square-foot building will be used as office space. (05/27/2004, Press release)