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Fire Department Waits for the Right Buyer
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Jerry A. McCoy, president of the Silver Spring Historical Society, said the stretch of Georgia Avenue south of downtown near the fire station is one of the last examples of pre-boom Silver Spring. He said he worries that developers will snap up the one- and two-story buildings and replace them with high-rise condominiums.
"It's like this virtual time capsule of what a small town looked like," he said. "You have these communities all over America building these faux main streets, and we've got it right here in Silver Spring. We're preparing ourselves for preservation battles."
Suitland Manor Deadline
The Prince George's County Redevelopment Authority is taking proposals for the Suitland Manor project through Oct. 16. The 33-acre site in the 4700 blocks of Homer, Hudson and Huron avenues has been ridden with crime in the past. The authority wants a mixed-use commercial and residential development to take the place of the 700 residential units there now, said Thomas M. Thompson, director of the county's Department of Housing and Community Development.
Most of the residential properties date at least to the 1960s and are in poor condition. The Redevelopment Authority is close to buying all of the old buildings, Thompson said. It has started relocating the residents.
Thompson said his agency will settle on a developer by year-end. The project is expected to cost more than $80 million.
Closings
· Clark Construction Group LLC of Bethesda will put up the first building at Overlook Towers at Dulles Corner, a nine-story, 217,000-square-foot office property near the Dulles Toll Road. Vardell Realty Investments LLC awarded the contract and Millennium Realty Advisors LLC is doing leasing for the project, which is due to be finished in fall 2007.
· Boston-based Colony Realty Partners bought 1800 Alexander Drive, a six-story, 138,000-square-foot office building in Reston, for about $33 million. The building is fully leased. Cassidy & Pinkard Colliers was the broker.
· Columbia Equity Trust bought a three-story, 102,000-square-foot office building in Gaithersburg for $26.7 million. The building, at 101 Orchard Ridge Drive, is fully leased to six tenants.
· CB Richard Ellis said it has been named exclusive agent to lease the 12-building Avenel Business Park in Gaithersburg, which has lab, flex and office space. The complex is owned by Saul Centers Inc. of Bethesda.
Staff writer Dana Hedgpeth, who covers commercial real estate and economic development, contributed to this report. Her e-mail address ishedgpethd@washpost.com.
