Merkle, a privately held database marketing agency, said it would move its corporate headquarters from Lanham to the Columbia Gateway business park. The company, which has about 1,000 employees, is planning a $65 million campus, beginning with a five-story, 120,000-square-foot Class A building with space for up to 550 employees. Construction is to begin in April and be completed in June 2008.
The 127,000-square-foot office buildingat 1129 20th St. NW in the District is about to get bigger. Republic Property Trust of Herndon said it would redevelop it into a 171,000-square-foot building with a "vertical expansion" -- adding a ninth and 10th floor, with floor-to-ceiling glass on all four sides. Construction is to begin next month.
CoStar Group of Bethesda, a commercial-property information provider, announced the acquisition of British firm Property Investment Exchange, known as Propex. It provides commercial real estate information and services in Britain. The price was $22 million in cash and stock.
The D.C. Fiscal Policy Institute, in a new report, calls on District government to ensure that the $170 million in subsidies to the private developers of the proposed convention center hotel include guarantees of jobs for D.C. residents. The report suggested that the District require businesses seeking subsidies to specify how many jobs will be created as well as expected wages and benefits, and include a "clawback" provision to reclaim the money if the targets are not met.