- The Washington Times - Thursday, August 26, 2004

One of the newest and most unique apartment complexes in the area is getting some residents, even before construction is completed.

Arlington County approved a Certificate of Occupancy for the first portion of The Clarendon, a 292-unit project across the street from the Clarendon Metro Station.

The complex features a 12-story tower with 151 units connected to a four-story building via an archway that crosses 12th Court North. The four-story building — the portion available for occupancy now — was designed to resemble town houses to provide a visual transition from the nearby houses, according to the projects developers, Elm Street Development of McLean and Clark Realty Capital of Bethesda.

One- and two-bedroom units range in rent from $1,400 to $2,300 per month.

Construction is still being completed at the high-rise portion of the complex, where The Clarendon is following a trend by offering “loft”-style apartments that have high ceilings, exposed concrete floors and ductwork and spiral staircases. Other apartment designs feature balconies and private terraces, and all units are wired for high-speed Internet access and satellite TV.

When completed later this year, The Clarendon will have an outdoor pool with a deck, and business and fitness centers open 24 hours. There also will be three levels of underground parking.

Kossow goes industrial

Kossow Management knew that fully leased industrial properties do not come on the market very often, particularly if they are near major highways.

The Rockville real estate firm paid Lockport LP $2.9 million for a two-building, 44,000-square-foot warehouse complex off I-95 in Lorton. It is only the fourth industrial building sold in Northern Virginia this year, and one of the cheapest, at $65.90 per square foot, according to research firm Delta Associates. The sale is just the 35th industrial property sold in Northern Virginia since the beginning of 2001. Sixty-one industrial buildings were sold in the past three years.

“The property will continue to increase in value, as purchase opportunities are rare in the current real estate environment,” said Chris Kubler, a broker with real estate services firm NAI KLNB, which negotiated the sale.

In other news …

• Dallas real estate investment firm Behringer Harvard Funds bought the Colorado Building, a 126,000-square-foot office building two blocks from the White House in the East End of downtown.

• Hubert Construction of Gaithersburg said it expects to complete a renovation of the facade on 1411 K St. NW, a 65,000-square-foot office building, by next month.

• Consulting firm Wexford International Group Inc., leased 11,797 square feet from Atlantic Realty Cos. at 8618 Westwood Center Drive, a four-story office building in Tysons Corner. Grubb and Ellis helped broker the lease; terms were not disclosed.

• Real estate Web site GlobeSt.com reported that the Shorenstein Co. of San Francisco and real estate investor David Warner paid philanthropist Laszlo Tauber $156 million for 1111 Pennsylvania Ave. NW. The 14-story, 330,000-square-foot building houses the Morgan, Lewis and Bockius law firm.

Tim Lemke can be reached at [email protected]washingtontimes.com or 202/636-4836.


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