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 CHEVY CHASE Asking price: $2,795,000 Selling price: $2,900,000 |
Address: 4501 Drummond Avenue,
Chevy Chase, MD |
In the case of 4501 Drummond Avenue in Chevy Chase, a true one-of-a-kind. Built in 1903, this spectacular stone home offers a unique bit of history in that it used to be the water supplier for the tiny village of Drummond (original water tanks, located above the carriage house, are still in place). But don’t think it’s old and decrepit. This five-bedroom hidden gem on three quarters of an acre (with a lush walled garden with patio and seating areas) was recently renovated. The floor plan includes a state-of-the-art gourmet kitchen, grand salon, formal dining room, library, parlor, sunroom and guest bedroom suite, all on the main level. As you climb the steps to the second level, you see a functional antique bowling alley on the landing, complete with wooden pins and balls. The home’s new owners, out-of-towners who snapped up the property immediately after it was listed (zero days on the market), searched long and hard for their dream house. Now they get to play.
BETHESDA Asking price: $2,195,000 Selling price: $2,000,000 |
Address: 7200 Armat Drive,
Bethesda, MD |
It’s unusual to find a home on more than 2 acres inside the Beltway, but the stately brick Georgian home at 7200 Armat Drive in Bethesda’s Burning Tree neighborhood came with that and more. The home offers four finished levels, two gatehouses, a large pool and a cabana. One gatehouse is used for storage, while the other contains a “summer kitchen” great for entertaining. All of the rooms are quite large, says listing agent Lois Robins, who adds that the home includes details such as exquisite moldings, archways and oak peg flooring.
 SPRING VALLEY Asking price: $1,995,000 Selling price: $1,995,000 |
Address: 5011 Sedgewick Street,
Washington, DC |
A classic whitewashed colonial in Spring Valley sold
for the asking price — just $5,000 shy of $2 million — in only
two days on the market. It has four finished levels; the
renovated interior boasts a gourmet kitchen and sunny
breakfast area, elegant rooms with high ceilings, crown
moldings, custom millwork and hardwood floors. Other perks:
his and her baths and an oversized garage.
Commercial: Five Buildings, River Views
Nearly 600,000 Square Feet on the Potomac Sells for $141.5 million
by Stefanie Berry StarkCarrAmerica, the Washington, DC-based real estate investment trust that owns, develops and operates office properties in 12 U.S. markets, recently shelled out $141.5 million for more than half a million square feet of prime Old Town Alexandria office space.
CANAL CENTER Purchase price: $141.5 million |
Location: Canal Center and 1199
North Fairfax Street, Alexandria, VA |
The acquisition included the Canal Center Plaza complex (four buildings, known as Plaza 1-4) and an office building called Plaza 5 at 1199 North Fairfax Street, adjacent to Canal Center. The five buildings total 592,645 square feet of space offering unobstructed views of the Potomac River.
 DOWNTOWN & RESTON Leasing price: Unavailable |
Location: 901 New York Avenue, NW,
Washington, DC, and Reston Town Center, Reston, VA
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The largest intellectual property law firm in the world, Finnegan, Henderson has more than 300 attorneys in seven offices, with more than 200 attorneys in DC alone. The firm expects the number of its Washington attorneys to increase to more than 300 by 2005 and require 350,000 square feet of space. Finding that amount of Class A space downtown is an almost insurmountable challenge, so the firm opted for a creative strategy: reduce its downtown requirement to 250,000 square feet and move some attorneys and support staff to Virginia, where the cost of space is more than 25 percent less. The result? Finnegan expects to cut costs by 20 to 30 percent per attorney in the next 12 years.
 THE CENTER AT HAGERSTOWN Purchase price: $41.7 million |
Location: The Center at Hagerstown,
Interstate 81 and U.S. Route 40 in Hagerstown,
MD |
Shopping, anyone? Washington Real Estate Investment Trust (WRIT) has acquired the Center at Hagerstown, a 326,846-square-foot shopping mall built in 2000 and situated on 38 acres at the intersection of Interstate 81 and U.S. Route 40. Borders Books Music & Café, Marshalls, Office Max, Bed Bath & Beyond, Petsmart and Circuit City are some of the national retailers that anchor it. A Wal-Mart and Home Depot also anchor the center but own their buildings and are not part of the transaction. The Center is 98 percent leased to 30 tenants. “The Center at Hagerstown presents a terrific opportunity for WRIT to invest in a quality regional shopping center with an excellent interstate location and an extended trade area,” says Edmund Cronin, Jr., the chairman and CEO of WRIT.