Commercial real estate roundup, 2/28/11

Original Article on VirginiaBusiness.com – 2/28/11

Optimism seems to be blooming like spring flowers with several new projects in the pipeline in Loudoun and Stafford Counties and Virginia Beach. This and other real estate news from around the state:

LOUDOUN COUNTY — Miller and Smith, a private, McLean-based developer, is teaming up with a Japanese company to build One Loudoun, a 358-acre mixed-use project. It’s designed to include 1,040 residential homes, 702,000 square feet of retail, a luxury hotel and movie theatre, 3 million square feet of office space, a community center and 150 acres of public land and walking trails. This is the first investment in the U.S. by Sekisui House Ltd., a public company based in Osaka. The partnership moves ahead a project that originally got under way in 2007. More than $30 million in infrastructure already has been completed. Construction will begin immediately on South Village, a 60-acre tract designated for 168 single-family homes, 146 town homes, 39,000 square feet of retail and 124,000 square feet of office. Site work also will get under way on Loudoun Downtown, a 100-acre parcel. One Loudoun also is the future home of World Trade Center Dulles Airport, a nonprofit membership group of the larger World Trade Centers Association, that would assist foreign companies locating in the region.

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