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ALEXANDRIA, VA. — USAA Real Estate Co. has acquired a 621,774-square-foot office complex located in the Crystal City submarket of Alexandria, near Washington, D.C. Known as Potomac Yard, the property comprises two 12-story, Class A towers. One Potomac Yard contains 315,231 square feet, and Two Potomac Yard contains 306,543 square feet. The U.S. Environmental Protection Agency (EPA) is the main tenant, leasing all of One Potomac Yard and approximately half of Two Potomac Yard. Government agencies including the Army Corps of Engineers and Agency for International Development lease almost all of the remaining space. Private company Thales also leases space in the complex. With the EPA as the primary tenant, it is no surprise that both properties feature several sustainable components. The buildings put an emphasis on creating an ideal indoor habitat with high-efficiency ventilation systems, low-VOC interior materials and carbon dioxide monitors tp adjust the amount of fresh air entering the building. The buildings also feature abundant daylighting. Low-flow fixtures also provide water savings of more than 30 percent. Both buildings achieved LEED-Gold certification upon their completion in 2006. One Potomac Yard also received Energy Star certification in 2007 and 2008, and the LEED for Existing Buildings – Gold …

HOUSTON — Renowned land developer Coventry Development Corp. has announced plans to create a new master-planned community in the greater Houston metropolitan area. Known as Springwoods Village, the new community will be developed on approximately 1,800 acres located along Interstate 45 approximately 30 miles north of downtown Houston. While the community will be slowly developed along a 15- to 20-year timetable, initial plans call for 4,500 to 5,000 homes, 8.5 million square feet of commercial office space and 1.2 million square feet of retail space. The residences will comprise a mix of single-family homes starting at $200,000 as well as luxury rental units and urban-style condominiums priced between $100,000 and $400,000. According to a preliminary site plan, the single-family homes will be situated in a low-density area on the project's western end, while the apartments and condos will be situated in medium- and high-dentiy areas on the eastern side of the project. Farther east of the residential zones will be a mixed-use, town center-style area and an office/commercial zone that will front the interstate. As the community is built out, schools, libraries and emergency services will be constructed. One of the highlights of Springwoods Village is its commitment to sustainability, …

MINNEAPOLIS — Though it is not expanding at the pace it has in recent years, mega retailer Target is still very active. Ryan Cos., which maintains a headquarters in Target's hometown of Minneapolis, is currently completing renovations on nine for the retailer's distribution facilities. Work was recently completed at Target distribution centers in Shafter, Calif.; Lake City, Fla.; Cedar Falls, Iowa; and Lugoff, S.C. Construction at these facilities, like all of the projects, focused on installing technology upgrades that would make the centers more efficient. In addition, the Shafter facility was expanded by approximately 250,000 square feet, and the Lugoff facility was expanded by 452,000 square feet. Construction is currently under way at distribution centers in Phoenix; Rialto Calif.; Pueblo, Colo.; Amsterdam, N.Y.; and Denton, Texas. Of the projects under construction, the Amsterdam facility is being expanded by approximately 410,000 square feet, and the Rialto facility is being expanded by 250,000 square feet. Ryan is also completing smaller projects at Targets across the country that are part of the company's strategy to remodel the stores' grocery sections. The highest numbers of these projects are taking place in the California and Twin Cities markets. “This last year has been a lot …

OAHU, HAWAII, AND INDIAN WELLS, CALIF. — Johnson Capital has arranged $48 million in non-recourse, permanent financing for two shopping centers owned by affiliates of Newport Beach, Calif.-based Stoneridge Capital Partners. The properties include Mililani Shopping Center in Oahu and The Villages at Indian Wells in Indian Wells. The loan carries a 10-year term and a fixed rate. Amos Smith and Ryan Chapman of the Irvine, Calif., office of Johnson Capital secured the funds in the transaction. In a statement, Smith says that both centers were well performing but the pending lease expirations of the both properties' anchor tenants made some potential lenders hesitant to provide the loan. However, Johnson Capital was able to secure financing through Hartford, Conn.-based Cornerstone Real Estate Advisors. Mililani Shopping Center is located at the intersection of Kuahelani Avenue and Kipapa Drive in Oahu's Mililani Town submarket. It was constructed in 1977 and totals 180,000 square feet. Major tenants at the fully occupied center include anchor Foodland, Ross Dress for Less and 24 Hour Fitness. The Village at Indian Wells is located at the intersection of Highway 111 and Cook Street within Southern California's Inland Empire. It was built in 1977 and contains 180,000 square …

ROSSLYN, VA. — Monday Properties will break ground next month for a $300 million speculative office building in the Washington, D.C., suburb of Rosslyn. The tower will contain 580,000 square feet and rise 35 stories — making it the tallest office tower in the Metro D.C. area. The project will be built at 1812 North Moore St. It is being constructed with sustainability in mind, and the finished building will save an estimated 24.5 percent in energy usage and 40 percent in water usage compared to a traditional building. Monday Properties is also enacting a construction waste diversion program, and the tower is being built with high-efficiency management and HVAC systems. It will be constructed in anticipating of receiving Platinum-level certification under the LEED – Core & Shell designation and Gold-level certification under the LEED – Neighborhood Development program. Monday Properties states that if the project receives LEED-Platinum certification, it will be the first office tower in Virginia to receive it. Doug Carter of DCS, Ltd. is designing the tower. Completion is anticipated for fall 2013. In a statement, Monday President and CEO Anthony Westreich said, “We completed our entitlement of 1812 North Moore Street with Arlington County nearly three …

WALTHAM, MASS. — Boston Properties has announced its intention to acquire Bay Colony Corporate Center in Waltham for approximately $185 million. Boston Properties is purchasing the campus from Prudential Financial, which took over the troubled asset from its previous owner in May. Bay Colony Corporate Center contains 980,000 square feet of Class A office space in four buildings. The 58-acre campus was constructed in phases between 1985 and 1998. It features views of the Boston skyline as well as Cambridge Reservoir. Earlier this year, the property was also certified LEED-Silver. Its primary tenant is United Health Care. Under the terms of the deal, Boston Properties would pay $41.1 million in cash and assume the property's $143.9 million mortgage. The loan carries a 6.53 percent fixed interest rate. It requires interest-only payments and has a balloon payment due at maturity in June 2012. The transaction is expected to close in the fourth quarter. Pending closing, Boston Properties could not comment on the deal. — Coleman Wood