Mid-Atlantic

The Washington, D.C., office market may have reached a turning point in demand as the region experienced improved fundamentals last quarter—figures propelled by expanded demand for government office space. And if deals like the recent $73 million sale of an office building in Falls Church, Va., are any indication, buyers are taking interest in the area’s strong demographics..

A convenient method for property owners to secure a quick cash infusion, sale-leaseback transactions were plentiful just a couple of years ago, but now it is usually only the more financially burdened of sellers that resort to accepting lowball sale-leaseback offers. Whether White Oak Petroleum L.L.C. falls into the aforementioned category is unclear, but the Springfield, Va.-based company just sold 36 Exxon gasoline station and convenience store properties for $49 million in a sale-leaseback transaction with Jericho, N.Y.-based Getty Realty Corp.

A joint venture between Behringer Harvard REIT I Inc. and PGGM Private Real Estate Fund has acquired a 308-unit multi-family community in Cherry Hill, N.J., about seven miles east of central Philadelphia.