ALBUQUERQUE, N.M. — Firm buys offices in Philly, Virginia
Santa Fe-based Rosemont Realty has purchased two prime office properties in Philadelphia and northern Virginia, bringing its real estate portfolio to about 17 million square feet of office space valued at more than $1.6 billion.
In Philadelphia, Rosemont bought the 29-story 2000 Market Street building, which has 665,659 rentable square feet and is 95 percent occupied. In the Washington-Dulles International Airport area, Rosemont bought Dulles View, a pair of eight-story office towers with 360,045 square feet that’s 94.5 percent occupied.
The sales prices were not disclosed. Both properties were sold by a fund controlled by CBRE Global Investors.
Funds support Four Corners area
FARMINGTON – ConocoPhillips this week announced $689,440 in donations to nonprofit groups, educational organizations and local government agencies in the San Juan Basin.
The total included a $300,000 check for San Juan College’s School of Energy building that is expected to break ground this fall.
Donations also went to organizations such as the Special Olympics of New Mexico, Bloomfield Fire Department and the Farmington Boys and Girls Club. The grants were announced at ConocoPhillips’ annual philanthropic luncheon at Courtyard By Marriott.
Colo. regulators reject Xcel request
DENVER – The Colorado Public Utilities Commission has rejected Xcel Energy’s efforts to recoup the last $17 million in costs for its SmartGridCity project.
The cost of the Boulder-based pilot project has nearly tripled to $45 million. Xcel has recovered $28 million of the cost through customer rates and wanted customers to pay the rest.
According to the Denver Post, SmartGridCity had been billed as the nation’s first comprehensive experiment of the smart grid, which uses communication and computer technology to manage electricity flows.
German firm drops solar business
BERLIN – Germany’s Bosch says it is abandoning its solar energy business because there’s no way to make it economically viable amid overcapacity and price pressure in the industry.
The engineering company said Friday that it will stop making components such as solar cells and wafers at the beginning of next year. It says it will sell a plant in Venissieux, France, and is abandoning a plan to build a new plant in Malaysia. Bosch’s move comes after German industrial conglomerate Siemens last October announced plans to give up its loss-making solar business.