VIRGINIA BEACH, VA—Locally-based development firm Armada Hoffler Properties reported in its latest financial report that its mixed-use 4525 Main St. office-retail building currently under construction here has half of its office space pre-leased.

ROCKVILLE, MD—Federal Realty Investment Trust of Rockville, MD has scheduled a ribbon cutting for its $4.8-million renovation of its The Crest at Congressional Plaza apartment community here for Friday, June 6.

WALTHAM, MA—Northland Investment Corp. of Newtown, MA reports it has closed on a $98-million construction financing package for its Moody & Main On the Common transit oriented development project.

CHARLOTTE, NC—Locally-based Extended Stay America, Inc. reports that subsidiary, ESH Hospitality, Inc. is looking to raise a $375-million senior secured term loan.

LEWISBURG, TN—An affiliate of New York City-based Lexington Realty Trust reports it has closed on the acquisition of a newly constructed warehouse and light manufacturing building that is leased to Calsonic Kansei North America, Inc.

EDISON, NJ—CBRE Group completed the renewal of an industrial lease of 193,100 square feet by Performance Team Freight System sat 145 Talmadge Rd. here..

WILLOW GROVE, PA—The Horsham Land Redevelopment Authority has pared down the list of prospective development teams interested in overseeing the redevelopment of the former Willow Grove naval air base here.

NEW YORK CITY—Former Morgans Hotel Group CEO Edward Scheetz reports he has launched a new hospitality brand, Chelsea Hotels, a re-brand and evolution of the former King & Grove Hotels.