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Alexandria live-work building being offered for sale

The 200-unit Alexandria e-lofts is being offered for sale after a mix of office dwellers and residents boosted occupancy in the building to past 90 percent, validating the concept of creating a live-work concept from a former office building.

Holliday Fenoglio Fowler LP (NYSE: HF) has begun marketing 4501 Ford Ave. on behalf of its owner, an affiliate of Cafritz Interests division Novus Property Holdings LLC. The project was created from office space vacated by the Department of the Army, and is now almost fully leased to a mix of office users and residents, according to HFF Senior Director Brian Crivella.

“There’s office folks who are using it as we thought they would be, and there’s residents who are also leasing units in the building,” Crivella said. “They’ve leased it up and stabilized it, and decided it’s a good time to liquidate. I think the concept has proven to be successful.”

HFF, which originally capitalized the project for Novus, began marketing the property about two months…

Read the full story from the Washington Business Journal.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
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