SPARROWS POINT, MD. — FedEx Ground, the small package delivery unit of FedEx Corp., has opened a new distribution facility at Tradepoint Atlantic, a 3,100-acre global logistics center in Sparrows Point, roughly 15 miles southeast of Baltimore. The 307,000-square-foot facility connects existing FedEx Ground stations located in White Marsh and Halethorpe, and will support approximately 275 full- and part-time jobs, as well as 150 contracted service providers. FedEx occupies 50 acres within the..
FORESTVILLE AND CAPITOL HEIGHTS, MD. — Federal Capital Partners (FCP), in a joint venture with Urban Atlantic, has acquired two apartment assets in metro Washington, D.C. for a combined $44 million. Christine Espenshade and Robert Garrish of JLL arranged the transaction on behalf of the buyer. Located at 5521 Marlboro Pike in Forestville, Holly Springs Meadows is roughly 12 miles southeast of Washington, D.C. The pet-friendly community features modern kitchens, a playground and open courtyard..
GAITHERSBURG, MD. — Buchanan Partners, in a joint venture with Elion Partners, has acquired a 700,000-square-foot industrial portfolio in suburban Washington, D.C. A joint venture between Ares Capital Corp. and Adler Group sold the assets for $81.2 million. The 14-building portfolio is spread across three different office parks along the Route 28 corridor in Northern Virginia: 3680-3863 Centerview Road in Dulles Business Park, 14420-14434 Albemarle Point Place in Westfields North and..
BALTIMORE — Goldman Sachs has committed $233 million to the Port Covington redevelopment project in Baltimore. This is the largest single private equity investment made by the firm’s Urban Investment Group (UIG) to date, according to a Port Covington news release. Port Covington is a 235-acre mixed-use redevelopment located on Baltimore’s waterfront adjacent to I-95. At completion, the 25-year project will include up to 18 million square feet of retail, entertainment, office, hotel and..
WINDSOR MILL, MD. — Marcus & Millichap has arranged the $4.7 million sale of a 94,851-square-foot retail property net-leased to Shoppers Food & Pharmacy in Windsor Mill, roughly 13 miles west of Baltimore. Preet Sabharwal and Michael Soleimani of Marcus & Millichap represented the seller, Jacqueline A. Mickiewicz Trust, in the transaction, and procured the buyer, a limited liability company. The property is located at 8212 Liberty Road at the corner of Liberty and Rolling roads.
Anxiety and hand-wringing about the future of retail were evident at this year’s ICSC RECon event, as developers, retailers and restaurant operators continue trying to make sense of the persistent march of online buying, while also looking to inject new enthusiasm into the bricks-and-mortar shopping experience. In the greater Baltimore metropolitan region, we are experiencing many of same issues as the balance of the country. But, like always, we believe this region has several built-in..
BALTIMORE — Natixis has served as lead arranger for a $125 million senior loan for the construction of an 800,000-square-foot mixed-use property in Baltimore. Natixis, M&T and CIT are providing the capital. In addition, HFF arranged $44 million in mezzanine financing through Bridge Investment Group Holdings. The HFF debt placement team representing the borrower included Mark Remington, Brian Crivella and Drake Greer. Madison Marquette is developing the property, which is named One..
ODENTON, MD. — Crows Holdings Capital – Real Estate has purchased NOVUS Odenton, a 244-unit multifamily property in Odenton, roughly 30 miles northeast of Washington, D.C. The sales price was not disclosed. Walter Coker and Brian Crivella of HFF marketed the property on behalf of the seller, a joint venture between Cafritz Interests and Clark Enterprises Inc. Located at 315 Nevada Ave., NOVUS Odenton is within walking distance of the Odenton MARC train station, which provides service to..
HYATTSVILLE, MD. — Greysteel has brokered the $10.3 million sale of Courtyard Park, a 94-unit apartment community in Hyattsville, roughly seven miles northeast of Washington, D.C. Signature Properties acquired the property from CRG Cos. Kyle Tangney, Herbert Schwat and Ari Azarbarzin of Greysteel negotiated the transaction. Located at 4201-4213 Oglethorpe St., Courtyard Park, constructed in 1948, comprises seven four-story buildings.
LOS ANGELES, WOODLAND HILLS, CALIF. AND LAUREL, MD. — Bellwether Enterprise Real Estate Capital LLC has arranged three loans totaling $185.1 million for the refinancing of a multifamily portfolio located in California and Maryland. The portfolio consists of three properties totaling 1,384 units. The assets include: Avalon Russet in Laurel, Md.; eaves Woodland Hills in Woodland Hills, Calif.; and eaves Los Feliz in Los Angeles. Kip Kimble of Bellwether Enterprise arranged the 10-year..