REBusinessOnline

St. John Properties Breaks Ground on Three Buildings in Maryland Industrial Park

FREDERICK, MD. — St. John Properties has broken ground on three buildings within Arcadia Business Park in Frederick, about 50 miles west of Baltimore. The buildings will total 200,000 square feet when complete and represent Phase I of construction at the 61-acre industrial campus. Arcadia Business Park will total 600,000 square feet across eight buildings at full buildout. Phase I is expected to deliver in the

Greystar, Rockpoint Group Sell Student Housing Community Near University of Maryland for $235M

COLLEGE PARK, MD. — Joint venture partners Greystar Real Estate Partners LLC and Rockpoint Group have sold University View, a 1,573-bed student housing community located adjacent to the University of Maryland in College Park. The $235 million sale marks the largest single-asset student housing trade in U.S. history, according to Greystar. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE National Student Housing, along with William Roohan and Michael Muldowney of CBRE’s …

Ollie’s Bargain Outlet Celebrates Opening of 300th Store Near Baltimore

GLEN BURNIE, MD. — Ollie’s Bargain Outlet Holdings Inc. has opened a new store in Glen Burnie to mark its 300th location. The new store is located about 10 miles south of downtown Baltimore in a former Toys “R” Us. The Harrisburg, Pa.-based company opened its first store 36 years ago in Mechanicsburg, Pa., and now has stores in 23 states. The milestone location was opened on the same day as several other Ollie’s Bargain Outlet stores, bringing the company’s total to 303. Ollie’s …

Blue Ocean Acquires 171-Room DoubleTree by Hilton Hotel Near Baltimore

PIKESVILLE, MD. — Blue Ocean has purchased the DoubleTree by Hilton Hotel and Conference Center located at 1726 Reisterstown Road in Pikesville, for an undisclosed price. Situated on 10 acres in Baltimore County, the hotel features 171 guestrooms, a 50,000-square-foot indoor tennis and fitness facility and office and retail buildings spanning 32,000 square feet. Steven Cornblatt and Gary Olschansky of Trout Daniel & Associates assisted Blue Ocean in the off-market deal. This transaction …

KLNB Negotiates Sale of 190,211 SF Shopping Center Near D.C.

LANHAM, MD. — KLNB Investment Sales Group has arranged the sale of Enterprise Plaza Shopping Center, a retail property situated on 16.7 acres in Lanham, a suburb of Washington, D.C. An affiliate of Combined Properties sold the asset to East Coast Acquisitions for an undisclosed price. Aldi and T.J. Maxx anchor the 190,211-square-foot property. Aldi recently exercised a five-year renewal option on its lease to extend its occupancy until 2023. Additional tenants include Verizon Wireless, …

CREG Breaks Ground on 350,000 SF Speculative Industrial Development Near Baltimore

HARFORD COUNTY, MD. — Chesapeake Real Estate Group (CREG), on behalf of TA Realty, has broken ground on a two-building warehouse/industrial project within Trimble Road Business Park in the Edgewood submarket of Harford County, approximately 30 miles northeast of Baltimore. Having acquired the site from CREG in 2018, TA Realty is moving forward with the construction of a 210,000-square-foot speculative facility at 102 Fulfillment Drive and a 140,450-square-foot building at 103 Fulfillment …

AvalonBay Buys Apartment Community in Metro D.C. for $83M

LINTHICUM HEIGHTS, MD. — AvalonBay Communities has purchased Alexan Concorde, a multifamily property located at 811 Concorde Circle in Linthicum Heights, about 34 miles northeast of Washington, D.C. A joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group sold the asset for $83 million. Situated adjacent to Baltimore-Washington International Airport and less than one mile from the Baltimore-Washington Parkway, the property features 310 luxury …

Pennrose Tops Out 120-Unit Seniors Housing Community in Maryland

ASPEN HILL, MD. — Pennrose has completed vertical construction of Pointe View at Aspen Hill, a 120-unit, mixed-income seniors housing community in Aspen Hill, located just north of Washington, D.C. Located on a nearly six-acre parcel, the development features 61 one-bedroom and 59 two-bedroom apartments. Harkins Builders is the general contractor, while Architecture by Design is the architect. The affordable, independent living community will be restricted to residents age 62 or older, …

Charger Ventures Receives $30.1M in Acquisition Financing for Apartment Complex in Maryland

LEXINGTON PARK, MD. — Charger Ventures has received $30.1 million in financing for the acquisition of Greens at Hilton Run, a garden-style multifamily community located at 46860 Hilton Drive in Lexington Park. Jamie Leachman and Nicole Brickhouse of HFF secured the 10-year, fixed-rate loan through Freddie Mac’s CME Program for the borrower. The securitized loan will be serviced by HFF. Charger Ventures plans to continue the seller’s interior unit renovation program, as well as upgrade …

After Record-Setting 2017, Baltimore Looks to Extend Its ‘Industrial Revolution’

The greater Baltimore metropolitan region achieved positive absorption of more than 6 million square feet of warehouse and industrial space in 2017, smashing the previous record by several million square feet and triggering yet another wave of speculative development activity. While on the surface there seems to be no end in sight to this unprecedented level of activity as we cross the midway point of 2018, there does exist several warning signs that are worth monitoring. But, who wants to …

subscribe


Conferences