Maryland

KLNB Arranges 50,000 SF of Office Leases at Forbes Center in Lanham, Maryland

by John Nelson November 11, 2024

LANHAM, MD. — KLNB has arranged more than 50,000 square feet of office leases at Forbes Center, a 17-building business park in Lanham, 13 miles northeast of Washington, D.C. The landlord, D.C.-based DSC Partners LLC, hired KLNB this summer to oversee leasing at Forbes Center. The brokerage firm opened an onsite leasing office at the property to help facilitate the process. The KLNB landlord advisory team for Forbes Center includes Ken Fellows, Robert Pugh, Keiry Martinez and Aaron Carroll. The tenants were not disclosed.

November 11, 2024

Acquisitions Industrial Maryland Southeast

KLNB Brokers $8.3M Sale of Industrial Facility in Frederick, Maryland

by John Nelson November 8, 2024

FREDERICK, MD. — KLNB has brokered the $8.3 million sale of a 56,000-square-foot, high-bay warehouse in Frederick, about 40 miles northwest of Washington, D.C. Hercules Custom Iron (HCI), a division of Hercules Fence, purchased the 5.6-acre site at 4607 Wedgewood Blvd., which was formerly home to Flying Dog Brewery. The new Frederick warehouse will triple the size of HCI’s operations and double its shop and office footprint. Marc Balamaci, Ken Fellows, Scott Mendelson and Robert Pugh of KLNB represented the buyer in the transaction. HCI has also tapped KLNB to sell its existing 26,000-square-foot warehouse located at 36 W. Pennsylvania Ave. in nearby Walkersville, Md.

November 8, 2024

Development Maryland Multifamily Student Housing Top Stories

Landmark Properties Unveils Plans for 2,079-Bed Student Housing Project in College Park, Maryland

by Taylor Williams November 4, 2024

COLLEGE PARK, MD. — Landmark Properties, a student housing owner-operator based in Athens, Ga., has unveiled plans for The Mark College Park, a 2,079-bed project that will be located adjacent to the University of Maryland’s campus. The 4.5-acre site currently houses two condo buildings that are known as College Park Towers. Landmark plans to acquire the condo buildings and land for the development in 2026. Completion of the new student housing community is slated for fall 2029. WDG Architecture is designing The Mark, and Landmark’s construction arm (Landmark Construction) is serving as the general contractor. Plans currently call for two 10-story buildings totaling 601 units that will come in studio to five-bedroom floor plans. Residences will feature stainless steel appliances, quartz countertops, hardwood-style floors and in-unit washers and dryers. Additionally, residents at The Mark will have access to covered garage parking and reserved parking for an additional charge. Amenities will include three quad-like open green spaces on the ground floor, as well as a fitness center and a paseo with tree coverage and green space. This feature will bisect the property north to south to improve pedestrian connectivity. In addition, an amenity deck atop the parking garage will offer …

November 4, 2024

Acquisitions Maryland Retail Southeast

Marcus & Millichap Arranges Sale of Retail Strip Center in Towson, Maryland

by John Nelson November 1, 2024

TOWSON, MD. — Marcus & Millichap has arranged the sale of a 14,175-square-foot retail strip center located at 1270 E. Joppa Road in Towson. An affiliate of Wilmington, Del.-based Buccini Pollin Group sold the property for an undisclosed price. Dean Zang and David Crotts of Marcus & Millichap’s Washington, D.C., office represented the seller and procured the buyer, an unnamed private investor. Built in 2018, the property’s tenant roster includes Aspen Dental, ATI Physical Therapy, Dogtopia and School of Rock. The center is situated on 1.9 acres as an outparcel to a Wawa gas station and 1271 at Towson, a luxury apartment community.

November 1, 2024

Civic Development District of Columbia Industrial Maryland Southeast

Biden Administration Announces $3B Investment in Port Infrastructure

by John Nelson October 30, 2024

WASHINGTON, D.C. — The Biden Administration has announced a $3 billion investment from the Inflation Reduction Act to improve port infrastructure and support an estimated 40,000 “good-paying and union jobs” at 55 ports across 27 states. According to The White House press, U.S. ports employ more than 100,000 union workers. The initiative, named The Clean Ports Program, is headlined by a $147 million investment for the Maryland Port Administration via grants and awards that will support 2,000 jobs, as well as fund the installation of zero-emission equipment, charging infrastructure and power improvements. Biden made the announcement yesterday at the Port of Baltimore, site of the Francis Scott Key Bridge collapse in March. The Clean Ports Program is expected to increase the demand for American manufactured electric cargo handling equipment and eliminate more than 3 million metric tons of carbon pollution over the first 10 years of implementation, which is equivalent to 391,220 homes’ energy use for one year. The program will fund new battery-electric and hydrogen-powered cargo handling equipment, drayage trucks, locomotives and vessels, as well as charging/fueling infrastructure and solar power installation.

October 30, 2024

Loans Maryland Multifamily Southeast

Colliers Secures $24.5M Refinancing for Milford Station Multifamily Community in Metro Baltimore

by John Nelson October 29, 2024

PIKESVILLE, MD. — Colliers has secured a $24.5 million loan for the refinancing of Milford Station, a multifamily community located at 19 Warren Park Drive in Pikesville, approximately 15 miles northwest of Baltimore. Bob Beckman of Colliers arranged the non-recourse financing, which features a 30-year term and fixed interest rate of 5.1 percent, on behalf of the borrowers, Gelfund RE Opportunities and GY Properties. Milford Station totals 199 apartments within controlled-access buildings and features complimentary parking.

October 29, 2024

Acquisitions Maryland Seniors Housing Southeast

Berkadia Arranges Sale of 106-Unit Active Adult Community in Annapolis, Maryland

by John Nelson October 24, 2024

ANNAPOLIS, MD. — Berkadia’s Seniors Housing & Healthcare team has brokered the sale of Gardens of Annapolis, a 106-unit active adult community. A joint venture between Corten Real Estate and Real Asset Industries purchased the property from Crow Holdings, a Texas-based real estate investment and development firm. Cody Tremper, Dave Fasano, Ross Sanders and Mike Garbers of Berkadia Seniors Housing & Healthcare represented Crow Holdings in the transaction. Berkadia also provided $17.4 million in Fannie Mae acquisition financing on behalf of the buyer. The seven-year, fixed-rate acquisition loan features both an attractive interest rate and interest-only period, according to Berkadia. Austin Sacco, Steve Muth and Alec Rosenfeld of Berkadia originated the acquisition financing. Built in 2002, Gardens of Annapolis is located near historic downtown Annapolis and the U.S. Naval Academy. The property features a mix of 42 one-bedroom, one-bathroom units; 23 two-bedroom, one-bathroom units; and 41 two-bedroom, two-bathroom units.

October 24, 2024

Development Healthcare Maryland Southeast

O&N Breaks Ground on $550M UM Shore Regional Medical Center in Easton, Maryland

by John Nelson October 22, 2024

EASTON, MD. — Philadelphia-based O’Donnell & Naccarato (O&N) has broken ground on UM Shore Regional Medical Center, a 408,000-square-foot hospital and outpatient facility in the coastal Maryland city of Easton. The $550 million facility is set to open in 2028 and will fully replace the Regional Medical Center’s existing facilities. The new UM Shore Regional Medical Center will comprise a six-story, 147-bed tower (325,000 square feet), a connected two-story outpatient care facility (60,000 square feet) and a central utility plant on a 230-acre campus off Longwoods Road. The new hospital and outpatient facility will operate as part of the University of Maryland (UM) Medical System. The design-build team includes HKS Architects Inc., general contractor The Whiting-Turner Contracting Co., MEP engineer Highland Associates and civil engineer Daft McCune Walker.

October 22, 2024

Development Industrial Maryland Southeast

St. John Properties Begins Construction on 107,000 SF Industrial Park in Salisbury, Maryland

by John Nelson October 17, 2024

SALISBURY, MD. — St. John Properties Inc. has begun construction on Westwood Commerce Park, a three-building industrial project in Salisbury, approximately 30 miles west of Ocean City in Wicomico County. The first phase of construction, which will be built on a speculative basis, comprises two flex/research-and-development facilities spanning more than 70,000 square feet that will be located at the intersection of Ocean Gateway and Naylor Mill Road. St. John Properties plans to deliver Phase I by fourth-quarter 2025. The 16-acre development will also include a three-acre pad site that would be suitable for a gas station or convenience store, according to St. John Properties. The Baltimore-based developer anticipates Westwood Commerce Park to employ more than 400 people at full capacity.

October 17, 2024

Leasing Activity Maryland Mixed-Use Restaurant Retail Southeast

New Tenants Open at Collection at Chevy Chase Mixed-Use Center in Metro DC

by John Nelson October 15, 2024

CHEVY CHASE, MD. — A new wave of tenants have opened at The Collection at Chevy Chase, an upscale, multi-story mixed-use development in metro Washington, D.C.’s Friendship Heights district. Located on Wisconsin Circle in Chevy Chase, The Collection’s new tenants include Porsche Studio (3,756 square feet), Brooks Brothers (5,722 square feet), Bright Horizons (11,638 square feet) and a kiosk for Dunkin’ (400 square feet). The Chevy Chase Land Co. is the owner and landlord of The Collection. Built in 2006, the center is home to tenants including Tiffany & Co., Amazon Fresh, Capital One Bank, Giorgetti, Capital Laser & Skincare, Clyde’s Restaurant, The Hunter’s Hound, Junction Bistro, Bar & Bakery, Joy by Seven Reasons and Merritt Gallery, among others.

October 15, 2024

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