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Frederick-Brickworks
DevelopmentMarylandMixed-UseSoutheast

Club Studio to Co-Anchor $450M Mixed-Use Development in Frederick, Maryland

by Abby Cox

FREDERICK, MD. — Greenberg Gibbons has signed a lease with Club Studio at Frederick Brickworks, a $450 million, 65-acre mixed-use destination in Frederick, roughly 50 miles northwest of Baltimore. The fitness club will occupy a 30,000-square-foot space and will join a 35,000-square-foot Whole Foods Market as a co-anchor. The development will feature a mix of additional tenants such as honeygrow, First Watch, Shake Shack, Dave’s Hot Chicken and Inspire Nail Bar. The first phase of the project will also include 332 apartments and 320 for-sale townhomes built by Wormald and NVR Inc. Completion of the first phase is scheduled for 2028.  According to the City of Frederick, the project proposal calls for 1,260 residential units and 130,000 square feet of commercial space. The planning commission approved the master plan in October 2023, and Greenberg Gibbons closed on the land acquisition in June 2026. The site formerly housed the historic Frederick Brick Works factory, which opened in 1891.

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2756 South Riverside Ave Bloomington CA
AcquisitionsConnecticutIndustrialLoansMarylandTop Stories

Realterm, Starwood Provide $672M in Financing for 78-Property Industrial Outdoor Storage Portfolio

by Abby Cox

GREENWICH, CONN. AND ANNAPOLIS, MD. — Realterm and Starwood Property Trust (NYSE: STWD) have provided a $672 million loan for an industrial outdoor storage (IOS) portfolio spanning 33 markets. The 78-property portfolio, which is owned by affiliates of Atlanta-based Stonemont and New York City-based Cerberus Capital Management, stretches 830 acres. Stonemont and Cerberus will continue to own and operate the properties. The proceeds will refinance an existing $486 million mortgage, return a portion of the money to primary investors and fund closing costs. Eastdil Secured Savills arranged the transaction. Additional details of the deal, including the portfolio’s tenant information, were not disclosed. Top markets in the portfolio include: The IOS sites support fleet parking, equipment storage and other logistics activities. According to the press release, the loan is recognized as the largest financing deal of its kind in the IOS sector. “This financing marks a significant milestone for our credit platform and underscores our ability to execute sophisticated solutions that drive industry-making deals,” says Paul Sisson, head of credit at Realterm. “Borrowers are continuing to seek lenders with a deep understanding of the industrial real estate and logistics sectors.” Realterm acquires, develops, finances and manages differentiated real estate and infrastructure assets …

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potomac-place-shopping-center
LoansMarylandRetailSoutheast

Northmarq Arranges $50.8M Loan for Grocery-Anchored Retail Center in Metro D.C.

by Abby Cox

POTOMAC, MD. — Northmarq has arranged a $50.8 million permanent, fixed-rate loan for the refinancing of Potomac Place Shopping Center, an 80,040-square-foot retail center located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a tenant mix including Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do. Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.

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Baltimore_Marriott_Inner_Harbor_at_Camden_Yards_exterior
DevelopmentHospitalityMarylandSoutheast

Ownership Completes Phase I Renovations of Baltimore Marriott Inner Harbor at Camden Yards Hotel

by Abby Cox

BALTIMORE — A New York-based development firm doing business as SC Baltimore Hotel LLC has completed the first phase of the renovation of the Baltimore Marriott Inner Harbor at Camden Yards, a 523-room hotel located at 110 S. Eutaw St. in downtown Baltimore. HEI Hotels & Resorts operates the hotel, which is situated near Oriole Park at Camden Yards, the home ballpark of the Baltimore Orioles. Phase I is part of a two-part, $30 million property-wide renovation. The second phase, which will include upgrading the lobby, restaurant and meeting spaces, is expected to commence in the first quarter of 2027. Phase I focused on modernizing the hotel’s guestrooms, suites and concierge lounge. New in-room amenities include a smart TV with casting and streaming options, a mini-refrigerator, coffee maker and Wi-Fi. The executive lounge, located on the 10th floor, has been refreshed to provide an elevated experience for the hotel’s Marriott Bonvoy Platinum Elite, Titanium Elite and Ambassador Elite members, which features modern enhancements, new seating and a refined atmosphere. Guests can also enjoy complimentary all-day beverages, free daily breakfast and evening hors d’oeuvres. Additional hotel amenities include 24-7 fitness and business centers, more than 18,400 square feet of event space and The …

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AcquisitionsIndustrialMarylandSoutheast

Sagard Acquires Distribution Facility in Baltimore County for $91M

by John Nelson

ROSEDALE, MD. — Sagard Real Estate has purchased a 621,144-square-foot distribution center located at 7001 Quad Ave. in Rosedale, a city in east Baltimore County. An undisclosed, California-based investor sold the industrial property to Sagard Real Estate, a subsidiary of Denver-based Sagard, for $91 million. Built in 2004, the cross-dock facility is situated on 32 acres approximately five miles from the Port of Baltimore’s Seagirt and Dundalk marine terminals and downtown Baltimore. The distribution center was fully leased at the time of sale to users in the food-and-beverage and third-party logistics sectors, including Goetze’s Candy and Southern Wine & Spirits, according to Baltimore Business Journal.

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AcquisitionsDevelopmentMarylandMixed-UseRetailSoutheast

Home Depot to Open First Store in Southern Maryland

by John Nelson

CALIFORNIA, MD. — The Home Depot has purchased 13.5 acres within Lexington Exchange, a 140-acre mixed-use park situated along Three Notch Road (Md. Route 235) in California. The Atlanta-based retail giant plans to open a new store at the site, representing the company’s first store in southern Maryland. Baltimore-based St. John Properties Inc., the master developer of Lexington Exchange, sold the site to The Home Depot for an undisclosed price. Alex Lyons and Bill Holzman handled negotiations for St. John Properties internally, and Greg Ferrante of Segall Group represented The Home Depot. The size of the store and target opening date were not released. The Home Depot is the latest retailer coming to the lineup at the mixed-use development, joining tenants including Aldi, Royal Farms, Chipotle Mexican Grill and RC Theatres. Lexington Exchange currently features five buildings spanning 120,000 square feet of flex/research-and-development space and 65,000 square feet of retail. The park is configured to support approximately 600,000 square feet of commercial space. St. John Properties and development partner Chaney Enterprises are currently marketing several pad sites within Lexington Exchange to retail users in the healthcare, banking and food-and-beverage segments.

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AcquisitionsLoansMarylandOfficeSoutheast

MMCC Arranges $6.8M Acquisition Loan for Office Property in Baltimore

by John Nelson

BALTIMORE — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.8 million acquisition loan for an office property located at 1520 S. Caton Ave. in Baltimore. Jared Cassidy of MMCC’s Washington, D.C., office secured the five-year loan with a regional bank on behalf of an unnamed, private client. Brightwood College formerly occupied the 37,200-square-foot, three-story office building. The property will be home to a regional aviation services company that will use the building as training grounds for aviation mechanics.

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IndustrialLoansMarylandSoutheast

JLL Secures $621M Refinancing of Maryland Industrial Portfolio for Merritt Properties

by John Nelson

BALTIMORE — JLL has secured a $621 million loan for the refinancing of a 58-property, 6.3 million-square-foot industrial portfolio in Maryland owned by Merritt Properties, a Baltimore-based industrial developer and operator. Pete Pittroff, Anthony Fertitta, Travis Anderson, Evan Parker and Christopher Pratt of JLL arranged the seven-year balance sheet loan through M&T Bank on behalf of Merritt Properties. The portfolio comprises light industrial buildings in the Baltimore-Washington Corridor, northwest Baltimore, I-95 Corridor and Hagerstown.

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Frederick-Brickworks
DevelopmentMarylandMixed-UseTop Stories

Greenberg Gibbons Breaks Ground on $450M Mixed-Use Project in Frederick, Maryland

by Hayden Spiess

FREDERICK, MD. — Greenberg Gibbons has broken ground on Frederick Brickworks, a new mixed-use project located in Frederick, roughly 50 miles northwest of Baltimore. Upon completion, the development will span 65 acres. Project costs are expected to total $450 million.  According to the City of Frederick, the project proposal calls for 1,260 residential units and 130,000 square feet of commercial space. The planning commission approved the master plan in October 2023, and Greenberg Gibbons closed on the land acquisition last month. The site formerly housed the historic Frederick Brick Works factory, which opened in 1891. Brick manufacturing ended at the factory in 1946, and the company continued a construction materials business at the property until relocating in 2007.  Whole Foods Market will anchor Frederick Brickworks. Other confirmed retail and restaurant tenants include honeygrow, First Watch, Shake Shack, Dave’s Hot Chicken and Inspire Nail Bar. The first phase of the development will also feature 332 rental apartments and 320 for-sale townhomes built by Wormald and NVR Inc. Completion of the first phase is scheduled for 2028. The project is anticipated to support approximately 5,600 jobs — including 1,300 permanent positions and 4,300 construction jobs — and generate an estimated $181 million …

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caprock
Leasing ActivityMarylandOfficeSoutheast

CP Group Signs 35,000 SF of Leases at CapRock Office Campus in Bethesda, Maryland

by Abby Cox

BETHESDA, MD. — CP Group, along with a fund managed by DRA Advisors, has signed six leases over the past three months at CapRock, a 709,313-square foot office property located in Bethesda. Totaling approximately 35,000 square feet, the new tenants include nonprofit mechanical contractors’ organization MCA of Metropolitan Washington (12,295 square feet); coworking and private office provider Pioneer Office Suites (8,905 square feet); business management consultancy firm mPower Inc. (4,610 square feet); IMC Construction (3,478 square feet); satellite communications company Commcrete (3,807 square feet); and Haverford Construction Co. (2,780 square feet). Tenants were represented by agents from KLNB, Clarefield Partners, CBRE and TTA. Bernie McCarthy, Amanda Davis, Danny Sheridan and Patrick Hall of JLL represented CP Group in all transactions.  Formerly known as Democracy Center, CapRock is a three-building, 10-acre campus that comprises two nine-story towers and one 15-story tower. CP Group recently completed renovations at CapRock’s 6903 building, including the rollout of its “worCPlaces” spec suite program, an entire seventh floor of move-in ready workspaces with shared amenities, such as a tenant lounge and break room. To date, CP Group has delivered more than 50,000 square feet of move-in-ready suites at CapRock across two phases. With nearly all the existing suites …

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