REBusinessOnline

Cushman & Wakefield Arranges $7.7M Sale of Industrial Building in Frederick, Maryland

FREDERICK, MD. — Cushman & Wakefield has arranged the $7.7 million sale of a 75,400-square-foot industrial building located at 7495 New Horizon Way in Frederick. The facility is situated within Frederick Corporate Park. Scott Matthew, Peter Rosan, Megan Williams and Frank Andrews of Cushman & Wakefield represented the seller, Finmarc Management Inc, while CBRE represented the buyer, Valogic, in the transaction. Frederick Corporate Park was acquired by Finmarc Management in 2020 and is …

HLNP Sells Industrial Outdoor Storage Site in Hanover, Maryland for $21.1M

HANOVER, MD. — HLNP LLC has sold Last-Mile @ BWI, an industrial outdoor storage site located at 1200 Stoney Run Road in Hanover, for $21.1 million. The industrial-zoned land is 100 percent leased and was sold to NorthBridge Partners. Cris Abramson, Brian Kruger, Ben McCarty and Nicholas Signor of Newmark brokered the sale. Located directly adjacent to Baltimore-Washington International Airport (BWI), Last Mile @ BWI sits on 13.6 acres within Baltimore Commons Industrial Park, a …

Concord Communities Acquires Four Apartment Properties in Northeast Baltimore for $29.5M

BALTIMORE, MD. — Concord Communities, a Washington, D.C.-based affordable housing owner and developer, has acquired four apartment properties totaling 340 units in northeast Baltimore for $29.5 million. Ralph Crozier led the acquisition on behalf of Concord Communities on an internal basis, and Christine Espenshade of Newmark represented the seller. The sales price and seller were not disclosed.The communities — Walther Avenue Apartments, Hazelcrest Apartments and Northern Village …

Brandywine Realty Trust, Terrapin Development to Build $300M Mixed-Use Neighborhood on UM Campus in College Park

COLLEGE PARK, MD. — Terrapin Development Co. (TDC), in partnership with the University of Maryland (UM) College Park, has entered into an exclusive development agreement with Brandywine Realty Trust for an upcoming mixed-use project on the UM campus. The Philadelphia-based REIT will develop a mixed-use neighborhood spanning five acres in College Park, within UM’s Discovery District. The development project is set to cost over $300 million. The Discovery District’s development will …

JLL Arranges Sale of Multifamily Property in Metro Baltimore

LINTHICUM HEIGHTS, MD. — JLL has arranged the sale of Element Linthicum Heights, an apartment community located just outside of Baltimore in Linthicum Heights. JLL worked on behalf of the seller, JLB Partners, to complete the sale to the buyer, AvalonBay Communities Inc. Walter Coker, Brian Crivella and Robert Jenkins of JLL arranged acquisition financing on behalf of AvalonBay. The loan amount and sales price were not disclosed.Located at 820 Concorde Circle, Element Linthicum Heights …

Merritt Properties Purchases Former GM Facility in Metro Baltimore for $34.5M, Plans Industrial Redevelopment

WHITE MARSH, MD. — Merritt Properties has purchased 10301 Philadelphia Road in White Marsh for $34.5 million. The property is a former GM Baltimore Global Propulsions Systems site that opened in 2000 to produce transmissions and electric motors before it closed in 2019. Bo Cashman and Jonathan Beard of CBRE represented the unnamed seller in the transaction.Located off Interstate I-95 near Interstate 695, the 56-acre project will be known as White Marsh Interchange Park. White Marsh …

Harbor Stone Advisors Arranges $10.3M Sale of Apartment Community in Odenton, Maryland

ODENTON, MD. — Harbor Stone Advisors has arranged the $10.3 million sale of Highland Court Apartments, a 78-unit garden-style complex in Odenton. Justin Verner and Brooks Healy of Harbor Stone Advisors served as exclusive advisor and agent to the seller, Bethesda-based Outlier Realty Co., in addition to sourcing the buyer, Willow Creek Partners. The property sold for $132,051 per unit.Constructed in 1962, Highland Court Apartments includes one- and two-bedroom units with white or black …

JLL Brokers $17.4M Sale of Manokeek Village Center in Metro D.C.

ACCOKEEK, MD. — JLL has brokered the $17.4 million sale of Manokeek Village Center, a 74,470-square-foot, grocery-anchored shopping center in the Washington, D.C., suburb of Accokeek. Bill Moylan, Jordan Lex and Daniel Naughton of JLL marketed the property on behalf of the seller, The JCR Cos. Evan Park of JLL arranged a 10-year, fixed-rate acquisition loan on behalf of the buyer, AmCap Necessity Retail Fund LLC. Completed in 2003, Manokeek Village Center is 96 percent leased to Giant, …

Excelsa Properties Acquires Multifamily Community in Camp Springs, Maryland for $64M

CAMP SPRINGS, MD. — Excelsa Properties has acquired Tribeca at Camp Springs, a multifamily property located at 4701 Old Soper Road in Camp Springs, for $64 million. This is the seventh multifamily property acquisition for the Excelsa US Real Estate I LP investment vehicle. The seller was not disclosed.Tribeca features 224 apartments and over 18,000 square feet of retail space. Completed in 2006, Tribeca’s units feature nine-foot ceilings, poured concrete construction and structured …

PCCP, Panattoni to Build 730,880 SF Industrial Project in Hagerstown, Maryland

HAGERSTOWN, MD. — PCCP LLC and Panattoni Development Co. Inc. have partnered in a joint venture to acquire a 90-acre site in Hagerstown for the speculative development of Creekside Logistics Center. The project will be a fully entitled, 730,880-square-foot industrial warehouse building featuring 40-foot clear heights. Located at 16422 National Pike, the project is anticipated for completion in December.Located directly south of the Pennsylvania/Maryland border, Creekside Logistics Center …

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