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Leasing ActivityMarylandOfficeSoutheast

CP Group Inks 32,000 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 inked six leases over the past six months at Caprock, a 709,313-square foot office property located in Bethesda. Totaling approximately 32,000 square feet, the deals include new arrivals, renewals and an expansion. Investment management firm FVLCRUM Partners signed an 8,196-square-foot lease to relocate its former Rockville, Md.-based office. IT services firm T-Rex Solutions renewed its 5,744-square-foot lease at the property, while consulting company Eliassen Group also signed a lease renewal for 2,523 square feet. Washington Vein Clinic expanded its footprint to 5,351 square feet, relocating to one of Caprock’s newest spec suites on the sixth floor. Constellation Software Engineering signed a 5,357-square-foot lease to complement its existing Annapolis, Md.-based office, while Avenue Wealth Management signed a lease for a new 5,357-square-foot spec suite. Tenants were represented by agents from CBRE, Cresa, TTA, Cushman & Wakefield and JLL. Bernie McCarthy, Amanda Davis, Danny Sheridan and Patrick Hall of JLL represented the landlord 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 …

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AcquisitionsMarylandRetailSoutheast

Federal Realty Acquires Shopping Center in Rockville, Maryland for $72.3M

by John Nelson

ROCKVILLE, MD. — Federal Realty Investment Trust, a retail REIT based in North Bethesda, Md., has acquired Congressional North Shopping Center, a 176,000-square-foot shopping center in Rockville, for $72.3 million. The seller was not disclosed. Aldi anchors the center, which spans 12 acres and sits approximately 12 miles northwest of Washington, D.C. Additional tenants include RH Outlet, Petco and Staples. Within Montgomery County, Md., Federal Realty also owns Congressional Plaza, which is adjacent to Congressional North, as well as Federal Plaza, Montrose Crossing and Pike & Rose.

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AcquisitionsCompany NewsGeorgiaMarylandMultifamilyNorth CarolinaSoutheastTop StoriesVirginia

AH Realty Trust Agrees to Sell 11-Property Multifamily Portfolio to Harbor Group for $562M

by John Nelson

VIRGINIA BEACH AND NORFOLK, VA. — AH Realty Trust (NYSE: AHRT), a Virginia Beach-based real estate investment trust (REIT) that changed its name from Armada Hoffler two weeks ago, has agreed to sell 11 of its 14 apartment properties to Norfolk-based Harbor Group International LLC for $562 million in an all-cash transaction. The deal marks an effort by AH Realty to pivot away from the multifamily sector. Harbor Group has provided a $15 million nonrefundable deposit for the transaction, which the companies say is not contingent on financing. The portfolio sale is expected to close in mid‑2026, subject to customary closing conditions. “HGI is acquiring a strong, stable portfolio that has served our company well,” says Shawn Tibbetts, chairman, president and CEO of AH Realty Trust. “By realizing the value of these assets, AH Realty Trust is able to simplify our business, strengthen our balance sheet and continue executing our strategy with clarity and purpose.” According to multiple media outlets, including the Baltimore Business Journal, the assets in the portfolio include: AH Realty Trust will retain Smith’s Landing, a five-story, 284-unit property in Blacksburg, Va. The firm will also keep The Everly and Solis Gainesville in Gainesville, Ga., with the intention …

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DevelopmentMarylandMixed-UseRetailSoutheast

MCB Signs Costco to Anchor $2.8B Viva White Oak Mixed-Use Development in Metro D.C.

by John Nelson

SILVER SPRING, MD. — MCB Real Estate has signed Costco Wholesale to anchor Viva White Oak, a $2.8 billion mixed-use development in Maryland’s Montgomery County. Situated a little more than 12 miles northeast of Washington, D.C., Viva White Oak will span 280 acres near the headquarters of the U.S. Food and Drug Administration (FDA) and the Adventist HealthCare White Oak Medical Center in Silver Spring. The 162,000-square-foot store will be the fourth Costco within a 10-mile radius of Viva White Oak, according to MCB. Viva White Oak is approved for more than 12 million square feet of mixed-use development, including 5,000 new residences, both for-sale and rental, as well as new shops, restaurants, a hotel and medical office space. Last week, the Montgomery County Council unanimously approved its first-ever Tax Increment Financing (TIF) district to advance Viva White Oak. MCB says it will use the TIF to unlock about $320 million for infrastructure. According to MCB, Viva White Oak is expected to generate more than 17,000 construction jobs, 9,000 permanent jobs and an estimated $62 million in annual revenue for Montgomery County. Phase I is expected to generate $1.2 billion in value and $33 million in annual revenue.

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AcquisitionsLoansMarylandMultifamilySoutheast

Colliers Arranges $232.7M in Acquisition Financing for 1,225-Unit Multifamily Portfolio in Maryland

by Abby Cox

SUITLAND and LARGO, MD. — Colliers has arranged 232.7 million in acquisition financing for a three-property multifamily portfolio located in Prince George County. 29th Street Capital and Willton purchased the property for an undisclosed price. Shahin Yazdi and Jonathan Lee of Colliers arranged the five-year, fixed-rate loan on behalf of the buyers. The full-term, interest-only loan features a 70 percent loan-to-purchase price. Loan proceeds reassigned existing tax increment financing (TIF) agreements associated with Allure Apollo and Aspire Apollo. Allure Apollo and Aspire Apollo are adjacent multifamily communities located in Suitland, Md., and operate as a single residential campus totaling 801 units. The properties feature a mix of studio, one-, two- and three-bedroom units with a full suite of tenant amenities. Ascend Apollo, located approximately 10 miles away along I-495 near the Joint Base Andrews military facility in Largo, comprises 424 units with a similar unit mix and similar amenities such as a resort-style swimming pool with a sundeck, clubhouse, business center and fitness center, among others.

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AcquisitionsMarylandRetailSoutheast

SVN | Miller Negotiates Sale of 21 Acres at Outlets Ocean City in Coastal Maryland

by John Nelson

OCEAN CITY, MD. — The McClellan Team at SVN | Miller Commercial Real Estate has negotiated the sale of 21 acres of land underlying Outlets Ocean City, a 200,000-square-foot outlet mall in Ocean City. The outlet mall is subject to a long-term ground lease with leasehold improvements by the new ownership. The Elliott Family sold the land to the undisclosed buyer. The new ownership group has tapped the McClellan Team and Ryan Finnegan of SVN | Miller to lease Outlets Ocean City, which has six units available for lease. According to the property’s online directory, the outlet mall’s tenant roster includes American Eagle, Carter’s, Crocs, HomeGoods, J. Crew Factory, Mione’s Pizza, Old Navy Outlet, Outback Steakhouse, Rack Room Shoes, Skechers, Sunglass Hut and Under Armour, among other brands.

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Leasing ActivityMarylandOfficeSoutheast

Colliers Arranges 69,408 SF Office Lease in Downtown Baltimore

by John Nelson

BALTIMORE — Colliers has arranged a 69,408-square-foot office lease at 36 S. Charles St. in downtown Baltimore. Nathan Crowe and Katie Datin of Colliers represented the landlord, Zamir Equities, in the lease transaction. Nick Loiselle of CBRE represented the tenant, the State of Maryland. The state will utilize the space for its Supplemental Retirement Program, the Office of the People’s Counsel and the Public Service Commission. Other State of Maryland agencies that already occupy the property include the Office of Public Defender, the Department of Aging and the Department of Disabilities. The office building features an onsite fitness center, conference center, tenant lounge and 24/7 security.

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AcquisitionsMarylandRetailSoutheast

CBRE Negotiates Sale of 293,099 SF Bowie Town Center in Maryland

by Abby Cox

BOWIE, MD. — CBRE has negotiated the sale of Bowie Town Center, a 293,099-square-foot lifestyle center in Prince George County, bordering the eastern portion of Washington, D.C. A partnership between Nile Equity Group and Community Real Estate Co. purchased the property for an undisclosed price. Ryan Sciullo, Chris Munley, Colin Behr, Casey Smith and R.J. Mirabile of CBRE’s National Retail Partners Mid-Atlantic team represented the undisclosed seller in the transaction. Bowie Town Center was 86 percent leased at the time of sale to tenants including Bath & Body Works, Barnes & Noble, LA Fitness, Foot Locker, Famous Footwear, Lane Bryant, Macy’s, Pandora and Starbuck’s Coffee, among others.

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AcquisitionsMarylandRetailSoutheast

IPA Negotiates Sale of 57,524 SF Shopping Center in Baltimore

by John Nelson

BALTIMORE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Highlandtown Village, a 57,524-square-foot shopping center located at 3800 E. Lombard St. in Baltimore. Built in 1987, the retail center was fully leased at the time of sale to tenants including Hazlo International Foods, Dollar Tree, Baltimore Bark House, Fishtail Wine and Song’s Beauty Supplies. The average tenant occupancy at Highlandtown Village exceeds 14 years, according to IPA. David Crotts and Dean Zang of IPA represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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DevelopmentMarylandRetailSoutheastTop Stories

Sphere Entertainment, Peterson Plan Smaller Sphere Venue in Metro D.C. Totaling 6,000 Seats

by John Nelson

OXON HILL, MD. — Sphere Entertainment Co. (NYSE: SPHR), the owner and operator of the Sphere venue in Las Vegas that opened in 2023, is partnering with locally based developer Peterson Cos. for a smaller Sphere venue in National Harbor, a waterfront neighborhood in the Washington, D.C., suburb of Oxon Hill. The planned project represents the second Sphere entertainment venue in the United States and third in the world following the future Sphere’s completion in Abu Dhabi. “Our focus has always been on creating a global network of Spheres across forward-looking cities,” says James Dolan, executive chairman and CEO of Sphere Entertainment. The site for Sphere at National Harbor overlooks the Potomac River and would complement other National Harbor mainstays such as MGM National Harbor, a $1.4 billion casino that opened in 2016, Capital Wheel, Gaylord National Resort and Topgolf. The more than 300-acre National Harbor district welcomes approximately 15 million visitors nationally. At full completion, the Sphere venue will feature the Exosphere, which is the Sphere’s programmable LED exterior display, as well as 6,000 seats for concerts, immersive movie presentations and other events. The new venue’s seating volume represents about a third of the 18,600-seat capacity at the Sphere …

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