Friday, November 21, 2025
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CivicDevelopmentHealthcareMarylandSoutheast

University of Maryland Medical Center Breaks Ground on $219M Healthcare Tower in Baltimore

by John Nelson

BALTIMORE — The University of Maryland Medical Center (UMMC) has broken ground on the Roslyn and Leonard Stoler Center for Advanced Medicine, a nine-story patient care tower located on the UMMC campus at 22 S. Greene St. in downtown Baltimore. The facility will serve as the new entrance to the UMMC and house the University of Maryland Marlene and Stewart Greenebaum Comprehensive Cancer Center (UMGCCC). The $219 million development is expected to be completed in mid-2025. The project, which will more than double the cancer center’s footprint, will feature 198,000 square feet of new space and 42,000 square feet of renovated space. UMMC is funding the tower with $100 million from the state of Maryland, along with private donations and UMMC capital funds. UMMC has raised more than $51 million from 130 donors as part of UMMC’s Building for Life Campaign to fund the project. Clark Construction will serve as general contractor for the project, which is estimated to be wrap up in 32 months.

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AcquisitionsAffordable HousingLoansMarylandMultifamilySoutheast

JLL Arranges $19.5M Acquisition Financing for Metro D.C. Affordable Housing Community

by John Nelson

LEXINGTON PARK, MD. — JLL Capital Markets has arranged a $19.5 million acquisition loan for River Bay Townhomes, a 173-unit affordable housing community in Lexington Park. JLL arranged the floating-rate loan through Sound Point Capital Management on behalf of the borrower, Linden Property Group. Developed using Low-Income Housing Tax Credits (LIHTC) in 2004 and 2005, River Bay Townhomes consists of three-bedroom, two-bath units an average square footage of 1,291, making them some of the largest units available in metropolitan Washington, D.C., according to JLL. Of the 173 units, 155 units are set aside for tenants who make no more than 60 percent of the area median income (AMI). Situated at 48100 Baywoods Drive, the property is located within St. Mary’s County in southern Maryland at the confluence of the Chesapeake Bay, the Potomac River and the Patuxent River. The area includes multiple military bases and defense contractors, St. Mary’s College of Maryland and the University of Southern Maryland.

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DevelopmentLife SciencesMarylandSoutheast

Trammell Crow to Develop 757,000 SF Life Sciences Campus at Johns Hopkins Satellite Campus in Maryland

by John Nelson

ROCKVILLE, MD. — Trammell Crow Co. has plans to develop The Lab at Belward, a life sciences project situated on the Belward Campus of Johns Hopkins University in Rockville. The property will initially span 757,000 square feet of laboratory and research and development space across three buildings. Trammell Crow entered into a 99-year ground lease with Johns Hopkins University for the 21-acre project. Designed by Gensler to achieve LEED Gold standards, The Lab at Belward will include 18-foot ceiling heights on both the basement and ground floors, with 16-foot heights on all other floors. The property will include amenities, terraces, balconies and a parking garage, as well as a six-acre public park with two retail pavilions. At full buildout the project could span up to 1.6 million square feet across seven buildings, according to Trammell Crow. The Dallas-based developer plans to break ground on the initial phase in June 2023 and deliver the project in early 2025. The project team includes general contractor Clark Construction Group; civil engineer Soltesz Inc.; land use engineer Lerch Early Brewer; mechanical, electrical and plumbing (MEP) engineer James Posey Associates Inc.; structural engineer Thornton Tomasetti; and landscape architect OJB. CBRE is managing the marketing and …

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Bainbridge-Industrial
DevelopmentIndustrialMarylandSoutheastTop Stories

MRP Industrial, Hillwood Development Plan 3.7 MSF Bainbridge Logistics Center in Port Deposit, Maryland

by Katie Sloan

PORT DEPOSIT, MD. — A joint venture between MRP Industrial and Hillwood Development Co. has announced plans for Bainbridge Logistics Center, a 3.7 million-square-foot industrial development in the town of Port Deposit, located in Maryland’s Eastern Shore region.  Bainbridge Naval Training Center formerly occupied the 440-acre site, which is located three miles from Interstate 95, approximately 42 miles from Baltimore and 40 miles from Wilmington, Delaware. The project’s first phase of development will include two single-story, speculative, Class A warehouse and logistics buildings totaling 1 million square feet and 605,280 square feet, respectively.  The developers are seeking LEED certification for both buildings, which will include LED lighting and white reflective roofs, among other energy-saving design features. Both assets will offer deep truck courts to support the movement of large tractor trailers; parking fields for both employees and visitors; and large floor plates to accommodate a range of uses, including light manufacturing, warehouse, logistics and last-mile operations.  The development will also feature $30 million worth of infrastructure improvements, including expansion of both water and sanitary services to support the logistics center and the surrounding community; the construction of three miles of public roads to connect the park to three highways; and …

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Merritt Manor
AcquisitionsMarylandRetailSoutheast

Continental Realty Corp. Sells Shopping Center in Metro Baltimore for $11.9M

by Julia Sanders

DUNDALK, MD. — Baltimore-based Continental Realty Corp. (CRC) has sold Merritt Manor Shopping Center, an 88,332-square-foot, fitness-anchored retail center in Dundalk. Columbia, Md.-based Abrams Development Group purchased the property for $11.9 million. Dean Zang and David Crotts of Marcus & Millichap represented CRC in the transaction. Merritt Manor was 96 percent leased at the time of sale to tenants including Gold’s Gym, Sherwin-Williams, Dollar General, Hair Cuttery, GNC, Chicken Rico and Leslie’s Swimming Pool Supplies. CRC completed renovations on the property, including upgrading the center’s exterior facade, enhancing all landscaping elements and upgrading the center’s signage. Located at 1119-1211 Merritt Blvd., the property is 9.9 miles from Baltimore and 18.7 miles from Baltimore/Washington International Thurgood Marshall Airport.

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Leasing ActivityMarylandOfficeSoutheast

Cushman & Wakefield Secures 26,000 SF Office Lease for Design Firm in Baltimore

by Julia Sanders

BALTIMORE — Cushman & Wakefield has secured a new 26,000-square-foot office lease in Baltimore for Design Collective, a locally based architecture and design firm. The firm will relocate from its current location in The Power Plant at 601 East P. St. to 100 E. Pratt St. The new office location offers a David & Dad’s Café Express, Starbucks, fitness center, concierge service and outdoor seating. Bronwyn LeGette and David Downey of Cushman & Wakefield represented Design Collective in the transaction. Linn Worthington of Cushman & Wakefield represented the landlord, Vision Properties.

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AcquisitionsMarylandRetailSoutheast

Rappaport Purchases 433,720 SF Shopping Center in Northern Maryland

by Julia Sanders

BEL AIR, MD. — A joint venture affiliated with Rappaport has purchased Festival at Bel Air, a 433,720-square-foot shopping center in the Harford County community of Bel Air. The seller and sales price were not disclosed. The shopping center was 94 percent occupied at the time of sale by 60 retailers, including anchor Klein’s ShopRite. Klein’s ShopRite has been at the center since its opening in 1990. Other tenants at the property include Kohl’s, Burlington, Marshalls, Petco and The Tile Shop.

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AcquisitionsCaliforniaCompany NewsMarylandOregonRetailSoutheastTop StoriesWashingtonWestern

First Washington Realty Goes Shopping, Acquires Donahue Schriber Realty Group

by John Nelson

BETHESDA, MD. AND COSTA MESA, CALIF. — Bethesda-based retail real estate owner First Washington Realty (FWR) has purchased Donahue Schriber Realty Group Inc., a shopping center owner based in Costa Mesa. An affiliate of FWR acquired the private retail REIT and its portfolio of grocery-anchored, open-air centers from institutional investors advised by J.P. Morgan Global Alternatives. The transaction adds 47 shopping centers, as well as one DSRG-owned office property, for a combined 6 million square feet to FWR’s holdings. The sales price was not disclosed, but Bloomberg reported in February that the negotiations for the deal valued DSRG and its assets at north of $3 billion. The news outlet also reports that the California Public Employees’ Retirement System (CalPERS) was an equity partner with FWR on the deal and that JPMorgan Asset Management and the New York State Teachers’ Retirement System (NYSTRS) were among DSRG’s largest investors. For FWR, the deal expands its presence on the West Coast, including in high-profile markets such as the Bay Area, Orange County, Seattle, Portland, San Diego and Sacramento. The deal also expands FWR’s corporate base on the West Coast, as its executive management team now oversees DSRG’s existing offices in Orange County, San …

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Leasing ActivityMarylandRetailSoutheast

Four Retailers Join Tenant Lineup at National Harbor in Metro D.C.

by Julia Sanders

OXON HILL, MD. — Four new tenants are joining the tenant lineup at National Harbor, a waterfront destination in Oxon Hill. Peterson Cos. developed National Harbor around 14 years ago. National Harbor is home to eight hotels, shops, restaurants, entertainment options, as well as the Capital Wheel, a 180-foot observation wheel and the Guide by Cell outdoor art gallery tour. The four tenants include Tom’s Watch Bar, Sticky Situation, Escapology and Silver Diner. Peterson Cos. announced three new tenants in January including Bombay Street Food, PrimoHoagies and BurgerFi. Located at 200 American Way, Tom’s Watch Bar is a 10,881-square-foot sports bar that offers food and beverages. The tenant is opening at National Harbor in late 2022. Sticky Situation, which will open at 170 American Way, is a 2,862-square-foot honey and syrup tasting room experience. Opening in August, the store will provide tastings and education on a variety of honeys and maple syrups from local honey, artisan-infused honey, real maple syrup and bee pollen from more than 12 bee colonies across the country. Situated at 230 American Way, Escapology will feature 3,675 square feet of escape room space. Opening in the fall, the property has five rooms and expansion plans to …

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Haven-Largo-Maryland
AcquisitionsMarylandMultifamilySoutheastTop Stories

Partnership Acquires Apartment Community in Largo, Maryland, for $72M

by Taylor Williams

LARGO, MD. — A partnership between investment firm FCP, developer Insight Property Group and Virginia-based nonprofit AHC has acquired Camden Largo Town Center, a 245-unit apartment community in Largo, just east of Washington, D.C. The sales price was $71.9 million, or roughly $293,500 per unit. At the time of sale, the garden-style community was approximately 93.5 percent occupied. The new ownership plans to upgrade common areas, rebrand the community as Haven Largo and introduce income restrictions to certain residences. Haven Largo features one-, two- and three-bedroom units that are furnished with kitchen pantries, rentable garages and private patios/balconies. Amenities include a pool, fitness center, and outdoor dining and lounge areas. In addition, Haven Largo offers proximity to Largo Town Center Metro Station and the Capital Beltway. “FCP is excited to continue investing in our home market with the acquisition of a well-maintained and high-performing asset in one of the top submarkets in suburban Maryland,” says Scott Reibstein, associate at FCP. “As part of our commitment to the preservation of moderately priced apartment communities in the region, we plan to offer resident services and implement affordability requirements to a portion of the units.” Chris Doerr and Will Harvey of Walker & …

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