Maryland

Donohoe, USAA Purchase Office Building in Metro D.C. for $105.7M

by Camren Skelton October 6, 2017

BETHESDA, MD. — The Donohoe Cos. and USAA Real Estate have acquired 7101 Wisconsin Ave., a 230,904-square-foot office building in Bethesda, a suburb of Washington, D.C. HFF marketed the property on behalf of the seller, a joint venture between Brandywine Realty Trust and Allstate Investments, and procured the buyers. The Washington Business Journal reports the asset sold for $105.7 million. Situated a quarter-mile from the Bethesda Metrorail Station, 7101 Wisconsin was renovated in 2015 with an updated entrance, new lobby and updated conference facility and common areas. At the time of sale, the property was 97 percent leased to tenants including The Donohoe Cos. and Miller & Long Co. Inc.

October 6, 2017

Maryland Multifamily Southeast

FCP, Urban Atlantic Acquire Two Apartment Assets in Metro D.C. for $44M

by Camren Skelton September 25, 2017

FORESTVILLE AND CAPITOL HEIGHTS, MD. — Federal Capital Partners (FCP), in a joint venture with Urban Atlantic, has acquired two apartment assets in metro Washington, D.C. for a combined $44 million. Christine Espenshade and Robert Garrish of JLL arranged the transaction on behalf of the buyer. Located at 5521 Marlboro Pike in Forestville, Holly Springs Meadows is roughly 12 miles southeast of Washington, D.C. The pet-friendly community features modern kitchens, a playground and open courtyard spaces. The second community, Woods at Addison, is located at 6500 Ronald Road in Capitol Heights, approximately 10 miles east of D.C. The community features modern kitchens, private balconies or patios, a pool and tennis and basketball courts. The properties have a combined total of 449 apartment units.

September 25, 2017

Industrial Maryland Southeast

FedEx Ground Opens New Distribution Facility at Logistics Center in Metro Baltimore

by Camren Skelton September 21, 2017

SPARROWS POINT, MD. — FedEx Ground, the small package delivery unit of FedEx Corp., has opened a new distribution facility at Tradepoint Atlantic, a 3,100-acre global logistics center in Sparrows Point, roughly 15 miles southeast of Baltimore. The 307,000-square-foot facility connects existing FedEx Ground stations located in White Marsh and Halethorpe, and will support approximately 275 full- and part-time jobs, as well as 150 contracted service providers. FedEx occupies 50 acres within the northwest portion of the site, with close proximity to Interstate 695. JLL is the exclusive broker for Tradepoint Atlantic.

September 21, 2017

Industrial Maryland Southeast

Buchanan, Elion Purchase Industrial Portfolio in Metro D.C. for $81.2M

by Camren Skelton September 21, 2017

GAITHERSBURG, MD. — Buchanan Partners, in a joint venture with Elion Partners, has acquired a 700,000-square-foot industrial portfolio in suburban Washington, D.C. A joint venture between Ares Capital Corp. and Adler Group sold the assets for $81.2 million. The 14-building portfolio is spread across three different office parks along the Route 28 corridor in Northern Virginia: 3680-3863 Centerview Road in Dulles Business Park, 14420-14434 Albemarle Point Place in Westfields North and 14280-14290 Sullyfield Circle in Sullyfield Business Park. The new ownership plans to implement capital improvements, including landscaping and amenities, and will lease and manage the properties.

September 21, 2017

Loans Maryland Mixed-Use Southeast Top Stories

Goldman Sachs Provides $233M Private Equity Investment for Mixed-Use Redevelopment in Baltimore

by Kristin Harlow September 15, 2017

BALTIMORE — Goldman Sachs has committed $233 million to the Port Covington redevelopment project in Baltimore. This is the largest single private equity investment made by the firm’s Urban Investment Group (UIG) to date, according to a Port Covington news release. Port Covington is a 235-acre mixed-use redevelopment located on Baltimore’s waterfront adjacent to I-95. At completion, the 25-year project will include up to 18 million square feet of retail, entertainment, office, hotel and residential space. In addition, the project will encompass 2.5 miles of restored waterfront and 40 acres of parks and green space. Sagamore Development Co. and the UIG have entered into an agreement to jointly own the project and develop the infrastructure in Port Covington. Marc Weller of Sagamore Development will lead the infrastructure development team. The joint venture will own and develop the land in Port Covington that is adjacent to the campus of the future global headquarters of Under Armour. The footwear and sports apparel company owns 50 acres of Port Covington land, and is not involved in this transaction. Other businesses with land parcels in Port Covington that are not part of the joint undertaking include City Garage, Nick’s Fish House, Sagamore Spirit Distillery …

September 15, 2017

Maryland Retail Southeast

Marcus & Millichap Brokers $4.7M Sale of Grocery-Anchored Retail Center in Metro Baltimore

by Camren Skelton September 14, 2017

WINDSOR MILL, MD. — Marcus & Millichap has arranged the $4.7 million sale of a 94,851-square-foot retail property net-leased to Shoppers Food & Pharmacy in Windsor Mill, roughly 13 miles west of Baltimore. Preet Sabharwal and Michael Soleimani of Marcus & Millichap represented the seller, Jacqueline A. Mickiewicz Trust, in the transaction, and procured the buyer, a limited liability company. The property is located at 8212 Liberty Road at the corner of Liberty and Rolling roads.

September 14, 2017

Market Reports Maryland Mixed-Use Retail Southeast Southeast Market Reports

Mixed-Use Developments Winning the Retail Battles Across Metro Baltimore

by John Nelson September 11, 2017

Anxiety and hand-wringing about the future of retail were evident at this year’s ICSC RECon event, as developers, retailers and restaurant operators continue trying to make sense of the persistent march of online buying, while also looking to inject new enthusiasm into the bricks-and-mortar shopping experience. In the greater Baltimore metropolitan region, we are experiencing many of same issues as the balance of the country. But, like always, we believe this region has several built-in advantages that will continue to buoy the retail environment, including a diversified business climate, proximity to Washington, D.C., and presence of defense contractors. While “caution ahead” signs seem to be lurking around every corner, there are numerous developments in Baltimore that are screaming “full steam ahead.” Darwinism is in full effect locally, as shopping centers embedded within planned-unit developments or retail destinations offering e-commerce-resistant experiences are the venues with the brightest futures. The developers and retailers that are willing to accept and adapt to changing trends, such as millennials’ preference for experiences rather than ownership, are the entities that will be left standing after this latest seismic shift. Here is a quick look around the Baltimore area landscape, with a focus on the various starts …

September 11, 2017

Maryland Mixed-Use Southeast Top Stories

Natixis Arranges $125M Construction Loan for Mixed-Use Property in Baltimore

by Kristin Harlow September 8, 2017

BALTIMORE — Natixis has served as lead arranger for a $125 million senior loan for the construction of an 800,000-square-foot mixed-use property in Baltimore. Natixis, M&T and CIT are providing the capital. In addition, HFF arranged $44 million in mezzanine financing through Bridge Investment Group Holdings. The HFF debt placement team representing the borrower included Mark Remington, Brian Crivella and Drake Greer. Madison Marquette is developing the property, which is named One Light Street. The building will be 28 stories tall and feature 280 apartment units. The Class A property will also feature 252,243 square feet of office space, over 5,000 square feet of street-level retail and 646 parking spaces. M&T Bank is the lead tenant. The property is located near to the Inner Harbor, the Baltimore Ravens M&T Bank Stadium and Oriole Park at Camden Yards. “Downtown Baltimore is undergoing major urban renewal, from renovations of older buildings by local real estate investors to billion-dollar development projects by direct users like universities and corporations,” says Greg Murphy, head of Natixis Real Estate Finance Americas. “One Light Street will further add to downtown’s revitalization.” Madison Marquette is a real estate investment manager, developer, operator and service provider headquartered in Washington, D.C. …

September 8, 2017

Maryland Multifamily Southeast

Crow Holdings Capital Buys 244-Unit Multifamily Community in Metro D.C.

by Camren Skelton September 5, 2017

ODENTON, MD. — Crows Holdings Capital – Real Estate has purchased NOVUS Odenton, a 244-unit multifamily property in Odenton, roughly 30 miles northeast of Washington, D.C. The sales price was not disclosed. Walter Coker and Brian Crivella of HFF marketed the property on behalf of the seller, a joint venture between Cafritz Interests and Clark Enterprises Inc. Located at 315 Nevada Ave., NOVUS Odenton is within walking distance of the Odenton MARC train station, which provides service to both the D.C. and Baltimore central business districts. The community includes one-, two- and three-bedroom units and features nine-foot ceilings, granite countertops, faux wood plank flooring, walk-in closets and in-unit washers and dryers. Community amenities include a swimming pool, patios with outdoor cooking areas, fitness center, yoga room, theater and media room, game room and a pet-grooming salon.

September 5, 2017

Maryland Multifamily Southeast

Greysteel Brokers $10.3M Sale of Multifamily Property in Metro DC

by Camren Skelton August 22, 2017

HYATTSVILLE, MD. — Greysteel has brokered the $10.3 million sale of Courtyard Park, a 94-unit apartment community in Hyattsville, roughly seven miles northeast of Washington, D.C. Signature Properties acquired the property from CRG Cos. Kyle Tangney, Herbert Schwat and Ari Azarbarzin of Greysteel negotiated the transaction. Located at 4201-4213 Oglethorpe St., Courtyard Park, constructed in 1948, comprises seven four-story buildings.

August 22, 2017

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