Maryland

GSK Global Vaccine Centre, Rockville, Md.

BioMed Realty Sells 635,058 SF Research Facility in Maryland for $337.5M

by Jeff Shaw January 9, 2017

ROCKVILLE, MD. — BioMed Realty has sold the GSK Global Vaccine Centre, a three-building, 635,058-square-foot vaccine research and development facility in the Washington, D.C. suburb of Rockville, for $337.5 million. The buyer was not disclosed. Originally built in 2003, the facility is situated on a 28-acre site in the heart of the Interstate 270 corridor, known as “DNA Alley” for its high density of biotech companies. The location is near the National Institutes of Health, the National Cancer Institute Headquarters, the U.S. Food and Drug Administration, the University of Maryland Shady Grove Life Sciences Center and Johns Hopkins University Belward Campus. The GSK Global Vaccine Centre is fully leased to GSK, a subsidiary of British pharmaceutical company GlaxoSmithKline, which announced its move into the property in December 2016. The campus will house up to 450 scientists and support staff working on 12 vaccine development programs, including potential vaccines for shingles, dengue fever, respiratory syncytial virus and Group B Streptococcus. The property is GSK’s third global vaccine center, following its existing facilities in Italy and Belgium. HFF’s Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson represented BioMed in the sale. Kevin MacKenzie, Cary Abod and Lee Redmond, also …

January 9, 2017

Maryland Retail Southeast

Greysteel Brokers $19.9M Sale of Shopping Center in Metro Baltimore

by John Nelson January 5, 2017

REISTERSTOWN, MD. — Greysteel has arranged the $19.9 million sale of Chartley Park-Landmark Shopping Center, a 144,000-square-foot retail property located at 1 Chartley Drive and 501 Main St. in Reisterstown. Gil Neuman of Greysteel represented the seller, Chartley and Landmark Shopping Center LLLP, and procured the buyer, MD Equities LLC. Situated in Baltimore County, Chartley Park-Landmark was 94 percent leased at the time of sale to tenants such as Brick Bodies, M&T Bank, Family Dollar, Boost Mobile, Citgo, ATI Physical Therapy and Metro PCS.

January 5, 2017

Loans Maryland Retail Southeast

Natixis Provides $26.5M Loan for Shopping Center in Bethesda

by John Nelson December 23, 2016

BETHESDA, MD. — Natixis has provided a $26.5 million, floating-rate loan for Shops of Wisconsin, a 71,748-square-foot neighborhood shopping center in Bethesda. The borrower, Douglas Development, will use the proceeds to refinance the property and provide funds for the tenant improvements of the new Target Express. In addition to the new Target Express, the center also contains nine other national and local tenants, including Trader Joe’s, Gymboree, Jenny Craig and H&R Block.

December 23, 2016

Maryland Multifamily Southeast

StoneBridge Investments Acquires Apartment Community in Maryland for $25.5M

by John Nelson December 22, 2016

COLUMBIA, MD. — Washington, D.C.-based StoneBridge Investments has purchased Beech’s Farm, a 135-unit apartment community located in Columbia, roughly 21 miles southwest of Baltimore. StoneBridge acquired the asset from an entity controlled by McDowell Properties for $25.5 million. Built in 1985 along Eden Brook Drive, the apartment community is situated across the street from King’s Contrivance Village Center, a Harris Teeter-anchored shopping center. StoneBridge plans to renovate the property’s apartment interiors and add a fitness center. ZRS Management, an affiliate of StoneBridge, currently manages Beech’s Farm. CBRE’s Mid-Atlantic multifamily represented the seller in the transaction.

December 22, 2016

Maryland Multifamily Southeast

Federal Capital Partners Sells Multifamily Portfolio in Metro D.C. for $328M

by John Nelson December 12, 2016

CHEVY CHASE, MD. — Federal Capital Partners (FCP) has completed the largest multifamily transaction in the Washington, D.C., metropolitan area in 2016 with the $328 million sale of a five-community apartment portfolio. The portfolio includes: • Cypress Creek in Hyattsville, Md. (760 units) • Penn Landing in Forestville, Md. (598 units) • Cambridge Apartments at New Carrollton Station in New Carrollton, Md. (466 units) • Summerlyn Place in Laurel, Md. (424 units) • Toledo Plaza in Hyattsville, Md. (242 units) FCP sold the 2,490-unit portfolio through the firm’s Funds I and II. CBRE represented FCP in the portfolio sale to the undisclosed buyer.

December 12, 2016

Maryland Multifamily Southeast

Klein Enterprises Delivers Apartment Community in Maryland

by John Nelson November 23, 2016

BEL AIR, MD. — Klein Enterprises has delivered The Park at Winters Run, a 288-unit apartment community located on a 17-acre parcel in Bel Air. Units feature 9-foot ceilings, walk-in closets, Energy Star appliances, granite countertops, washers and dryers, patios or balconies, elevator access and internal access to garage parking for many units. Community amenities include a 24-hour fitness center; saltwater swimming pool; pet wash area; clubhouse with an entertainment kitchen; game room with billiards, shuffleboard and card tables; playground; outdoor patio with a grill and fire pit; 24-hour business center; free Wi-Fi in common areas; and 24-hour maintenance. A future retail component is planned for the property. The Dolben Co. Inc. manages The Park at Winters Run on behalf of Klein Enterprises.

November 23, 2016

Conference Coverage Maryland Southeast

Nearly 300 Professionals Participate in Annual Saul Ewing Real Estate Conference

by John Nelson November 22, 2016

BALTIMORE — Highlighted by a presentation from Marc Weller of Sagamore Development Co. and Demian Costa of Sagamore Industries LLC, who provided an update on the development activities occurring at Under Armour’s Port Covington development in South Baltimore, nearly 300 professionals from around the country attended the 8th-annual Saul Ewing Real Estate Conference at the Baltimore Convention Center. The half-day seminar also featured educational sessions focusing on placemaking principles being utilized in current real estate projects, technology tools that are employed to improve marketing and communication and a discussion of the equity and debt marketplace, especially as affected by the recent presidential election. “Based on feedback from the attendees, we achieved each of our goals at this year’s event, including the presentation of an educational forum that stimulated insightful comments and thoughts about the current real estate environment,” said Howard Majev, a partner in the real estate practice with Saul Ewing and the lead organizer of the annual conference. “Our clients and partners invest time at this conference each year because they value the outstanding networking opportunities, the exchange of ideas and the information benefits they receive from interacting with their peers and thought leaders of our industry.” Commentary from the …

November 22, 2016

Maryland Retail Southeast

PREIT Signs Ulta Beauty, DSW as Part of $30M Overhaul of Mall at Prince Georges

by John Nelson November 17, 2016

HYATTSVILLE, MD. — PREIT, a Philadelphia-based retail REIT, has signed Ulta Beauty and DSW to leases at Mall at Prince Georges in Hyattsville as part of the mall’s $30 million remerchandising and renovation program. Located at 3500 East-West Highway in suburban Washington, D.C., the property will undergo a facelift in early 2017 that encompasses new exterior facades and entrances, in addition to PREIT’s remerchandising efforts. Ulta Beauty has leased an 11,000-square-foot space at the mall, and DSW has leased 16,000 square feet. Both retailers are set to open their stores in the second quarter of 2018. PREIT also signed H&M to a 20,000-square-foot lease earlier this year, and the apparel retailer plans to open its store next month. PREIT plans to wrap up the mall’s renovations in time for the 2017 holiday season and complete the remerchandising in 2018, at which time about 73 percent of the non-anchor space — including new and existing shops and restaurants — will have new storefronts.

November 17, 2016

Maryland Multifamily Southeast

Ares, TruAmerica Acquire Multifamily Portfolio in Suburban Baltimore for $236M

by John Nelson November 14, 2016

BALTIMORE — A partnership between funds managed by Ares Management and TruAmerica Multifamily has purchased a 1,402-unit multifamily portfolio in suburban Baltimore for $236 million. The acquisition included Dominion at Eden Brook and Dominion Kings Place in Columbia, Lakeside Mill in Owings Mills, Ellicott Grove in Ellicott City, Arborview at Riverside & Liriope in Belcamp and Dominion Constant Friendship in Abingdon. The partnership will implement a multimillion-dollar renovation and repositioning program across the portfolio. Exterior upgrades will consist of landscaping, painting, updated signage and common area updates. Approximately half of the residential units will be renovated to include new appliance packages, faux-wood hard-surface flooring, new countertops and upgrades to existing cabinets.

November 14, 2016

Hospitality Loans Maryland Southeast

Applied Bank Provides $21M Construction Loan for New Hyatt Place Hotel in Maryland

by John Nelson November 11, 2016

OCEAN CITY, MD. — Washington, Del.-based Applied Bank has provided a $21 million construction and permanent loan for a new Hyatt Place Hotel located at 16th Street and Boardwalk in Ocean City. The new 105-room, seven-story hotel will replace the existing Seascape Motel, which opened in the 1950s. The property will feature a restaurant, bar, outdoor veranda, meeting rooms, room service, indoor and outdoor swimming pools and a fitness center, as well as six shops fronting Boardwalk. The owner, PRBR Hospitality LLC, has owned the site since 1978.

November 11, 2016

Newer Posts

Older Posts