Maryland

American Tire Distributors Signs 138,240 SF Industrial Lease in Baltimore County

by John Nelson January 28, 2015

WHITE MARSH, MD. — American Tire Distributors has signed a 138,240-square-foot lease with Chesapeake Real Estate Group LLC for warehouse and distribution space at 11503 Pocomoke Court, a new building under construction in the Baltimore Crossroads @95 business community near White Marsh in Baltimore County. The international tire supplier expects to take occupancy upon completion of the building in fall 2015. Baltimore Crossroads @95 is a 1,000-acre mixed-use business community configured to support more than 6 million square feet of Class A office, R&D/flex, warehouse and industrial and retail space, as well as residential components that include a luxury apartment complex, condominiums, townhomes and single-family homes.

January 28, 2015

Riverside Distribution Center Aaron's Baltimore

Industrial Maryland Southeast

DTZ Represents Aaron’s in 100,000 SF Warehouse Lease Renewal in Maryland

by John Nelson January 27, 2015

BELCAMP, MD. — DTZ has arranged a 100,000-square-foot lease renewal of warehouse space at Riverside Distribution Center in Belcamp, roughly 26 miles northeast of Baltimore along I-95. Exeter Property Group owns the 599,000-square-foot Riverside Distribution Center. The tenant, Aaron’s, a furniture and home appliances retailer, will use the warehouse for distribution and fulfillment purposes for the Mid-Atlantic region. Michael Walsh, Kirk Diamond and Erin Smith of DTZ represented Aaron’s in the lease transaction.

January 27, 2015

Loans Maryland Office Southeast

HFF Arranges $103M Refinance of Office Building in Downtown Bethesda

by John Nelson January 21, 2015

BETHESDA, MD. — HFF has secured $103 million in refinancing for an 11-story, 274,526-square-foot office building located at 7200 Wisconsin Ave. in downtown Bethesda. HFF secured the four-year, floating-rate loan with a one-year extension option through SunTrust Bank on behalf of the borrower, The JBG Cos. The office building’s tenants include Edens, Linowes & Blocher, Singapore Economic Development, University Research, Enviva and StonebridgeCarras. Sue Carras, Walter Coker, Brian Crivella, Neil Campbell and Nicole Snarski of HFF made up the debt placement team. The JBG Cos. plans to use the loan to fund tenant and capital improvements, leasing commissions and the construction of additional street-level retail, according to HFF.

January 21, 2015

Industrial Maryland Southeast

Pro Transport Signs 51,120 SF Industrial Lease at Baltimore Crossroads

by John Nelson January 21, 2015

BALTIMORE — Pro Transport Inc., a private transportation and logistics company, has signed a lease for 51,120 square feet of industrial space within Baltimore Crossroads, a master-planned 1,200-acre mixed-use business park in the White Marsh area of Baltimore County. Pro Transport will occupy 100 percent of the R&D/flex facility located at 11630 Crossroads Circle, which is currently under construction. The company will relocate to the property upon completion in the spring. The single-story property is being constructed to achieve LEED Gold certification. The landlord, St. John Properties Inc., was internally represented by Matt Lenihan in the lease transaction. Lenihan also represented Pro Transport.

January 21, 2015

Affordable Housing Maryland Multifamily Southeast

Enterprise Homes, SunTrust Team Up for $24.6M Renovation of Affordable Housing Project

by John Nelson January 14, 2015

FREDERICK, MD. — Enterprise Homes and SunTrust Bank are teaming up on the $24.6 million renovation of Taney Village Apartments in Frederick. Constructed in 1978, the building features 130 one-bedroom affordable homes designated for seniors and adults with disabilities earning up to 60 percent of the area median income. Thirteen of the apartments are reserved for residents with disabilities. The renovation will include new energy-efficient windows, heating and air conditioning, kitchens, appliances and bathrooms. Common areas including hallways, corridors and lobbies, the community room, fitness room and laundry facilities will also undergo renovations with new lighting, flooring, paint and furniture. New elevators will also be installed. The development cost will be funded through a combination of Low-Income Housing Tax Credit equity and loans provided by SunTrust Bank, as well as loans from Wells Fargo Bank, Bank of America, the Maryland Department of Housing and Community Development and Frederick County. The design team includes general contractor Plano-Coudon, architect Grimm + Parker and property manager Habitat America. Renovations will be completed by fall 2015.

January 14, 2015

Maryland Mixed-Use Southeast

Retail Properties of America Acquires Retail Portion of Downtown Crown in Metro D.C. for $162.8M

by John Nelson January 13, 2015

GAITHERSBURG, MD. — Retail Properties of America Inc. (RPAI) has purchased the retail portion of Downtown Crown, a Class A, mixed-use development in Gaithersburg, a suburb of Washington, D.C. RPAI purchased the 258,000 square feet of retail space from The JBG Cos. and JBGR Retail for $162.8 million. The retail component includes a Harris Teeter-anchored neighborhood center and a lifestyle center housing tenants such as Coastal Flats, Ted’s Montana Grill, Old Town Pour House and Ruth’s Chris Steakhouse. The retail portion of Downtown Crown opened in phases beginning in the fourth quarter of 2013 and is currently 77.5 percent leased.

January 13, 2015

Industrial Maryland Southeast

Tribune Media Sells Printing Facility in Baltimore for $46.5M

by John Nelson December 22, 2014

BALTIMORE — Tribune Media Co. has sold its printing facility at 300 E. Cromwell St. in Baltimore for $46.5 million. The 60-acre property holds the printing facility for The Baltimore Sun, a Tribune-owned newspaper that currently has a long-term lease on the property. The net proceeds after transaction costs and taxes are slated to be roughly $30 million. The buyer was undisclosed.

December 22, 2014

Maryland Multifamily Southeast

Federal Capital Buys Maryland Apartment Community for $21.8M

by John Nelson December 2, 2014

FORESTVILLE, MD. — Federal Capital Partners has acquired Regency Square, a 366-unit apartment community in Forestville, for $21.8 million in an off-market transaction. Federal Capital will invest roughly $8 million of upgrades to Regency Square’s common areas and building systems after closing. The property is Federal Capital’s ninth apartment community acquisition in 2014. Federal Capital has retained Gates Hudson to manage the property. Robin Williams, Dean Sigmon and Justin Shay of Transwestern represented the undisclosed seller in the transaction. Capital One Bank provided acquisition and renovation financing on behalf of Federal Capital.

December 2, 2014

Maryland Multifamily Southeast

UIP, Criterion Acquire Two Apartment Complexes in Maryland for $39.3M

by John Nelson November 20, 2014

LAUREL AND GLEN BURNIE, MD. — Urban Investment Partners (UIP) and Criterion Holdings have acquired two apartment communities in Maryland totaling 385 units for $39.3 million. The properties include the 235-unit Laurel Pines at 14601 Bowie Road in Laurel and the 150-unit Country Club Apartments at 7491 E. Furnace Branch Road in Glen Burnie. An affiliate of Starr Cos. provided equity for the transaction, making Starr Cos. a part of the new ownership group. CBRE’s Mid-Atlantic multifamily investment sales team represented the seller, a partnership between Boston-based Intercontinental Real Estate and Sawyer Realty Holdings, in the transactions. UIP Property Management Inc. will manage the day-to-day operations at both communities, and UIP Asset Management will oversee capital improvements at both properties.

November 20, 2014

Industrial Maryland Southeast

Chesapeake Real Estate Group Breaks Ground on Warehouse/Distribution Center in Baltimore County

by John Nelson November 19, 2014

WHITE MARSH, MD. — Chesapeake Real Estate Group LLC has begun construction on a speculative 100,685-square-foot warehouse/distribution center located at 11501 Pocomoke Court in White Marsh, an unincorporated community in Baltimore County, roughly 12 miles northeast of Baltimore. The property will be located in the Baltimore Crossroads @95 business community, a 1,000-acre mixed-use business park. Carpet Consultants, a provider of residential and commercial flooring products, signed a lease with Chesapeake for roughly 18,000 square feet of space, or 20 percent of the building. The company will relocate its entire operation to the project upon completion. The property will feature 28-foot clear heights, 21 rear-loading docks, two drive-in doors, a 125-foot truck court and a surface parking lot. Chesapeake plans to deliver the property in the first quarter of 2015.

November 19, 2014

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