TMCnet News
Daily Record Real Estate Notebook: September 30, 2011 [Daily Record, The (Baltimore, MD)](Daily Record, The (Baltimore, MD) Via Acquire Media NewsEdge) Choice's Cambria Suites spreads out Choice Hotels International Inc. of Silver Spring, announced plans for new Cambria Suites hotels in White Plains, N.Y.; Washington, D.C.; and Houston. Meyer Jabara Hotels, a Danbury, Conn.- based hospitality company, is building a 130-room Cambria Suites in White Plains as part of a $47 million mixed-use development. In Washington, Concord Hospitality Enterprises of Raleigh, N.C., and D.C.-based Roadside Development LLC are partnering to erect a 182- room Cambria Suites as part of CityMarket at O, a $300 million mixed- use development located by the D.C. Convention Center. Concord Hospitality also is developing a 127-room Cambria Suites near the Houston airport. BBB warns of timeshare scam The Baltimore-based Better Business Bureau of Greater Maryland Inc. is warning timeshare owners who are trying to sell or rent their units to beware of a Las Vegas-based company called City Resorts. According to the BBB, City Resorts contacts timeshare owners stating that they have found a buyer for their timeshare. According to complaints, the owners are told to send a cashier's check ranging from $2,000 to $6,000 for closing costs or processing fees. Complainants -- including owners in Maryland, Pennsylvania and Virginia -- report that no buyers or renters emerged, and that they were unable to get responses to calls or get a refund of their money. SMECO to open solar electric facility Southern Maryland Electric Cooperative of Hughesville has retained Beltsville-based SunEdison LLC, a provider of solar energy services, to construct a 5,500-kilowatt solar electricity facility on land owned by SMECO next to its new Engineering and Operations Building. The solar facility, to be built on 47.2 acres of land, is scheduled to reach full commercial operation in early 2013. Financial terms of the deal were not disclosed. SMECO, a customer- owned electric distribution cooperative, serves 150,000 customers in southern Prince George's County, Charles County, St. Mary's County, and all but the northeast portion of Calvert County. Saul Centers acquired 3 shopping centers Saul Centers Inc., a Bethesda-based real estate investment trust focused on retail and office properties, said it paid $168.5 million for three shopping centers, totaling 635,000 square feet, in Montgomery, Anne Arundel and Carroll counties. They are Kentlands Square, a 241,000-square- foot shopping center in Gaithersburg, acquired for $74.5 million; Severna Park, a 254,000-square-foot neighborhood center in Severna Park, purchased for $61 million; and Cranberry Square, a 140,000- square-foot center in Westminster, bought for $33 million. The acquisitions were financed with a combination of bridge loans, cash and borrowings from the company's line of credit; and proceeds from the issuance of new shares of common stock and operating partnership units. Choice Hotels widens smartphones reach Choice Hotels International Inc. of Silver Spring announced several smartphone-related milestones, including the launching of its free app for Android users, and its iPhone app reaching its o1 millionth consumer download since its introduction in 2009. The Android app offers users the ability to find and book a room instantly on their phones, as well as GPS technology and mapping functions, and hotel-searching capabilities by city, airport, popular attraction and more. Choice also unveiled a redesigned mobile website, incorporating new features, such as GPS-based search functionality, one-touch calling and more hotel photos and amenities. Gondol chosen to head Live Baltimore Steven Gondol, presently the business relationship manager at Live Baltimore, has been named executive director of the Baltimore- based residential marketing organization. Gondol will take over the post on Saturday, when current Executive Director Anna Custer- Singh's resignation takes effect. Custer-Singh has led the nonprofit group since March 2007. Gondol, who has a bachelor's degree in urban planning from the University of Cincinnati, is a resident of Patterson Park. Live Baltimore promotes Baltimore City as a desirable place to live. In addition to maintaining a 500-page website, it offers home buying events and educational classes throughout the year so prospective renters and buyers can select a neighborhood that fits their needs. Bunting Center earns AIA citation The American Institute of Architects (AIA), Washington, D.C., chapter, presented the Presidential Citation for Urban Design to The Mary Catherine Bunting Center at Mercy Medical Center in Baltimore. The AECOM (Architecture, Engineering, Consulting, Operations and Management) design team leadership accepted on behalf of the entire Mary Catherine Bunting Center at Mercy project development team, including Thomas R. Mullen, Mercy president and CEO; the Whiting- Turner Contracting Co. and Patrick Ross Photography. Mercy Medical Center selected AECOM to design a new replacement hospital in the heart of downtown Baltimore via a design competition. The 700,000 gross-square-foot new hospital serves as a new "front door" for the urban campus. Extensive landscape areas, including a series of roof gardens, enhances the connection between nature and healing, and serves as a visual link between the adjacent historic park, Preston Gardens. MacKenzie unit picked to sell former Village of Carsins Run site MacKenzie Commercial Real Estate Services LLC of Lutherville has been selected by The Presbyterian Home of Maryland as the exclusive marketer for the sale of 138 acres of land in Harford County. As the last, largest developable contiguous land parcel along Maryland's heavily trafficked I-95 Corridor, the former Village at Carsins Run site is easily accessed by both local residents and interstate travelers. Situated near Aberdeen Proving Ground, Fieldside Commons and Cal Ripken Stadium, market research has shown the property is best suited for residential and retail opportunities. Efforts are underway to identify and secure a replacement site for the 127-year- old retirement living and health organization within the county's jurisdiction. MacKenzie's Thomas L. Fidler Jr. and F. Joseph Bradley III are in charge of the disposition of the property. Md. shopping center included in package of 36 sold to investors Equity One Inc., a North Miami Beach, Fla.-based owner, developer and operator of shopping centers, announced that it has entered into an agreement to sell 36 shopping centers comprising approximately 3.9 million square feet for $473.1 million to Blackstone Real Estate Partners VII. Although properties are predominantly located in the Atlanta, Tampa and Orlando markets, there are others in other states in the package, including the South Plaza shopping center in California, Md. The 92,335 gross-leasable-square-foot shopping center is anchored by Ross Dress for Less, Old Navy, Best Buy and Pe Northrop Team tops home sales ranking The Creig Northrop Team of Long & Foster Real Estate Inc., based in Clarksville, was ranked No. 1 in the nation in residential real estate transaction volume in 2010, according to a prestigious national list compiled annually by Real Trends Inc., a real estate consulting and communications company, and the Wall Street Journal. The Northrop Team closed $308 million worth of residential real estate transactions last year, far outstripping the second-place team, the New York-based Bracha Group of Keller Williams Realty, which closed $226.4 million worth of transactions. In all, nine Maryland-based individuals and companies made the list of the top 250 real estate sellers in the nation by sales volume. They are: Creig Northrop Team of Long & Foster Real Estate Inc., No. 1; Eric Pakulla of RE/MAX Advantage Realty, No. 36; Jane Fairweather of Coldwell Banker Washington, D.C./Virginia/NRT, No. 39; Coley Reed & Associates of Long & Foster Real Estate Inc., No. 77; The Banner Team of Long & Foster Real Estate Inc., No. 90; Hubble Bisbee Group of Coldwell Banker Greater Baltimore/NRT, No. 100; Guldi Real Estate Group of Keller Williams Realty, No. 128; Rozansky Realty Group of Long & Foster Real Estate Inc., No. 163; and Meg Finn of Long & Foster Real Estate Inc., No. 247. Builders and projects honored by Land Development Council Bob Goodier of Goodier Builders Inc. was named Developer of the Year by the Land Development Council of the Home Builders Association of Maryland. Awards also went to Eliot Powell of Whitehall Development LLC for Lifetime Achievement; Sean Davis of Morris & Ritchie Associates Inc., who was named Consultant of the Year; and Dan Whitehurst of Clark Turner Signature Homes LLC, who was singled out as the year's Rising Star. Numerous projects also were honored, including Maple Lawn, Walnut Grove, Tanyard Springs, Clipper Mill, Marea St. Michaels, Shipley's Grant and Briar Knoll. For details on these projects and the development teams behind their construction, click here. Medical imaging services provider opens office in Highlandtown American Radiology Services, a provider of medical imaging services that operates imaging centers throughout Maryland and Delaware, will open its newest office Oct. 3. The 7,192-square-foot center is located on the first floor of the Highlandtown Healthy Living Center, a 132,000-square-foot green medical office building that opened in March 2010 and provides primary care, pharmaceutical, mental health and ob/gyn services to 15,000 people in East Baltimore. The new ARS center at 3700 Fleet Street will be the first that the company has opened outside of a hospital building, according to a company spokeswoman. It replaces the ARS center at North Point, which closed on Friday. UM's WaterShed House tops architectural portion of Department of Energy 2011 Solar Decathlon The University of Maryland's innovative WaterShed House has won the architecture portion of a competition among 20 international collegiate teams that are competing in the U.S. Department of Energy's Solar Decathlon 2011 to design, build and operate solar-powered houses that are cost-effective, energy- efficient and attractive. The student- and faculty-built home, now on display on the National Mall in Washington, blends solar energy efficiency and water conservation. A panel of experts is judging the competing entries on their architectural qualities, market appeal, engineering, educational/communication effort, affordability, comfort zone, hot water systems, appliances, home entertainment and energy balance. The final decathlon results will be announced this weekend. The Maryland Solar Decathlon team consists of students and faculty from the Maryland School of Architecture, Planning and Preservation, the A. James Clark School of Engineering, the College of Computer, Mathematical, and Natural Sciences, the University Libraries, and the School of Agriculture and Natural Resources. Maryland businesses and professional groups are providing significant support as well. Renovation of historic Baltimore church building earns award The renovation of Baltimore's historic First & Franklin Street Presbyterian Church was recognized by Baltimore Heritage with a Restoration and Rehabilitation Award at recent ceremonies in Union Square Park. Murphy & Dittenhafer Architects of Baltimore completed architectural design services for the project. Work on the circa 1850s church building, which is listed on the National Register of Historic Places, included preserving the building's stem-and-branch ribbed ceiling vaults; installing new high-efficiency light fixtures to highlight elegantly recast plaster acanthus leaves and decorative rosettes; and restoring the original multicolored paint palette. Air conditioning was also installed in the religious structure for the first time in the church's history, and both building and site are now 100 percent handicap-accessible. Hogan Cos. brokers sale of land near Arundel Mills The Hogan Cos., an Annapolis-based land brokerage, announced the recent sale of a 1.77-acre parcel of raw land in Anne Arundel County. Located near the intersection of Arundel Mills Boulevard along Dorsey Road in Hanover, the commercially zoned property is in close proximity to what will be Maryland's largest casino at Arundel Mills mall. The property, which was purchased by an unidentified local investor, is one of several recently sold by Hogan's Land Brokerage Team in Anne Arundel County. Victor White, Hogan's chief operating officer, represented the owners, who also were not identified in the announcement of the sale of the land. Financial details of the transaction also were not disclosed. Deerco Road flex building purchased for $4.15 million Cassidy Turley announced the sale of Deereco I, a 40,151-square- foot flex building at 9474 Deereco Road, adjacent to I-83 in Timonium. Columbia-based Abrams Development Group purchased the building for $4.155 million. Jon Carpenter and Jay Wellschlager of Cassidy Turley's Capital Markets Group represented the seller, Deereco I LLC. Built in 1984, the building is 100 percent leased. PERSONNEL Manekin LLC of Columbia announced the hiring of Susan A. Homberg as vice president and Brendon Behan as assistant vice president in its brokerage division. Homberg, a 12-year industry veteran, will focus on tenant and landlord representation in the mid-Atlantic area's retail and office markets, and will work out of Baltimore. She most recently was vice president, real estate services for JPB Enterprises, and has also worked as a leasing specialist for Jones Lang LaSalle, overseeing retail leasing activities in the Washington metro area. Behan, a 16-year industry veteran, will work from Manekin's Columbia headquarters, focusing on landlord-tenant representation and lease advisory services in the Baltimore- Washington Corridor office-flex market. Behan formerly was an assistant vice president at McShea & Co., and also worked as a property manager for Transwestern Commercial Real Estate Services. The work at what soon will be Baltimore's newest park is in full swing near Pier 5. Look for Pierce's Park to open this fall. The development, located on a sliver of land behind the Columbus Center, is going to be an oasis for fun and creative play. Park benches will be made of recycled material, a unique tunnel is in place made of a living willow vine, a musical fence designed by local artist David Hess is being installed and plenty of shade trees will make this small space sparkle for young and old. The park is named for Pierce J. Flanigan III, president of the P. Flanigan and Sons road construction firm, who lived near the site of the park before his death in October 2008 from a brain hemorrhage. It is being funded through public funds and private donations. ***** What do Baltimore, San Francisco, Seattle and New York have in common besides similar pro-sports franchises? Jones Lang LaSalle published a market indicator last week that showed Charm City in top company when it comes to high-tech jobs and growth. This means a higher demand locally for office space leasing, and landlords here and nearby willing to adjust commercial space to lure firms to the open, loft appeal of the likes of Facebook, Google and Zynga, Jones Lang LaSalle, a national real estate firm, says. "High-tech innovations and a shift in workforce dynamics are changing the way companies view and use office space," Peter Miscovich, Managing Director in Jones Lang LaSalle's Corporate Solutions group, said in a statement. Other areas also in the spotlight are the Silicon Valley, Pittsburgh and Austin, Texas. Baltimore's fortunes are linked to BRAC and the move to add to the growing cybersecurity industry in the Baltimore-Washington corridor. High tech, healthcare and energy-related jobs are listed as the top three sectors to watch for growth in the near future. Here's what the report had to say about Baltimore: "Surprisingly strong high-tech cluster that emerged as a result of the federal government relocating the Defense Information Systems Agency's [DISA] headquarters from Northern Virginia to Fort Meade. High-tech tenants serving DISA are relocating to submarkets in the Baltimore region and their demand is outpacing available supply, leading to premiums almost 30 percent above the market average. While all federal government programs will be intensely scrutinized in the coming months and years, cuts to DISA appear unlikely as increased intelligence funding has been a priority over the past several years." ***** Baltimore Reads, an adult literacy center based downtown, has received a $100,000 donation from Wells Fargo - enough to rename the group's headquarters The Wells Fargo Literacy Center @ Baltimore Reads. The group offers adult literacy classes, GED prep, civics and English language acquisition. It also has a book bank that provides free children's books to schools, teachers, Head Start centers, social services agencies, community organizations and families unable to afford books for a home library. More than 1.5 million books have flowed through the free service since Baltimore Reads was founded in 1988. ***** Friends in Pigtown report that a new development there, Charm City Swing, has many in the historic neighborhood on the city's southwest side tapping their toes. Last week, the Swing opened its doors in a renovated church at 861 Washington Blvd. -- named, eloquently, the Mobtown Ballroom. Community advocates say that more than 75 dancers turned out for the fun, which included lessons in the Lindy Hop and other swing favs. Each Friday from 9 to 11:30 p.m., you can go and dance till your socks melt at The Baltimore Strut. If you want to jumpstart your week, each Monday, there is a DJ dance. "At approximately 8 p.m., we noticed quite a few very well dressed people (men in suits, ladies in dresses with lovely flowers in their hair) walking down the streets.......from all directions," said Beth Hawks, a proud Pigtown homeowner. "We went over to check it out and were pleasantly surprised to see the vast array of ages, 20 up to 75-plus, but most importantly, the smiles and laughter filling the room." As Pigtown has had its share of urban struggles, the community located near M&T Stadium just off of Martin Luther King Boulevard is giddy to be experiencing a renaissance, perhaps with roots in twinkle toes and a nod and a dip here and there. ***** TIDBITS: Broad Street Realty announced this week that BSV Crestview Square LLC has acquired 68,000-square-foot Crestview Square Shopping Center at 6747 Annapolis Road in Landover Hills, Prince George's County. Crestview is an investment partnership controlled by the principals of Broad Street Realty... Manekin LLC this week announced recent hires. Susan A. Homberg, vice president of real estate services for JPB Enterprises, was named a vice president, and Brendon Behan, an assistant vice president at McShea & Co., was named assistant vice president in Manekin's brokerage division... Want a tour of the soon-to-be-finished John and Frances Angelos Law Center at the University of Baltimore? The local real estate group, CREW, is hosting a tour and happy hour in Mt. Vernon on Oct. 13 beginning at 4 p.m. at the Whiting Turner construction trailer, located on the south side of Mt. Royal Avenue. Reservations are required and the cost is $30 for CREW members and $40 for non- members. Go to www.crewbaltimore.org for details. (c) 2011 ProQuest Information and Learning Company; All Rights Reserved. |