Real Estate Weekly ? 6/8/12

Posted: 1:47 pm Fri, June 8, 2012
By Daily Record Staff

Haven at Odenton Gateway development achieves green building certification

Haven at Odenton Gateway, a 252-unit community in Odenton, has received the first National Green Building Standard Silver certification for a multifamily residential project in Maryland. The development, which opened in April 2012, features enhanced storm-water treatment; native landscaping selections; low-volume irrigation system; on-site recycling facility; high-efficiency windows, lighting and HVAC, innovative insulation and air-sealing, Energy Star appliances; and third-party inspection and performance verification. Haven at Odenton Gateway is a project of Johnson Development Associates, a multi-family residential developer headquartered in Spartanburg, S.C. The National Green Building Standard is a residential green building rating system promulgated by the National Association of Home Builders and the International Code Council. The NGBS has four levels: Bronze, Silver, Gold and Emerald.

Construction starts on renovation and addition at Stoneleigh Elementary

Baltimore County public and school officials were on hand Wednesday as construction began on an addition and renovation project at Stoneleigh Elementary School in Towson. The addition, scheduled for completion in August 2013, is designed to relieve significant overcrowding at the school at 900 Pemberton Road. To expedite the construction process, Stoneleigh students and staff will relocate to the existing George W. Carver Center for Arts and Technology for the 2012-2013 school year, as that school moves into a new building.

Metro Centre at Owings Mills unveils new website

Metro Centre at Owings Mills, a mixed-use, Transit-Oriented Development under construction in the Owings Mills submarket of Baltimore County, has launched its new website (www.MetroCentreOM.com). The website contains separate sections that highlight various components of the Transit-Oriented Development including planned commercial office and retail space; residential availabilities; a full-service hotel amenity, and the Baltimore County Public Library and Community College of Baltimore County. Full-color renderings depict the different product types and features. The project?s first phase consists of up to 300,000 square feet of Class ?A? loft office space, up to 100,000 square feet of retail and restaurant space, as well as approximately 250 apartments. A six-story, 120,000-square-foot building ? the future home of the largest branch of the Baltimore County Public Library and the Community College of Baltimore County ? overlooking Interstate 795 is approximately 50 percent completed. The developer is Owings Mills Transit LLC. David S. Brown Enterprises LTD of Owings Mills is managing the project.

Walker & Dunlop expands reach with new office in Milwaukee

Walker & Dunlop Inc., of Bethesda, a commercial real estate finance company whose primary focus is on multifamily lending, announced it will open a new office in Milwaukee, Wis., and has hired two experienced executives, James M. Cope and Patrick K. Dempsey, to run it. Prior to joining Walker & Dunlop, Cope and Dempsey were with Grandbridge Real Estate Capital, where they specialized in originating and structuring commercial real estate financing for all property types. In their new positions with the company, the pair will focus on financing all types of income-producing properties, including office, apartments, hotels, industrial and retail, in the Midwest region.

Rebuilding Together Montgomery County

collects $114K at unique fundraising event Rebuilding Together Montgomery County collected more than $114,000 at a fundraising event at the popular Shops at Wisconsin Place in Chevy Chase on May 31. The event, called ?Rebuilding Hope: The RTMC Playhouse Project,? was based on eight one-of-a-kind playhouses that were each designed and donated by the area?s leading builders to help support the nonprofit housing organization, and its mission of creating safe and healthy homes for low-income and disabled individuals. Of the more than $114,000 raised, $53,500 was raised from the sales of the playhouses. The first playhouse that was auctioned off was Anthony Wilder Design/Build Inc.?s ?Engine #7913,? an iconic fire truck inspired by the architectural design/build firm?s historic Cabin John-based office, the former Cabin John fire station from the 1930s. The fire truck was the highest-selling playhouse that evening, raising $17,000 for RTMC. The winning bidders, Sonya and Tom Ricketts, announced that they are going to donate the fire truck to the Children?s Inn at NIH in collaboration with the team at Anthony Wilder Design/Build.

Thurmont considers sale of land to state

(AP) The town of Thurmont says it?s negotiating to sell 450 acres to the state to expand nearby Cunningham Falls State Park. The Frederick News-Post reported that officials of the Frederick County community held a closed meeting Tuesday to discuss the matter. Mayor Martin Burns said the state approached the town about buying the land, which is surrounded by the park. He said the initial offer was too low but the state is now offering more. Burns said the town would keep about 80 acres, including the town?s reservoir. Cunningham Falls covers at least 5,000 acres in the Catoctin Mountains north of Frederick.

ToolBank to open doors in Baltimore

The Baltimore Community ToolBank, a tool-lending resource for charitable organizations, will hold a grand opening ceremony on Friday at its headquarters at 1224 Wicomico St. in Baltimore. Under the ToolBank program, charitable organizations can borrow high-quality tools and equipment for a week, such as those needed for carpentry, construction, custodial, landscaping and more, alleviating the need to purchase expensive tools to complete community service projects. Sponsored in part by The Home Depot Foundation, The Abell Foundation, Stanley Black & Decker and UPS, the local program is only the third affiliate under the ToolBank USA umbrella. Similar resources are operating in Atlanta and Charlotte, N.C.

Howard County, Columbia Association

to jointly study bike-sharing feasibility Howard County and the Columbia Association have been awarded a Maryland Bikeways Grant by the Maryland Department of Transportation to perform a study on the feasibility of developing a bike-share system in the county. Bicycle sharing makes bikes available to individuals who do not own a bike or who do not want to use their own bike for short trips. They provide an alternative travel choice to private vehicles, which reduces traffic congestion, noise and air pollution. Bike-sharing systems also improve connectivity to other modes of public transportation for people who live just beyond a bus stop or transit station. Howard County and the Columbia Association will partner to conduct the $50,000 feasibility study, which will assess the demand for a bike-share system, identify how it would operate, the impact it would have on air quality and congestion, funding strategies and opportunities, and also develop a plan to implement and build the system.

Cassidy Turley brokers sale of Tech Center 29 in Silver Spring

Cassidy Turley announced the sale of Tech Center 29, a four-building, 288,392-square-foot office/flex portfolio located directly off Route 29 in north Silver Spring. A joint venture of Bernstein Management Corp., of Washington, and Spectrum Partners, of Bethesda, purchased the 93 percent-leased portfolio for $31.1 million. Jonathan Carpenter and James Wellschlager of Cassidy Turley?s Capital Markets Group represented the seller, Cleveland-based DDR Corp. ?With a prime Montgomery County location within close proximity to I-95, I-495 and the new Inter-County Connector, Tech Center 29 will continue to provide office, small-bay warehouse and flex users very practical space options that are becoming increasingly difficult to find in the supply-constrained Baltimore Washington Corridor,? said Carpenter, senior vice president and principal at Cassidy Turley.

LEASES

Business Health Services has leased approximately 11,000 square feet of office space at the Marbury Building, 6225 Smith Ave., in Mount Washington. BHS specializes in corporate wellness, population health management and employee assistance program, providing customized solutions to client companies nationwide. F. Joseph Bradley III, vice president of MacKenzie Commercial Real Estate Services, partnered with BHS to provide tenant representation services throughout the course of the leasing transaction. BHS will take possession of the new office space in early June.

Corporate Cleaning Solutions LLC leased 4,963 square feet of office space at 8040 Old Alexandria Ferry Road in Clinton from Wharton Storage Co. LLC. Land & Commercial Inc., a commercial real estate brokerage firm in Upper Marlboro, represented both parties in the three-year lease agreement. L&C?s Leo Bruso represented the landlord, and Carrie J. Shearer was the tenant representative in the transaction. Corporate Cleaning Solutions is a full-service commercial cleaning and facility maintenance company, and also performs landscaping and landscape design.

Merritt Properties LLC reported a 15,004-square-foot lease of office space at its Baltimore Commons Business Park, 7484 Candlewood Road, in Hanover, by American Community Management. ACM is a community administrative service company that assists common-interest community association boards of directors in the management of their communities. The company will continue to operate its office in Timonium, as well as occupy the new location in Hanover. Ketch Secor of CBRE represented ACM in the transaction. Merritt?s in-house leasing team of Jamie Campbell, Liz Tarran-Jones, Vince Bagli and Steve Shaw handled negotiations for the landlord.

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