Real Estate Weekly: 12/21/12
Posted: 2:16 pm Fri, December 21, 2012
NAIOP members step up to help Paul’s Place
Members of NAIOP Maryland donated several hundred pounds of clothing and footwear to benefit Paul’s Place, a nonprofit organization that provides clothing, food and services to residents in the Pigtown area of Baltimore. Donations were collected from attendees of the recent NAIOP Maryland Holiday Luncheon. Shown here in the photo, taken at the luncheon, are, from left, Abby Glassberg, CBRE; Kate Jordan, NAI KLNB; Brendan Gill, MacKenzie Management; and Matt Melnick, Cushman & Wakefield.
New store opens at Loch Raven Plaza
Aaron’s, a furniture and electronics store, has opened in 7,566 square feet of retail space at Loch Raven Plaza at the intersection of Loch Raven Boulevard, Taylor Avenue and Goucher Boulevard in Towson. Other tenants at the shopping center, representing a mix of local and national retailers, include Aldi Food Market, Dollar Tree, and International House of Pancakes.
Maters joins Mahan Rykiel as business development head
Mahan Rykiel Associates, a Baltimore-based landscape architecture, urban design and planning firm, has hired Ryan Maters as director of business development. In that role, Maters will guide the firm’s strategic plan to support existing clients and market sector, and partner with MRA’s leadership to identify new business opportunities. Prior to joining MRA, Maters worked at Heery International, a national architecture, engineering, program management and construction management firm, where he was responsible for proposal management and coordination for Heery’s 26-state North Region. Maters graduated from the University of Pittsburgh with a bachelor’s degree in business administration.
Nordstrom Rack to open in Columbia in 2013
Nordstrom Inc., a Seattle, Wash.-based department store chain, said it plans to open a Nordstrom Rack at Columbia Crossing, a 475,000-square-foot shopping center in Columbia. The approximately 40,750-square-foot store, taking up space formerly occupied by Room Store, is expected to open in spring 2013. Nordstrom Rack is the off-price retail division of Nordstrom Inc., carrying merchandise from Nordstrom stores and Nordstrom.com at 50 to 60 percent off original Nordstrom prices. Nordstrom currently operates three Rack stores and four full-line stores in Maryland, including one of the latter in Columbia.
Rocky Gap owner gets bank line of credit
Evitts Resort LLC, the owner of the Rocky Gap Lodge & Golf Resort near Cumberland, has closed on a $17.5 million loan with Centennial Bank, of Conway, Ark., to partially finance conversion of existing meeting space at Rocky Gap into a gambling casino planned to open in 2013. Replacement of the meeting room space and refurbishment of the hotel lobby and guest rooms are also planned. The loan is collateralized by the leasehold estate of Rocky Gap and its furniture, fixtures and equipment. Evitts’ parent company, Lakes Entertainment Inc. of Minnetonka, Minn., guaranteed repayment of the loan and granted a second mortgage on its real property in Minnetonka as further collateral.
Kohl’s turns on largest solar project
Kohl’s Department Stores, of Menomonee, Wis., announced the activation of its largest solar project, at its million-square-foot e-commerce distribution center in Edgewood. The center — Kohl’s sixth solar site in Maryland — opened in 2011 and has received LEED Gold certification (Leadership in Energy and Environmental Design) from the U.S. Green Building Council, making it Kohl’s first LEED-certified logistics center. The Edgewood facility’s 8,360-panel, 2.4-megawatt, rooftop solar array will generate more than 3 million kilowatt-hours of electricity annually and provide more than 40 percent of the distribution center’s energy.
Susquehanna Bank moves downtown office
Susquehanna Bank has relocated its Light Street branch to 215 Key Highway, and closed the office at 22 Light St. in Baltimore. The new, 4,000-square-foot, Federal Hill branch is located across the street from the Maryland Science Center at Baltimore’s Inner Harbor. The branch includes a walk-up ATM, on-site customer parking, safe-deposit box and expanded hours, including Saturday. Federal Hill is the bank’s 23rd branch in the Greater Baltimore area. Susquehanna Bank operates 261 branches in the mid-Atlantic region, It is a subsidiary of Lititz, Pa.-based Susquehanna Bancshares Inc., a financial services holding company with assets of $18 billion and 3,400 employees.