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Real Estate Weekly – 8/8/14

Kenseal Construction Products moves to Ostend Street 

Kenseal Construction Products relocated its office headquarters to the M.C. Dean Building, located at 180 Ostend St. The company, which produces products for the waterproofing, sealant and concrete/masonry markets, is leasing a 4,397 square feet of space. Kenseal Construction Products was represented by Cassidy Turley and the landlord, M.C. Dean Inc. was represented by Jones Lang LaSalle.

HarborView Towers announce interior renovation and design

The HarborView Towers Council of Unit Owners approved plans for $1.8 million for restoration and redesign of the building’s interior spaces. The improvements will be made to the building’s 6,000 square feet of public space that includes a clubhouse, fireside lounge and private dining area. Construction on the building was completed in 1993 and was one of the first residential developments along the waterfront on Key Highway.

Shoregate Partners purchase Annapolis industrial-flex building

Shoregate Partners has purchased an industrial-flex building in Annapolis for $4.3 million. Colliers International in Baltimore represented the private seller of the 42,214-square-foot property located at 1805 Margaret Ave. The seller built the one-story structure in 1983 and has leased and managed the property since. The building is currently 88.2 percent leased by multiple tenants.

Dolben, Klein affiliate purchases Reserve at Stoney Creek

Stoney Creek Phase I LLC, a partnership between the Dolben Co. Inc. and Klein Enterprises, purchased the The Reserve at Stoney Creek apartments in Pasadena for $15 million. the first phase of the project was delivered in 2011 and involves 90 apartments with garages. The second phase is set to begin in the third quarter of 2014. The companies two other joint ventures are the Marketplace at Fells Point and the Apartments at Charlestown Crossing.

Remington Row gets key approval from city commission

The Baltimore Planning Commission backed staff approval for the design and designation for a planned unit development needed for Seawall Development Co. to build the mixed-use Remington Row. The commission made its decision Thursday regarding the development, which includes building a new 5-story structure with 15,000 square feet of retail space, 35,000 square feet of office space and 108 apartments on the west side of the 2700 block of Remington Avenue.

Murphy & Dittenhafer designing Sparrows Point Country Club renovations

Murphy & Dittenhafer Architects have been chosen to design renovations and additions to Sparrows Point’s Baltimore clubhouse and pool house as well as design a new golf course maintenance building. The design plans will focus on improvements to existing dining areas, snack bar and locker rooms. There will also be modifications to the club house’s first and second levels.

Baltimore Community Foundation remains in Mount Vernon 

The Baltimore Community Foundation has renewed is 10,952-square-foot lease at its current offices at 2 E. Read St. in Baltimore’s Mount Vernon neighborhood. The foundation is a philanthropic organization aimed at improving the greater Baltimore region. David Downey of Cassidy Turley represented the foundation and Wallace H. Campbell & Co. Inc. represented the landlord Latrobe Building LLC.

PNC Mortgage and Howard Bank join state mortgage program

PNC Mortgage and Howard Bank are the latest lenders to join the Maryland Mortgage Program. Those banks bring the number of local and national lenders participating in the network to 64. Howard Bank has branches in Howard, Harford, Anne Arundel and Baltimore counties. PNC Mortgage is a division of Pittsburgh-based PNC.

Family Dollar to Anchor Cold Spring Shopping Center 

Pikesville-based Schwaber Holdings, announced Family Dollar will lease 8,900 square feet of the 22,000-square-foot Cold Spring Shopping Center.  The company also announced plans to renovate the shopping center with a new facade and storefront, as well as replacing portions of the roof.  There will also be enhanced signage, lighting and landscaping.

Ellin & Tucker showoff innovative office space

Edwin R. Brake, Ellin & Tucker’s managing director, led a tour of the firm’s new 31,000-square-foot office space at 400 E. Pratt St. The new space will feature amenities like a “fun space,” a multimedia center with a bar and fridge stocked with beer. The office, which will take up the building’s second and part of the third floors, will also feature a more open office space with lower work stations and fewer isolated offices to create a more collaborative environment.

Can Co. building owners receive $32M in financing

Commercial real estate services firm Cassidy Turley announced it arranged $32 million in financing for The Can Co. Building’s owners. New Jersey-based Normandy Real Estate Partners and Baltimore-based Cross Street Partners own the building. The 206,992-square-fo0t building is located in Baltimore’s Canton neighborhood. The mixed-use development includes 54,239 square feet of retail space and 151,488 square feet of office space. The building is 98 percent leased and its major tenant is Millennial Media Inc.

HarborView owners association found in contempt 

A Baltimore Circuit Court judge has found HarborView Towers owners association in contempt and ordered it to pay a tenant $15,543 a month for 18 months for failing to make repairs to prevent water damage in the time established through arbitration.

Pangea Oaks ribbon cutting set 

Private real estate investment firm Pangea Properties has scheduled a ribbon cutting to celebrate the completion of the rehabbed Pangea Oaks. The company rehabbed the buildings, located at 2908 Garrison Blvd., that had been neglected and deteriorating for 12 years. Mayor Stephanie Rawlings-Blake is scheduled to attend the ribbon cutting, set for 10 a.m., Aug. 18.

Leases 

W.R. Grace & Co. has agreed to lease 151,189 square feet at 6610 Cabot Drive in Baltimore. The company, which supplies specialty construction chemicals and building materials, will occupy the space in October. The building provides 30-foot ceiling heights, 21 loading docks and excess trailer storage.

Personnel

Long & Foster announced it has appointed Martha Martinez as the new sales manager and Kenneth Fagan as branch manager for the company’s Mitchellville office. Fagan most recently worked as a sales associate at a brokerage in Pennsylvania and also served as a branch manager at a baking company in that area as well. Martinez previously worked as a sales associate at Long & Foster’s College Park office.

St. John Properties Inc. announced it has promoted Thomas Pilon to senior vice president, development. Pilon has worked for the commercial real estate firm since 1997. He was previously vice president, development and managed projects in Anne Arundel, Baltimore, Carroll and Howard counties.

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