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Real Estate Weekly – 2/10/12: Ulman names new housing director

Zesto to open restaurant at Crossroads Village Center

Zesto Pizza & Grill, a Philadelphia-based restaurant chain, will open a 4,900-square-foot restaurant — its first in the Baltimore region — at the Crossroads Village Center. The company signed a lease with St. John Properties, the Baltimore real estate development firm that is developing substantial portions of the office and retail components of Baltimore Crossroads@95, a 1,000-acre, mixed-use business community on Route 43 near Interstate 95 in White Marsh. The restaurant anticipates opening in the second quarter of 2012, serving lunch and dinner seven days a week, as well as offering off-site catering services, take-out and delivery options. The restaurant will seat approximately 120.

CVS to open pharmacy at Maple Lawn

Lutherville-based MacKenzie Commercial Real Estate Services announced that CVS purchased a 1.76-acre parcel at Maple Lawn in Fulton, at the intersection of Route 216 and Westside Boulevard. The company intends to open a full-service pharmacy at the site this summer. MacKenzie Vice President John Schultz, along with Senior Vice President/Principals Thomas L. Fidler and John F. Harrington and Vice President O. Bowie Arnot represented both CVS and the developer, Pikesville-based Greenebaum & Rose Associates Inc., in the transaction. Maple Lawn is a 600-acre planned community in Howard County, three miles from I-95 and equidistant from Washington and Baltimore. The development has attracted national companies like CVS and supermarket chain Harris Teeter, as well as boutique stores and locally owned restaurants.

KLNB Retail picked to represent planned shopping center near APG

KLNB Retail has been named the exclusive sales broker for Aberdeen Station, a proposed shopping center adjacent to the Aberdeen Proving Ground in Harford County. Planning for the makeup of the development is underway, with consideration being given to either a retail pad park with four to six freestanding retailers, or several in-line stores. The shopping center will consist of approximately 70,000 square feet, with a merchandising mix expected to include a food store, convenience store/fuel station, bank and sit-down restaurants. Delivery of the project is expected in 2013. KLNB Retail principals Patrick A.M. Miller and Adam Miller are handling the project for the developer, Frankel Properties, a privately held real estate investment firm active in Harford County.

Skechers store to open at Mall in Columbia

Skechers, a national footwear retailer, has signed a lease with The Mall in Columbia and is expected to open in a 2,517-square-foot store in the mall’s Center Court in May. Skechers, based in Manhattan Beach, Calif., designs, develops and markets more than 3,000 styles of footwear, including oxfords, boots, sandals, sneakers, training shoes and semi-dressy shoes, according to Hoovers.

Ulman names new housing director

Howard County Executive Ken Ulman has named Thomas Carbo as the new director of the county’s Department of Housing and Community Development. Carbo will also serve as the executive director of the Howard County Housing Commission, the county’s public housing authority. Carbo previously served as deputy director under Stacy L. Spann, who resigned in December. Carbo is a former assistant attorney general who was assigned to the state’s Department of Housing and Community Development. He later served as a Howard County assistant solicitor, a post he held for 13 years. In that job he helped to create the Howard County Housing Commission. He has also worked as the county’s hearing examiner and labor coordinator.

20-building portfolio in Columbia sold

Cassidy Turley announced the sale of the Prologis (formerly AMB Property Corp.) office/flex portfolio in Columbia. The 588,009-square-foot portfolio consists of 20 buildings in three business parks (Columbia Gateway Business Park, Columbia Business Center and Oakland Ridge). Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Prologis. A New England-based institutional investor purchased the 93 percent leased portfolio. Neither the identity of the buyer nor the purchase price was disclosed.

Spy complex in Bethesda gets go-ahead

(AP) A federal planning agency has approved the design of a future spy complex in Montgomery County that has angered residents. The National Capital Planning Commission approved the design of the Intelligence Community Campus-Bethesda on Thursday, the Washington Post reported. The campus would be off MacArthur Boulevard, on a site that housed the National Geospatial-Intelligence Agency. The facility’s garage has been the most controversial part of the plan. The planning commission said the garage would be built without cutting down more than two-tenths of an acre of trees. U.S officials say they will study whether the concessions are possible.

McDaniel breaks ground for new stadium

(AP) Officials at McDaniel College held a groundbreaking ceremony Friday for a new multipurpose stadium. The stadium will be used for several sports, including football, women’s field hockey, men’s and women’s lacrosse and men’s and women’s track and field, and special events. The stadium will keep its hallmark bowl setting and drive-in tailgating tradition, but it will have more seating. The project includes a two-story brick and concrete stadium on the site of the current Bair Stadium grandstand with concessions, public restrooms, coaches’ rooms, observation boxes, a large press box and team meeting rooms.

Land patent process aids Boy Scouts

(AP) The Boy Scouts are trying to officially add 19 acres in northern Harford County to one of their campgrounds, but have to go about it in a really old-fashioned way. No owner is listed on the property at the Broad Creek Memorial Scout Reservation, a 1,700-acre campground that the Boy Scouts have operated for more than 60 years, the Baltimore Sun reported. Due to the lack of a named owner, the Boy Scouts are working to secure a land patent. The uncommon process dates from the Colonial Era, when residents bought property by securing a land patent from the state.

Build-A-Bear to open at Sinai Hospital

St. Louis-based Build-A-Bear Workshop Inc. said it will open a new store at Sinai Hospital in Baltimore on Feb. 27. Of the more than 400 Build-A-Bear operating locations around the world, this will be only the second such store located inside a hospital. The Sinai Hospital store will offer a selection of clothing and accessories themed specifically to the medical center, including patient gowns, wheelchairs, doctor and nurse scrubs and a Sinai Hospital T-shirt. The vast majority of Build-A-Bear Workshop stores are located within shopping malls, including six in Maryland.

Asian immigrants drawn to Frederick Co.

(AP) Officials say Frederick County is seeing an influx of Asian immigrants with a population that has grown to more than 10,000 people. Elizabeth Chung, executive director of the Asian American Center of Frederick, told WTOP Radio that there are significant populations of Indian, Korean and Chinese immigrants. A large influx of immigrants is from Myanmar, formerly known as Burma. Chung said the biggest draw for immigrants moving to Frederick County is cost of living. She said residents are moving to the county in a secondary migration from Montgomery, Prince George’s and Baltimore counties.

Downtown Holiday Inn changes hands

The Procaccianti Group, a Providence, R.I.-based, privately held, real estate investment and management company, announced that it has completed the acquisition of the Holiday Inn Baltimore Inner Harbor. The 365-room hotel at 301 W. Lombard St. is close to the Inner Harbor, the National Aquarium, downtown business district, Baltimore Convention Center, Oriole Park at Camden Yards and M&T Bank Stadium, the 1st Mariner Arena and the University of Maryland. The acquisition price was not disclosed. The Procaccianti Group owns 61 hotels with nearly 17,000 guest rooms in 23 states.

Senator Theatre to get state tax credit

(AP) The Senator Theatre’s owners will receive a $300,000 tax credit to rehabilitate the movie house. Gov. Martin O’Malley announced the Sustainable Communities Tax Credit for the theater on Tuesday. Owners James “Buzz” Cusack and his daughter, Kathleen Lyon, plan a restoration that will preserve the 73-year-old North Baltimore landmark and add three screens and a small restaurant. Cusack said the theater will close temporarily to complete renovations in time for the big holiday movies. He told the Baltimore Sun that his proposal was “significantly different” from an unsuccessful submission to the Maryland Historical Trust a year ago.

COPT posts lower results in 4th quarter

Corporate Office Properties Trust, of Columbia, posted fourth-quarter results reflecting what CEO Randall M. Griffin called an “ongoing difficult operating environment.” The real estate investment trust, whose office properties are occupied mainly by U.S. government and defense-related tenants, reported a fourth-quarter net loss attributable to common shareholders of $86.2 million, or $1.21 per share, compared to net income of $11.5 million, or 18 cents per share, for the year-ago period. Diluted adjusted funds from operations dropped to $24.8 million, or 56 cents per share, from $35 million, or 70 cents per share, in the corresponding 2010 quarter. Revenue slid to $139 million, from $144.2 million in 2010.

Clean water group rates counties’ plans

(AP) Six of Maryland’s 23 counties received a top rating from an environmental coalition for their Chesapeake Bay restoration plans. The Clean Maryland Waters coalition announced Thursday that Anne Arundel, Baltimore, Calvert, Caroline, Dorchester and Montgomery counties submitted the strongest plans. Nine counties got the lowest ranking. They are Allegany, Carroll, Cecil, Charles, Frederick, Garrett, Somerset, Washington and Worcester counties. The coalition said the drafts they submitted were skeletal and did not commit to clear implementation strategies. The counties submitted their plans to the state, which has submitted its plan to the U.S. Environmental Protection Agency

LEASES

Anderson, Coe & King LLP has leased 12,392 square feet on the 16th floor of the office building at 7 St. Paul St. in downtown Baltimore. The law firm moved from another floor in the same building. Managing Partner Gregory L. VanGeison said the firm decided to upgrade its space “because the building can accommodate our firm on one floor. The building also allows the firm to remain close to the courthouse, while securing more attractive economic terms than at any other Class A office building in the Central Business District.” Brian P. Wyatt, a vice president with Cassidy Turley, and David Downey of Cassidy Turley’s Law Firm Services Group represented Anderson, Coe & King in the lease deal.

Also announced by Cassidy Turley is its assignment, on behalf of The Velsor Cos., to lease two industrial buildings in Columbia. The buildings at 8909 McGaw Court and 6655 Dobbin Road total 220,222 square feet, 57 percent of which is available for lease. Jarred Testa, Tilghman Herring and Michael Walsh of Cassidy Turley’s Core Industrial Leasing Team in Baltimore are handling leasing for Velsor.

Fuji Trading (America) Inc. has leased 10,000 square feet of industrial space at 8515 Kelso Drive in Rosedale, it was announced by Cassidy Turley’s Baltimore office. The company is a branch of Fuji Trading Co. Ltd. Group, a world leader in marine supply and marine engineering. Jarred Testa, Michael Walsh and Tilghman Herring of Cassidy Turley’s Core Industrial Leasing Team represented Fuji Trading (America) Inc. Todd Evans and Peter Dudley of KLNB represented the landlord.

Jamie Campbell, Liz Tarran-Jones, Vince Bagli and Steve Shaw of Merritt Properties LLC represented the owner in lease negotiations with CCTF LLC and Fulton Communications of Washington, D.C. CCTF, a provider of travel health services, leased 2,200 square feet of office space at the Hammonds North complex, 815 Hammonds Ferry Road, Suite A (front) in Linthicum. Kate Jordan of NAI KLNB, represented the tenant. Also, Fulton Communications, a VOIP solutions company, leased 2,270 square feet of office space at Columbia Corporate Park, Stanford Blvd., Suite 4100, in Columbia.

Lafarge North America Inc., a manufacturer of building materials. leased 15,200 square feet of office space at Timonium Two, 1954 Greenspring Drive, Suites 250 & 480, in Timonium, it was announced by co-owners Merritt Properties LLC and Bavar Properties Group. Todd Hughes and Bob Anderson, both of Jones Lang LaSalle, represented Lafarge in lease negotiations. Merritt Properties and Bavar Properties Group were represented by Merritt’s in-house team of Pat Franklin, Whit Levering, Lou Boeri and Ashley Combs.

Global Search Associates LLC – Boyden, a full-service executive search firm, leased 2,594 square feet of office space at The Exchange, 1122 Kenilworth Drive, Suite 501, in Towson. Lizzy Sweeney of Cassidy Turley represented the tenant. The landlord, Merritt Properties LLC, was represented by its in-house team of Pat Franklin, Whit Levering, Lou Boeri and Ashley Combs.

PERSONNEL

James Andre Parker has been named resident services manager of MonteVerde, a 301-unit residence in Lower Park Heights, Baltimore, by AHC Greater Baltimore, a developer of affordable housing communities. Parker most recently had been resident services manager with the Community Preservation Development Corp., where he had worked since 2005. The Lincoln University graduate has more than 15 years of social services experience.

Melissa Gambuto has been named regional manager of Continental Realty Corp.’s residential division. She previously was general manager for Bozzuto Management, where she managed a number of properties in Harbor East. In her new position, Gambuto will assume the property management oversight of Parkwood Court, a 189-unit apartment community in Alexandria, Va., that was recently acquired by an affiliate of Continental Realty. She has a bachelor’s degree in business management from Towson University. She is a licensed Maryland Real Estate agent and was named property manager of the year in 2010 by Bozzuto Management.

David P. Recchia, vice president and partner at Rubeling & Associates, a Towson-based architecture and interior design firm, recently served as a judge for the 2012 National School Boards Association Architectural Jury. Recchia was one of only three judges who reviewed 45 school designs submitted from across the U.S. Six projects were chosen for awards — one grand prize winner and five citations — which will be announced at the National School Boards Convention in Boston in April.

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