NAIOP Maryland honored 16 companies and seven individuals Thursday night before a crowd of more than 300 real estate and development types during its Awards of Excellence program at the Hyatt Regency Baltimore.
Local developer Mark Sapperstein won “most creative transaction” honors for the new McHenry Row development in Locust Point, which stalled because of the recession and was brought back to life through creative public and private financing.
The retiring CEO of Corporate Office Properties Trust, Randall M. Griffin, was given a lifetime achievement award. The late Fred Glassberg, founder of Crystal Hill Investments, was posthumously honored with the Distinguished Merit Award.
For those keeping score, St. John Properties, Inc. took home the most awards of the night with six, followed by Corporate Office Properties Trust, with five.
“The NAIOP Awards of Excellence Program is a biannual celebration and recognition of the innovative achievements of regional commercial real estate developers, as well as the companies and individuals that service our industry in the Maryland region,” said Dianna Wilhelm, president of NAIOP Maryland.
“Each winner represents a compelling example of how a unique challenge was overcome to realize a result that was economically, environmentally and aesthetically feasible. In recent years, a higher percentage of our award categories have honored projects that satisfy Leadership in Energy and Environmental Design standards, to reflect the significant shift in our industry to develop environmentally friendly projects,” she added.
Other winners include:
-Best Adaptive Reuse – Retail; Maryland Executive Park, St. John Properties, Inc.
-Best Adaptive Reuse – Office; Windsor Station, Preston Scheffenacker Properties
-Community Impact Award; The Mary Catherine Bunting Center at Mercy, The Whiting-Turner Contracting Co.
-Historical Renovation; Dome Restoration, Coakley & Williams Construction Inc.
-Best Industrial Rehab – Exterior; Under Armour Innovation Lab, Gensler
-Best Mid-Rise Office; Water’s Edge Building IV, Manekin LLC
-Best Mixed-Use Urban; McHenry Row, Mark Sapperstein
-Best Retail Rehab; Power Plant Live!, The Cordish Cos.
-Best Retail; McHenry Row, Mark Sapperstein
-Best Social Impact; 9/11 Memorial of Maryland, Rand Griffin, Corporate Office Properties Trust.
Hold May 6 on the calendar for the opening of a new waterfront park downtown.
After months of construction on the one-acre site at Pier 5, Pierce’s Park will finally be ready for action for kids of all ages. The new park, located on a sliver of land between the Columbus Center and Eastern Avenue on the edge of Little Italy, is a wonderland of creative play: sculpture by local artist David Hess. Unique plants and shade trees will greet visitors.
Gov. Martin O’Malley and Mayor Stephanie Rawlings-Blake are expected to cut the ribbon at 2 p.m. and then, let the games begin with hours of celebratory live music and entertainment.
The park is dedicated to the memory of Pierce J. Flanagan III, a contractor, philanthropist and civic leader who died while on a business trip in 2008.
This week, CBRE announced it had inked a lease with United Healthcare Services for 43,727 square feet of Class A office space at Lyndwood Executive Center in Howard County.
The company is a division of UnitedHealth Group, the third largest health carrier in the U.S. The energy-efficient, U.S.G.B.C. LEED Silver-certified property located at 6085 and 6095 Marshalee Drive in Elkridge is owned by Multi-Employer Property Trust.
“United Healthcare has been a tenant at Lyndwood Executive Center since the building was completed in 2002,” said Kim Penny, first vice president at CBRE.
The center is located off of Route 100 near the Timbers of Troy golf course. The complex’s two buildings total 164,000 square feet. Other tenants include GP Strategies Corp., ANCILE Solutions, Houghton, Mifflin Harcourt Publishing and Chrysler Group LLC.
CBRE’s executives Penny, Abby Glassberg and Laura Westervelt represented Newtower Trust Co. in the transaction.
The Baltimore Board of Estimates this week approved a new long-term lease for the Clifton Mansion on St. Lo Drive in northeast Baltimore to Civic Works, Inc.
The 55-year lease, with a 20-year renewal option, will likely outlive all members of the board. The rent was set at $1 per year.
The mansion is a former residence of Johns Hopkins. Civic Works is a nonprofit tenant that works with city youth developing work skills and community service. Recently, a working garden was planted there, with the produce to be sold to restaurants and individuals in the city.
Civic Works has proposed to make $4 million in repairs to the mansion, financed through New Markets Tax Credits and historic tax credit financing as part of the new lease. The renovations will lead the way for public tours of the mansion as well as rental for meeting space and exhibits.
An optimistic sign? Figures released this week by RE/MAX as part of a national housing report show that for the second month in a row, home prices have risen higher than they were listed one year ago.
The report said that median prices in March were 5.8 percent higher than March 2011 in the 53 metro areas surveyed for the RE/MAX report. February marked the first time in 18 months that prices rose higher than the previous year. Overall, year-to-year price increases haven’t occurred in two consecutive months since August 2010, the report said.
In addition, home sales in March were 25.4 percent higher than February.
St. John Properties Inc. recently signed leases totaling nearly 14,000 square feet of research and development and office space in The Center at Monocacy in Frederick.
The 423,000-square foot business community at the intersection of Interstate 270 and Route 85 holds nine office buildings with additional developable land nearby, company officials said.
The new tenants are CBIZ, a professional services company providing a comprehensive range of accounting, employee benefits, retirement plan and property and casualty products and services; Apex Diagnostic Services, a clinical laboratory and HomePro Restoration, a disaster cleanup service business focusing on fire, water and mold damage.
St. John’s Danny Severn brokered the deals.
Trout Daniel & Associates recently leased an 11,000-square-foot service center and a 9,000-square-foot showroom in White Marsh to Metro Bobcat.
The company will be the region’s largest Bobcat dealer and is expected to open April 23, bringing six new jobs to the area.
The move consolidates Metro Bobcat’s White Marsh and Joppa locations and will bring renovations to the building that include the new showroom and service center at 11000 Pulaski Highway in White Marsh.
The Baltimore Development Corp. is holding an hour and a half real estate forum April 27 beginning at 8 a.m. at 100 Light St. on the 17th floor.
The event will allow real estate experts in the area to discuss new business and investment ideas for downtown. The BDC executives who are hosting will be joined by experts from City Hall and the Downtown Partnership of Baltimore.
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