Real Estate Weekly – 6/1/12: 8 stores opening at Waugh Chapel

8 stores opening at Waugh Chapel

Eight stores — including Dick’s Sporting Goods and PETCO pet supplies store — have opened or plan to open this month at Waugh Chapel Towne Centre, the new 1.2 million-square-foot, open-air development in Gambrills managed by Greenberg Gibbons, of Owings Mills. A Target department store opened at the shopping center in March, and a Wegmans supermarket is scheduled for a fall opening.

Howard to buy Belmont estate

Howard County will purchase the historic Belmont property from Howard Community College, County Executive Ken Ulman announced. As part of the deal when the college bought Belmont in 2004 for $5.2 million and the county provided $2.6 million, the county was able to acquire Belmont’s 80-acre property for $89,000. Belmont was built in 1738 by industrialist Caleb Dorsey and is listed on the National Historic Register. The estate, surrounded by Patapsco State Park, consists of a manor home, a carriage house, a cottage, a large barn, tennis courts and a pool. The county envisions the manor house as a location to be rented out for special events, and parts of the property to be opened up for community meetings and gatherings. “This has been a long process, but in the end, I simply could not allow Belmont, with all its historical, environmental and educational significance, to slip out of the public’s hands,” said County Executive Ken Ulman.

CBRE helps sale of Hanover building

CBRE announced that it has arranged the sale of a fully-leased, multi-tenanted industrial building in Hanover. An affiliate of Industrial Income Trust Inc. purchased the building at 7463 New Ridge Road for $11.65 million from an affiliate of Bavar Properties Group LLC. Located immediately east of the Baltimore-Washington Parkway interchange with Route 100 and originally built in 1981 and expanded in 1996, the building features 32- to 40-foot clear ceiling heights within 198,369 square feet. CBRE’s integrated marketing of the property in the Baltimore Commons Business Park generated a total of 17 offers preceding the sale. CBRE Senior Vice President Bo Cashman was joined by Jonathan Beard and John Boote in representing the seller.

5 new retailers at North Bethesda Market

Two new dining choices in addition to a CVS, Starbucks and a dry cleaner will open this year at The JBG Companies’ North Bethesda Market. Paladar Latin Kitchen & Rum Bar and Jimmy John’s Gourmet Sandwiches will join Seasons 52 and BRIO Tuscan Grille at the mixed-use community in White Flint, according to representatives of JBG and JBG Rosenfeld, which is leasing the retail space. “We continue to get strong interest from retailers and restaurants at North Bethesda Market,” said Kai Reynolds of The JBG Companies. “These new arrivals will complement the attractive choices already here and add luster to White Flint as a hot destination in the Washington area.” In April, The JBG Companies announced the approval of the next phase of North Bethesda Market – a 24-story residential tower with 340 apartment residences, 150,000 square feet of office and 130,000 square feet of shopping, entertainment and dining choices.