Real Estate Journal — DelMarVa — July 13 - 26, 2018 — 15A
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A S H I NGTON , DC — Cushman & Wakefield has Cushman &Wakefield secures $95M in financing for 1050 17th St. on behalf of The Lenkin Co. Cushman & Wakefield completes lease at Franklin Square Professional Center W
very foundation of America’s freedom,” Maranto said. “It is solely through your dedica- tion and sacrifice that every American can celebrate inde- pendence.” Franklin Square Profes- sional Center is conveniently located within minutes of MedStar Franklin Square Medical Center with easy access to I-695 and I-95. Cur- rently there is approximately 26,000 s/f available for lease. Lizzy Sweeney , director of Cushman & Wakefield’s Bal- timore suburban office team represented Cignal Corp in the transaction.
secured a construction loan for 1050 17th St. on behalf of The Lenkin Company. The loan will be used to construct a new building, with renovations slated to begin later this year. Philip Mudd and Brad Geiger , executive managing director and senior vice presi- dent at Cushman&Wakefield, respectively, represented the borrower in securing the loan from Eagle Bank . The team negotiated an agreement that will provide construction fi- nancing for the centrally lo- cated building. “There were several lenders interested in financing this project,” said Mudd. “This was due to the quality, design, ownership and extraordinary location.” 1050 17th St. is a 145,000 s/f office building in the Central Business District of Washing- ton, DC. The existing build- ing, which was constructed by Melvin Lenkin in the mid- 1970s, will be demolished and a new, 154,000 s/f speculative office building will be con- structed. The new property will also include ground-floor retail and below-grade park- ing. It will feature trophy quality suites and best-in- class amenities while retain- ing its proximity to public transportation. In a separate transaction, Cushman & Wakefield an- nounces that the Veterans Affairs (VA) Maryland Health Care System has selected a new location at Franklin Square Professional Center to replace the former Fort Howard VA Outpatient Clin- ic. The U.S Department of Veterans Affairs (USDVA), a government organization that provides benefits and services to America’s veterans, leased the 15,000 s/f with plans to open The Eastern Baltimore County VA Outpatient Clinic by Fall 2018. “We look forward to a long- term relationship with the VA and promise to work in everyone’s best interest so health care professionals can effectively attend to our Veterans’ needs,” said Joe Maranto , vice president of Cignal Corp. “We would like to articu- late our sincerest praise and gratitude to all Veterans whose selfless service is the
Franklin Square Professional Center
We’ve Got the Perfect Location for You.
2711 & 2751 Centerville Road, Wilmington +/- 3,485 to +/- 35,332 RSF avail. in two 100,000 SF four-story renovated buildings with new
skyline. Close to I-95.Contact: Neil Kilian, CCIM, SIOR, neilkilian@emoryhill.com
Flex Space For Sale: 20 E. Commons Blvd. New Castle kitchen, conference room, reception area, IT room in corporate campus setting. Contact: Dave Morrison, CCIM, davemorrison@emoryhill.com
New Castle
Castle County Airport in corporate campus setting; On-site management, ample parking. Contact: Neil Kilian, CCIM, SIOR, neilkilian@emoryhill.com
Commercial Flex Space for Lease: 20 Corporate Commons New Castle ea in corporate campus setting w/ drive-thru capability, ample parking; Mins. from I-95 and New Castle County Airport. Contact: Neil Kilian, CCIM, SIOR, neilkilian@emoryhill.com
Two Pad Sites Ready for Development: Springside Plaza Biddle Avenue, Glasgow
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New Castle
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Commercial Brokerage, Construction, Property Management, Maintenance & Residential Sales
10 Corporate Circle, Suite 100, New Castle, DE 302.322.9500 20245 Bay Vista Rd., Rehoboth Beach, DE 302.827.4940 www.emoryhill.com
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