24A — April 27 - May 10, 2018 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal
hiremanstown, PA — Gary Cohen , se- nior vice president/man- 254,449 s/f multi-tenant distribution warehouse located at 301 Railroad Ave. NorthMarq’s Cohen arranges acquisition financing of $8.6M for industrial property in Shiremanstown, PA S
John Deere. “The Borrower is a Connect- icut based Fundmanager who strictly focuses on acquiring and developing industrial real estate in New Jersey, Pennsylvania and Califor- nia,” said Cohen. “NorthMarq was able to help the borrower
secure acquisition financing with a regional bank at an attractive rate. The borrower will also have an opportunity to borrower additional funds to help pay for future capital expenditures, leasing com- missions and tenant improve- ments.” Marcus & Millichap in 2012 as an agent specializing in multifamily property invest- ments in Southern Virginia. In 2013, Drane earned the firm’s Pace Setter award and the Washington, D.C. office’s Rookie of the Year award. In 2015, he was promoted to senior associate. Prior to joining Marcus & Millichap, Drane contrib- uted to the growth of sev- eral organizations, including two Fortune 500 companies. He developed an impressive track record of closing multi- million-dollar transactions and managing client relation- ships throughout the United States, in the Middle East and in Europe. Drane graduated fromMiami University in Ohio with a Bachelor of Science degree in business marketing and earned an M.B.A. from the University of Nebraska- Lincoln. Along with the new class of officers, Robert Thorn- burgh, SIOR, CCIM, CPM , of Los Angeles, CA, will as- sume the role of SIOR Global president. Since earning his SIOR designation in 2005, Thornburgh has held a num- ber of leadership positions within the organization. Along with his current role as pres- ident-Elect, Thornburgh also serves as Membership Coali- tion Council Chair and previ- ously served as Chair of the Communications and Brand- ing Committee. Current SIOR Global Vice President Mark Duclos, SIOR , of Hartford, CT, will assume the role of President- Elect and serve a one-year term before becoming Global President. Patrick Sentner, SIOR , of Pittsburgh, PA, has been elected as vice president for 2019. the SIOR Fall World Confer- ence in Denver, CO.
aging direc- tor of North- Marq’s New Je r s ey r e - gional office, a r r a n g e d acquisition financing of $8.6 million for a 254,449
Marcus &Millichap promotes Drane to regional manager
Gary Cohen
BALTIMORE, MD —Green Valley Marketplace, a family- owned supermarket chain that has operated locally since 1915, has selected Padonia Village in the Timonium section of Balti- more County as the site of its third location in the Baltimore metropolitan region. The gro- cery store has signed a 31,256 s/f lease with Continental Realty Corporation , and expects to open in the former Mars Supermarkets space in late 2018 or early 2019. Ap- proximately 125 full and part- time employees are expected to work at the new supermarket that joins existing locations in Anne Arundel and Howard Counties. “We could not be more thrilled about signing a lease with Green Valley Market- place,” said David Donato , senior vice president of Con- tinental Realty Corporation. “Since Mars closed nearly two years ago, we have fielded numerous inquiries from the surrounding communities, hop- ing a new supermarket would replace them. Not only have we found a supermarket, but we attracted a locally-owned business with longstanding ties to the Baltimore commu- nity and a rich history. We are positive that the greater Timonium area will appreci- ate and embrace the local feel of the operation, and recognize the passion that Green Valley management invests into their business.” “We are confident that our community-first and consumer- first philosophy will resonate s/f multi-tenant distribu- tion warehouse located at 301 Railroad Ave. in Shire- manstown. The transaction was structured with a five year fixed rate term, with two years of interest only payments followed by a 30 year amortization schedule.
WASHINGTON, DC — Marcus & Millichap has announced that Matthew
Drane has been promot- ed to regional manager of t h e f i rm ’ s Washington, D.C. office. “Matt has excelled at r e c r u i t i n g
301 Railroad Ave.
NorthMarq arranged financ- ing for the borrower through its relationship with a re- gional bank. Major tenants at
the property include: Intelli- gent Global Pooling Systems, Paint Sundries Solutions, Performance Radiator and
Green Valley Marketplace selects Padonia Village as site for third grocery store location within Baltimore Metro Region
Matthew Drane
top-level talent for the office and making sure that incom- ing investment professionals excel here,” said Bryn Mer- rey , senior vice president and division manager. “As regional manager, he will continue to grow the office, expand our industry-leading investment services throughout the region and be a vital resource for agents and investors.” Drane has been serving as associate regional manager since July 2017. He joined WASHINGTON, DC — The Society of Industrial and Office Realtors (SIOR) , which represents the world’s elite in industrial and office brokerage, announced its 2019 officers. The elections were held during SIOR’s Spring World Conference currently taking place in Austin, TX. “Congratulations to each of the SIORs who have been elected as officers for the 2019 term,” said Del Markward, SIOR Global president. “In my term as president, I have been fortunate to spend time with many members and chapters across the country, and those interactions have reinforced that SIOR is truly made up of the most elite professionals in our industry. I have no doubt that this next group of officers will honor our reputation and serve proudly.” The elected officers will be installed in October prior to
Padonia Village
Society of Industrial and Office Realtors announces new board members
pumpkins, with a portion of the proceeds funneling directly to the community organization,” Rodgers said. “Another event might showcase our ‘Famous Pit Beef and BBQ Ribs” and we would have another local orga- nization work the stand side- by-side with us, and receive a portion of the proceeds. There is no set template for these events. Our goal is to organize an activity that best meets the needs of the local community. Positioned at 61 E. Padonia Rd. near York Rd., Padonia Village is a 113,519 s/f retail shopping center that includes CuVino restaurant, Rite-Aid and Bank of America. Just off Padonia Rd. and an exit of I-83, nearly 42,000 vehicles pass the site on a daily basis. 60,000 people reside within a three- mile radius of the site. Kristina O’Keefe , leasing manager for Continental Re- alty Corporation represented the landlord in this transaction and Mike Albo and Evan Al- bert from MFI Realty repre- sented the tenant. n
with the Baltimore County marketplace and that our gro- cery concept will offer a person- al experience that does not cur- rently exist in the market,” said Rick Rodgers, COO of Green Valley Marketplace. “This atti- tude starts with our belief that Green Valley is our customers’ store and our associates’ goal is to deliver on that promise. We know of no other supermarket that steams live crabs to-order. The majority of our salads and meal offerings are created from scratch. We pride ourselves on unparalleled customer service and offering one-of-a-kind food products with an emphasis on locally-grown or raised items.” Throughout the year, the su- permarket sponsors communi- ty-centric special events in the parking lot, such as Farmer’s Markets, Bake Sales or other activities that directly benefit a designated organization, school or community group. “For instance, in the fall, we may organize a Pumpkin Patch event that sells store-made candy, caramel apples and
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