M id A tlantic Real Estate Journal — July 23 - August 19, 2021 — 13A
www.marej.com
NAI Michael’s Schwarz and Burleigh led the acquisition/sale process Marcus Partners adds first Washington DC metro industrial portfolio totaling 121,207 s/f
ELTSVILLE, MD — Marcus Partners , a real estate invest- ment, man- agement and development f i r m , a n - nounced the acqui s i t i on of Muirkirk B u s i n e s s C e n t e r , a two-building, small-bay in- dustrial port- folio totaling 121,207 s / f i n B e l t s - v i l l e . T h e transaction r ep r e s en t s the firm’s fif - teenth indus- trial acquisition and its first WASHINGTON, DC — BKV Group, a multidisci- plinary design firm announced the completion of Beckert’s Park, a 2.75-acre mixed-use project bringing 325 luxury apartments and a new 60,000 s/f Safeway grocery store to a prominent corner in the Capitol Hill neighborhood of Washing- ton, DC. Located at the corner of 14th St. and D St. SE, the development replaces a parking lot and existing Safeway store that stood on the site for nearly 50 years. BKV Group worked with developer Foulger-Pratt to create a design that adhered to the aesthetic imperatives of the historic neighborhood while addressing the needs of the community, where few class A apartments have been developed in recent years. The resulting building is a single structure designed to look like a collection of buildings that in- cludes not only the residential units and upgraded Safeway, but also 8,000 s/f of commercial space for smaller local busi- nesses. “The redevelopment of this prominent corner in the Capi- tol Hill neighborhood was an B Lance Schwarz Peter Burleigh
street level. The facade of Beckert’s Park incorporates different typolo- gies to create the impression of a smaller overall scale, using a mix of materials including traditional red brick, black corrugated metal panels with charcoal brick and white fiber cement siding. This integra- tion of traditional with modern achieved an aesthetic balance that appealed to the commu- nity. “The goal for this project in- volved designing a mixed-use building on a highly visible infill site surrounded by low- density residential,” said Brigg Bunker, managing partner and co-COO of Foulger-Pratt. “BKV’s multidisciplinary ap- proach and creative design solutions contributed to a pro- ductive community approval process, which laid the founda- tion for our timely delivery of this project despite the many challenges posed by the pan- demic.” Residences at Beckert’s Park include studio, one-, two- and three-bedroom units ranging from 495 to 1,706 s/f, some with private outdoor space. A courtyard accessed from D Muirkirk Business Center is a great addition to the growing portfolio,” said Andrew Do- linsky , a principal of Marcus Partners and its Washington DC regional director. “This acquisition is an exciting mile- stone for our team given our conviction in the strength of the industrial sector and within the Washington DC Metro area as a whole.” Well-located at 6850 Distri- bution Dr. and 12201 Distri- bution Way in the Beltsville, Maryland submarket, the portfolio maintains strong ac- cess to major population and employment centers includ- ing Washington, DC, Balti- more, Northern Virginia, and Montgomery County. Major transportation thoroughfares including I-95, I-495, Rte. 1,
and the Intercounty Connector are all within minutes of the buildings. Muirkirk Business Center is currently 96.5% leased to 12 tenants who have a weighted average tenure of nearly 20 years. The combined buildings sit on 6.6 acres of Industrial Heavy zoned land and offer tenants a 165’ shared truck court, 21’ to 23’ clear heights, one loading dock per every 5,500 s/f, one drive-in per every 6,400 s/f, and outside storage. NAI Michael ’ s Lance Schwarz and Peter Bur- leigh led the acquisition/sale process and will continue leas- ing efforts at the properties going forward. Colliers Inter- national’s Erik Binkowski and David Kaizer led the financing process. MAREJ Street serves as the residential entrance to the building and features an outdoor pool, seat- ing, cabanas, dining areas and grilling stations – all slightly elevated from street level to provide separation from the public and height for the under- ground parking. Indoor ameni- ties surround the courtyard and include an expansive lobby with lounge seating and coworking space; clubroom with catering kitchen; game room; fitness center; golf simulator; and pet- washing station. “The completed Beckert’s Park fulfills our vision of cre - ating an architecturally inte- grated development that brings upscale rental housing to the neighborhood while provid- ing a new home for Safeway, which has been a retail corner- stone for decades,” said Bryan Foulger, who also serves as managing partner and co-COO of Foulger-Pratt. “BKV Group’s design merges the historical character of Capitol Hill with the modern amenities today’s renters seek, establishing a new neighborhood anchor that will serve both residents and neighbors in the surrounding community.” MAREJ
Muirkirk Business Center
industrial acquisition in the Washington-Baltimore mar- ket. Similar to its industrial strategy in the Boston Metro area, the team anticipates creating a portfolio of class A and B, strategically located
industrial assets in the region. “After successfully raising a $360,000,000 equity fund earli- er this year primarily targeting both existing and development investments within industrial, multi-family, and life science,
BKV Group opens Beckert’s Park, mixed-use project brings 325 apartments, new Safeway grocery store Washington, DC
Though it is a single building, Beckert’s Park was designed by BKV Group to look like multiple structures to match the aesthetic and scale of the historic Washington, D.C., neighborhood.
limit on building height and excluded ground-level residen- tial. The firm also designed around the requirements of the grocery store, which included the need for ample parking, loading areas, high ceilings and appropriate space for and ac- cess to back-of-store operations. The solution included a single- story podium that houses the retail and amenity spaces, with three stories of apartments and a setback penthouse level above. Parking for residents and Safeway customers is lo- cated underground, enhancing the pedestrian experience at
incredible opportunity for both Foulger-Pratt and the com- munity, but it needed to be handled with sensitivity to the surrounding architecture,” said Jack Boarman , founder and CEO of BKV Group. “Our solu- tion truly transformed the site from one that detracted from the urban landscape to one that not only integrates seamlessly with the neighborhood, but also adds a robust mix of residential and retail that will serve the community for years to come.” BKV Group worked within the parameters of the local zon- ing, which called for a 50-foot
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