March 2023

M id A tlantic Real Estate Journal —March 2023 — 11A

Stern, Barnes, Harris and Offutt lead leasing team in transaction Avison Young completes 140,000 s/f of leasing in 18 months at newly renovated Franklin Square


through Cushman & Wake- field , the architecture designed by Hickok Cole Architecture , and construction performed by Rand Construction . Originally designed by ar - chitect Philip B. Johnson , the building’s modernization embraced the sustainable prac - tice of adaptive re-use. The addition of a new three-story glass entrance fronting Frank - lin Square Park brought the building’s bronze-clad grates and medallions to the building’s concourse level, where they became the perfect accent for the building’s conference facil - ity and breakout rooms. Slab openings from the lobby to the concourse level create further synergies and connection points to the building amenity areas. The building is LEED Gold rated and offers some of the latest technologies to provide healthier, safer spaces, includ - ing advanced air filtration via the building’s VAV HVAC sys - tem and CleanAir Ion units in the passenger elevators. MAREJ ing. 521 Digiulian Boulevard is situated within close prox - imity to MD Routes 100 and 176, as well as Interstate 97 and is directly south of BWI Airport. The Port of Baltimore is approximately 11 miles from the site. “The new owner has ac - quired a well-maintained and strategically-located asset that is 100 percent occupied by two strong, creditworthy companies,” said Matthew Curran of MacKenzie Com - mercial Real Estate Services. “The crane-served building is perfectly-suited to support the operations of primary ten- ant Architectural Surfaces, which extended their lease long-term to remain in the building. Industrial assets containing between 20,000 and 100,000 s/f of warehouse/ industrial space in the BWI area remain in extremely high demand for both lease and purchase.” MAREJ

ASHINGTON, DC — Avison Young announced the clos -

ing of 140,000 s/f in lease trans - actions at 1300 Eye St. NW in Washington, DC over the last 18 months. The 485,000 s/f historic building, commonly referred to as Franklin Square, recently underwent a stunning renovation to transform it into an iconic trophy office building. Recognized as retrofit’s 2021 “Metamorphosis of the Year,” Franklin Square’s renova - tion was led by global invest - ment managers Nuveen Real Estate and Norges Bank Investment Management , co-owners of the building. Since the renovations de - livered in early 2021, Nuveen and leasing partner Avison Young have executed five new leases totalling 112,000 s/f, and two lease renewals totaling 28,000 s/f. New tenants include the Conference of State Bank Supervisors, the Bank Policy Institute, Greenpeace, TIAA- CREF, and DAV (Disabled LUTHERVILLE, MD — MacKenzie Commercial Real Estate Services has executed the sale of 521 Digi - ulian Blvd., a single-story building comprised of just over 28,000 s/f of industrial/ warehouse space for $4.22 million. Matthew Curran, SIOR , vice president as well as Daniel Hudak, SIOR and Andrew Meeder, SIOR , senior vice president and principal, for MacKenzie rep - resented the seller, 521 Digi - ulian Blvd. LLC. The buying entity, Graydan Properties, LLC, was self-represented. Situated in the Glen Bur - nie section of Anne Arundel County, Maryland, the build - ing is 75 percent leased by Architectural Surfaces, an Austin, Texas-based company that markets a range of na - ture stone, tile, porcelain and paver products that are used in both residential and com - mercial applications. The fa -

Franklin Square

The building’s transforma - tion was a collaborative effort between Nuveen, Norges Bank Investment Management and Avison Young, with project management by Hines Com- pany , property management

American Veterans), with lease renewals from the American Public Transportation Associa - tion and the American Water Works Association. The Avison Young leasing team, led by principals Will

Stern and Eli Barnes , senior VP Lauryn Harris and senior associate Alston Offutt , has represented Franklin Square for over 15 years. With the new leases, the building is now 95% leased.

Mackenzie Commercial Real Estate Services brokers sale of 28,163 s/f industrial/warehouse building in Glen Burnie

521 Digiulian Blvd

cility currently being utilized as a showroom, warehouse and sales office for the com - pany that maintains locations in 19 states. Houston-based

ONE McDonogh, a commer - cial contracting firm, leases the balance of the building. Built in 1982 and reno - vated in 2021, the building

is equipped with two dock- high loading doors and three drive-in grade-level doors and is situated on a 4.4-acre lot featuring free surface park -

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