16A — August 20 - September 16, 2021 — DelMarVa — M id A tlantic Real Estate Journal


D el M ar V a Sanker, CCIM, SIOR&Rapoport work in conjunctionwith Ten-X S.L. Nusbaum Realty Co. reveals saleofmulti-officebldg.

8 mos. after acquisition of 2 buildings i nvestment group signs 21 office leases

IRGINIA BEACH, VA — S.L. Nusbaum Realty Co. announced the sale of Buildings Four, Five and Six within the Pembroke Office Park in Virginia Beach, VA for $15,771,250. The build- ings total 167,660 s/f of Class B office space. Stephanie Sanker, CCIM, SIOR and Sam Rapoport of S.L. Nusbaum Realty Co. worked in conjunction with Ten-X in providing represen- tation for the seller, Suburban Capital. Pembroke Office Park is a 300,000 s/f office park com- prised of five multi-tenant office buildings, within close proximity to Pembroke Mall and numerous retail, dining, hospitality and entertainment options in the Town Center of V

225 E. Redwood St. a& 233 E. Redwood St. in Downtown Baltimore City

of both buildings will be leased to restaurant and retail users. The recent leasing activ- ity has attracted a range of commercial office users to the buildings including a short- term lease was also signed with FX Studios for use in filming the pilot for a new television series “The Spook Who Sat By The Door,” which utilized space in both buildings. Final renewal negotiations are underway with Clark- Morley Salon as well as for a new operator within the vener- able Werner’s Restaurant in Vickers Exchange. “The flurry of leases over the past several months places us ahead of our pro forma schedule, and stems from the availability of reimagined com- mercial office and retail space in the central business core of Baltimore City. We have been successful in creating a vibrant and energetic work atmosphere at Vickers Exchange and Red- wood Exchange and companies engaged in a range of profes- sional services have embraced the location, nearby amenities and overall ambiance,” said Brad Byrnes, president of By- rnes & Associates. MAREJ property management. Asner recently graduated from the University of North Carolina at Chapel Hill after earning a Bachelor of Science degree in Economics. Asner is pursuing his Mas- ters of Business Administra- tion degree as part of the Johns Hopkins Carey Business School. “We identified Jonas as a highly-poised and well-round- ed young professional with a strong background in the finance and capital markets industry, and believe he is ide- ally suited for our Partner-in- Training Program,” said Law- rence Maykrantz , president of St. John Properties. MAREJ

BALTIMORE, MD — Eight months after its acquisition of 225 E. Redwood St. and 233 E. Redwood St. in Downtown Bal- timore City, a local investment group has signed 21 new offices leases at the two buildings, initiated a comprehensive $5 million redevelopment strategy and rebranded the assets to Vickers Exchange and Red- wood Exchange respectively. Members of the two limited li- ability entities associated with the purchase include Kemp Byrnes and Brad Byrnes of Byrnes & Associates, Inc. , a Baltimore-based boutique com- mercial real estate and invest- ment company, as well as Dave Gupta , a local entrepreneur. 225 E. Redwood St., a four- story building formerly known as the Vickers Building is now 80% leased with this new activ- ity. Together with 233 E. Red- wood St., an adjacent 13-story building formerly known as the Garrett building, the two projects combine for 90,000 s/f of office and retail space. The renovation and repositioning program consist of transform- ing the upper floors of Redwood Exchange into multi-tenant office space. The ground floors

Pembroke Office Park

Virginia Beach, a 25-acre life- style center. S.L. NusbaumRealty Co. has been retained by the new owner to provide leasing and manage- ment services for the property. With over 115 years of exper- tise in the real estate industry, meetings. As a part of her community outreach duties, she will manage MMHA’s social channels and plan the association’s annual philan- thropic events. Other tasks include planning Regional Property Manager Round- tables, meeting with com- munity organizations to raise awareness about MMHA, and participating in coalition groups such as Maryland Af- fordable Housing Coalition’s property management com- mittee and the Baltimore Metropolitan Council’s hous- ing committee. Prior to joining the MMHA, Osakwe worked as a legis- lative assistant at Becker and Poliakoff P.A., located in Tallahassee, FL, where she conducted research on a development,” said Arnie Capute , associate vice presi- dent, eastern region acquisi- tions. “It is another example of our strategy to acquire functional infill warehouses in the top markets across the country.” District Business Center’s location in the city positions it to capitalize on demand from tenants which deliver to DC’s dense and affluent population in short delivery timeframes. It is only four miles from downtown Wash- ington, DC, five miles from the National Mall, six miles from Bethesda, MD and 10

S.L. Nusbaum Realty Co. man- ages, develops and provides sales and leasing services for shopping centers, apartment communities, office, indus- trial and investment properties throughout the Mid-Atlantic and Southeast. MAREJ variety of legislative issues pertaining to education policy and coordinated legislative meetings on behalf of several government consultants. She then moved on to work at the Florida Homebuilders Asso- ciation, also in Tallahassee, where she was responsible for overseeing relevant bills and providing timely updates for more than 8,000 members. Osakwe graduated from Florida State University with a bachelor’s degree in Politi- cal Science; Environment and Society and a master’s degree in Applied American Politics and Policy. She worked as a research assistant during her time there, conducting research on 300 charter schools and com- piling findings for the depart - ment of political science. MAREJ miles from Arlington, VA. “This final mile invest- ment is a great addition to our value creation strategy within RLIF,” said Steve Panos , senior vice president, fund and asset management. “We’re acquiring an asset that provides an excellent level of high flow-through functionality, the option for repositioning in the long term, a very compelling basis and favorable zoning.” Robert Bechtel and Dan- iel Gaffey of Institutional Property Advisors repre- sented the seller and facili- tated the transaction. MAREJ

MMHAwelcomes Osakwe as government and community affairs manager

OWINGS MILLS, MD — TheMarylandMulti-Hous- ing Association (MMHA)

announced the h i r i ng of Chinelo Osakwe as government and commu- nity affairs m a n a g e r . With an ex- tensive back-

Chinelo Osakwe

WASHINGTON, DC — Realterm Logistics an- nounced the acquisition of District Business Center, a two building, 63,523 s/f final-mile industrial complex. Located at 5925 Blair Rd., NW and 6025 Kansas Ave., NW in Washington, DC, the fully leased buildings sit on 3.07 acres. “District Business Center offered the rare opportu- nity to acquire an extremely well-located final-mile ware - house within the city limits of Washington, DC, a market with strong demographics and high barriers to new In her role as government and community affairs man- ager, Osakwe will track and communicate local legislation and monitor county council ground working in legisla- tion and advocacy, Osakwe’s knowledge and experience will reinforce the associa- tion’s government and com- munity outreach efforts.

St. John Properties recruits Asner to 4-Yr. Corp. Partner-In-Training Program

BALTIMORE, MD — St. John Properties, Inc. has selected Jonas Asner as the

Realterm Logistics acquires Final Mile industrial complex

l at es t par - t i c i pant i n its Partner- in-Training P r o g r a m . The ini t ia- t ive, whi ch prepares pro- fessionals to open a new

Jonas Asner

regional office in an area of the country deemed a growth market, demonstrates six dif- ferent commercial real estate disciplines over a four-year period including development, construction, marketing, leas- ing, tenant improvements and

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