Real Estate Journal — April 15 - 28, 2016 — 21A
www.marejournal.com
M id A tlantic
JCR acquires shopping center for $22.6 million
Vision Properties purchases 662,708 s/f office bldg. HFF inks $187m sale of 100 East Pratt St. in Baltimore B
ALTIMORE, MD — Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the sale of 100 East Pratt St., a 662,708 s/f, trophy office tower overlooking Baltimore’s Inner Harbor. HFF represented the seller, Columbia Property Trust, in the transaction. Vision Prop- erties purchased the iconic asset for $187 million. 100 East Pratt St. is the long-time headquarters of global investment manage- ment firm T. Rowe Price, which leases 65% of the 98.5%-leased building. Ad- ditional key tenants include PriceWaterHouseCoopers, Merrill Lynch and Tydings & Rosenberg. Located at the intersection of Pratt and Light Streets, 100 East Pratt St. sits at downtown Baltimore’s “main and main” location close to the amenities of Har- borplace and The Gallery in addition to the multitude of other dining and retail options in and around the Inner Har- bor and along Pratt Street. The sale also included the property’s 932-space parking OWINGS MILLS, MD — Greenberg Gibbons and Vanguard announced that 11 new restaurants, stores and services will be joining Foundry Row, the $140 mil- lion, 50-acre development on Reisterstown Rd. in Owings Mills, when the project opens this fall. The new tenants that signed leases at Foundry Row are: Signature restaurant Bar Louie – a unique concept that blends the style and sophis- tication of an upscale lounge or club with the comfort and accessibility of a neighborhood pub (6,096 s/f) Mission BBQ – a fast ca- sual eatery serving an ever- evolving menu of brisket, pulled pork, chicken and ribs (4,150 s/f) La-Z-Boy – selling stylish and comfortable home furni-
Signal Hill Shopping Center
MANASSAS, VA — The JCR Companies of Washing- ton, DC has acquired Signal Hill Shopping Center inManas- sas, VA for $22.6 million in an off-market transaction. Re- gency Centers was the seller; Sandy Spring Bank provided acquisition financing. This 105,781 s/f grocery-an- chored shopping center enjoys a highly visible location along Liberia Ave. retail corridor, sharing the Signal Hill Rd. in- tersection with a high-volume Walmart Supercenter. Signal Hill’s tenants includes Shop- pers Food Warehouse, Game- Stop, Glory Days Grill, Panera WASHINGTON, DC — The U.S. Department of Housing and Urban Development (HUD) announced a settle- ment agreement with Balti- more County, MD to expand affordable housing in higher opportunity areas throughout the County. The settlement will promote housing mobility and assist the County and its surrounding areas in develop- ing comprehensive affordable housing planning and strate- gies that address residential segregation. The groundbreaking agree- ment commits $30 million over 10 years to develop at least 1,000 affordable housing units for low- and very low- income residents. In addition, the County will provide 2,000 Housing Choice Vouchers through a housing mobility program to assist families to gain access to higher opportu- nity neighborhoods. At least
Bread, and Chick-Fil-A. JCR has sold the Chick-Fil-A pad to an undisclosed buyer for $2.25 million in an off-market transaction. “We are thrilled to add anoth- er grocery-anchored shopping center to our portfolio and we are very bullish on the long- term strength of the Liberia Av- enue corridor,” said Joe Reger , principal, The JCR Companies. “We are aggressively seeking additional urban and suburban retail acquisitions in the Wash- ington, DC metropolitan area.” Signal Hill is JCR’s seventh shopping center acquisition since 2012. n one-third of the affordable units created under the agree- ment will be accessible and made available to people with disabilities. The agreement also calls for the introduction of a county ordinance that would support source of in- come legislation. The agreement is the re- sult of a complaint filed with HUD in 2011 by the Balti- more County Branch of the NAACP, Baltimore Neighbor- hoods, Inc., claiming that the County: 1) had not developed affordable housing in areas other than those that were concentrated by race and poverty; 2) focused only on providing rental housing for seniors rather than families; 3) adequate numbers of acces- sible units were unavailable to people with disabilities; and 4) its actions had failed to affirmatively further fair housing. n
100 East Pratt St.
garage. The HFF investment sales team representing the seller was
led by Stephen Conley , Jim Meisel , Dek Potts , Andrew Weir and Matt Nicholson . n
HUD announces settlement to expand affordable housing in Baltimore County
Greenberg Gibbons announces 11 tenants at Foundry Row in Owings Mill, MD
ture and accessories, includ- ing sofas, couches, reclin- ers, chairs, tables and more (12,860 s/f) Foundry Row Wine & Spir- its – offering a wide selection of wine, liquor and craft beer; owned and operated by Tow- son-based Bagby Restaurant Group (5,640 s/f) Xfinity – offering TV, Internet, voice and home technology inno- vations in a completely interac- tive environment (4,160 s/f) Massage Envy – a pioneer and national leader of afford- able massage and spa services (3,205 s/f) Sleep Number – a leader in sleep innovation and biometric sleep monitoring and adjust- ability, offering specialty mat- tresses, bedroom furniture, and bed accessories (2,860 s/f) Mani Luxe – a salon special- izing in manicures, pedicures,
waxing and other customized treatments (2,700 s/f) Chipotle – serving a focused menu of burritos, tacos, burri- to bowls and salads (2,457 s/f) Hair Cuttery – a value- oriented, full-service salon (1,600 s/f) Floyd’s 99 Barbershop – a unisex barbershop (1,548 s/f) “Foundry Row is 88% leased and bringing great new ame- nities to Owings Mills,” said Brian Gibbons , chairman and CEO of Greenberg Gib- bons, “It’s an exciting time as we run full steam ahead towards our opening this fall.” At Foundry Row, these new tenants will join tenanta in- cluding a 130,000 s/f We- gmans, LA Fitness, DSW, Ulta Beauty, Bagby Pizza, Panera Bread, Zoe’s Kitchen, Smashburger, Nally Fresh and LifeBridge Health. n
Made with FlippingBook HTML5