22A — April 15 - 28, 2016 — DelMarVa — M id A tlantic
Real Estate Journal
D el M ar V a 200,000 s/f Patuxent Commerce Center in Jessup, MD Cushman & Wakefield inks $17.6m sale of ind. complex
CenterPoint Properties acquires 130,860 s/f facility
FULTON, MD — Horton- works and DataTribe have signed separate leases with St. John Properties, Inc. for nearly 12,000 s/f of space within 8115Maple Lawn Blvd., a four-story, 123,000 s/f class “A” office building located within Maple Lawn, a 600-acre mixed-use business community in Howard County, MD. The building is now 75% leased. Matt Lenihan , leasing repre- sentative for St. John Proper- ties, represented the landlord in both transactions. Hortonworks, a San Francis- co-based company that creates, distributes and supports data platforms and modern data applications, leased 6,842 s/f of space in the building and expects to employ approxi- mately 40 workers. DataTribe is a technology incubator that assists startups with the initial formation and build-out of com- panies involved with big data, cyber-security and data analyt- ics. The company leased 5,000 s/f of space at 8115Maple Lawn Blvd. and expects to bring ten employees to the building. “Our primary target audi- ence is comprised of senior engineers emerging from po- sitions within the Five Eyes Nations governments seeking to create a new company in the data or cyber-security arena,” said Mike Janke, co-founder of DataTribe and also chairman of Silent Circle. “Silicon Valley was previously the location of choice for these entrepreneurs, ESSUP, MD — Cush- man & Wakefield , a global leader in commer- cial real estate services, an- nounced that it has arranged the sale of Patuxent Com- merce Center, a two-building, 200,000 s/f industrial complex located in Jessup, MD. The Center is 100% leased to six tenants. Colony Financial purchased Patuxent Com- merce Center from Deutsche Asset & Wealth Management in February 2016 for $17.625 million. Deutsche Asset & Wealth Management was represented by the Cushman & Wakefield Baltimore Capital Markets team of Jonathan Carpen- ter , Nicole Keelty , and Gra- ham Savage . “The sale process for Patux- ent Commerce Center was J
3516 S. Military Highway
architectural services during the design phase of the renova- tion and BradGillis, CCIM of SVN, for his commercial real estate expertise in leasing the building space. “We also couldn’t have done this without the support from the City of Salisbury,” added Miller. “We appreciate how open and helpful the city ad- ministration has been with the revitalization of “what was once an eye sore” thereby al- lowing us to develop a welcom- ing facility for those coming into our city.” Gi l l i s Gi lkerson broke ground in September, 2014 initially demolishing 60,000 s/f of unusable structure, leaving the main Historical structure, then started the replacement of the roof and reinforce the walls of the 15,000 s/f original structure. The initial phase of construction included the renovation of the existing facility and the addition of stair towers, an elevator and a common space, allowing for a total of 20,000 s/f. n “We look forward to continu- ing to acquire highly function, in-fill transload facilities like this one in top markets across the country,” added Charlton. This acquisition brings Cen- terPoint’s East Coast portfolio to 9.5 Million s/f across 65 buildings. n estate,” said PJ Charlton , senior vice president of invest- ments at CenterPoint. “We are excited to add another state-of- the art facility to CenterPoint’s growing East Coast portfolio.” Facility features include 183 exterior dock doors, 2 drive-in doors, 750 trailer positions and 210 car parking spaces. The location of the facility offers tenants reduced transporta- tion and drayage costs and ac- cess to a market of more than 50 Million people.
CHESAPEAKE, VA — CenterPoint Properties announced the acquisition of a 130,860 s/f facility on 34 acres at 3516 S. Military Highway in Chesapeake, VA. Ashton Williamson , Worth Remick and Lang Williams of CBRE represented CenterPoint in the transaction. The fully-leased class-A transload facility is located in close proximity to the Port of Virginia, CSX and NS inter- modals and the I-64 Beltway. This strategic location offers tenants accessibility to the East Coast population and expedited e-commerce freight. “With its proximity to major transportation infrastructure, the facility meets all our cri- teria on acquiring logistically- advantaged industrial real SALISBURY, MD — Gillis Gilkerson welcomed Morgan Stanley to River View Com- mons located at 150 West Market St., Salisbury. Morgan Stanley took over the third floor on March 18th.. “To have a national tenant like Morgan Stanley fill an entire floor of the new building shows the company’s level of commitment to the downtown community, said Dwight Miller , president, Gillis Gilk- erson. “With the rebirth of the old Feldman’s building, comes new opportunities and ways to improve the quality of life where we live and work.” Acorn Market will share space on the first floor with Angello’s Unique Gifts with plans to move in late spring and Gillis Gilkerson will re- locate its offices to the second floor of River View Commons late fall 2016. River View Commons, LLC principals, Dwight Miller, Palmer Gillis and J.B. Barnes thank the team at Becker Morgan for their
Patuxent Commerce Center
exceptionally competitive, as the capital markets are tre- mendously receptive to func- tional, well-located industrial property in the Baltimore- Washington Corridor,” said
Graham Savage of Cushman & Wakefield. “Competition among buyers is what drives our ability to provide our cli- ents with smooth and effective disposition processes.” n
Hortonworks and Datatribe sign leases with St. John Properties totaling nearly 12,000 s/f
Gillis Gilkerson welcomes Morgan Stanley to River View Commons
8115 Maple Lawn Blvd.
but we have created a collab- orative and nurturing environ- ment that will allow them to remain on the east coast, and build a support mechanism that allows them to keep their families here in Maryland. The proximity to drivers including the Johns Hopkins Applied Physics Laboratory, Defense Advanced Research Projects Agency and Intelligence Agen- cies weighed heavily in our decision. We have created the US version of Israel’s TEAM8.” 8115 Maple Lawn Boulevard features high-energy HVAC units, energy-efficient motion sensor light fixtures, double pane insulated glass, white TPO roofing membranes and high-efficiency plumbing fix- tures. Low VOC paint and adhesives were utilized in the construction, and storm water runoff will be managed utiliz- ing a state-of-the-art system that minimizes the effect on local waterways.
More than 1.8 million s/f of commercial office space is permitted within Maple Lawn’s commercial districts, in additional to a residential component that can support more than 1,300 housing units. A full-service hotel with confer- ence center is also part of the development program. St. John Properties and Greenebaum Enterprises formed a joint venture partnership several years ago to develop, lease and manage 300,000 s/f of com- mercial office and R&D space within Maple Lawn. Companies that maintain operations in Maple Lawn include Regus, NewDay USA, Raytheon, Air Patrol Corpora- tion and ELTA North America. The retail component includes merchants such as Harris Tee- ter, Looney’s Pub, Maple Lawn Market, Ranazul Restaurant, I.M. Wine, Sidamo Coffee & Tea and Coreworks Fitness Studio. n
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