12B — January 2025 — 2025 Forecast — M id A tlantic Real Estate Journal
www.marej.com
2025 F orecast
ALTIMORE, MD — MCB Real Estate saw a steady level of growth Firm acquired $600 Million in new assets and leased 2.3 million s/f MCB Real Estate rings in 2025 following two years of exceptional growth B
this industrial property with the specific goal of acquiring top-tier, innovative businesses that would drive economic growth and deliver substantial economic value to the region. In West Baltimore, the Res- ervoir Square development remained a key highlight for MCB in 2024 and furthered the ongoing renaissance of the neighborhood. The eight-acre parcel, formerly known as Madison Park North, is being transformed into a mixed-use development featuring retail and office spaces, 200 apart - ments—including workforce units—and 120 market-rate single-family townhomes cur- rently under construction, 34 of which have already been sold by national home builder, Ryan Homes. Additionally, it was announced that Reser- voir Square will become the new home for the Baltimore Mayor’s Office of Employment Development Headquarters using an innovative financing structure that gives the City the ability to finance this new asset at significantly less cost than a traditional City project. In the multifamily and stu- dent housing sectors, the firm’s prowess was on full display with the completion of vertical construction at The Enolia, a 151-unit, 473-bed, off-campus housing project located less than one mile from Mary- land’s flagship HBCU, Morgan State University in Baltimore. Named after civil rights pio- neer and educator Enolia Pet- tigen McMillan, the property is the first new, privately built off-campus housing project to serve Morgan students in more than 20 years and comes at a crucial time for the university as it faces a housing shortage amid record enrollment. The year was also full of significant acquisitions for the company that showcased MCB’s expanding presence in markets across the country. Some of the most prominent include the 273,424 s/f Falcon Ridge Town Center in Fon- tana, CA for $64.7 million. Another noteworthy retail property addition to MCB’s portfolio was the $14.6 mil- lion purchase of the 51,205 s/f Takoma Park Shopping Center in Takoma Park, MD, just six miles from downtown Washington, DC. One of the more notable in- dustrial acquisitions for MCB in 2024 included a 368,000 s/f
warehouse in Howell, NJ for $69.9 million, which included a full building lease that was signed at closing. In the commercial health- care sector, one of the most significant deals for MCB Sci- ence + Health , MCB’s life sci- ence subsidiary, was the $28 million purchase of the 72,000 s/f, four-story iMed Naperville Medical Center office building in Naperville, IL. Throughout 2024, MCB and its team were celebrated for success and leadership. In April, MCB won two “Best in Commercial Real Estate” Awards at NAIOP Mary- land’s biannual “Awards of Excellence” ceremony. The event honors the innovative achievements of regional com- mercial real estate developers, along with the companies and professionals who support the industry across the Maryland region. In addition to recogniz- ing MCB’s projects industry awards, MCB’s staff was also widely celebrated in 2024. In June, Amy Bonitz , manag- ing director of community development, was named a 2024 honoree of the Baltimore Business Journal Women Who Mean Business awards. Then, in July, president Gina Baker Chambers was named to GlobeSt.’s Women of In- fluence class of 2024 in the Investment Professional cat- egory. P. David Bramble was acknowledged in September with the Community Impact Award at the Baltimore Met Gala for his ongoing efforts to support local communities across Charm City. MCB further solidified its position as an industry leader in June through an industry spotlight that highlighted the skillful assembly of a capital stack for the firm’s Yard 56 development in East Baltimore, a 100,000 s/f mixed-use project that won the 2023 ULI Wave- maker Award. In the same month, MCB achieved a rapid lease-up of the Lofts at Yard 56, the residential portion of the property, reaching stabiliza- tion in just ten months—well ahead of the 18-month pro- jection. MCB also showcased its unmatched expertise and thought leadership in the retail sector by publishing the “Retail Investing Outlook”, a detailed market analysis of the US re- tail market, spotlighting key growth areas and opportunities for savvy investors.
To help fuel the company’s strategic growth, MCB wel- comed 36 new team members in 2024. This included the June hiring of Jared Stile as the company’s new CFO, bringing decades of industry- leading expertise. As Bramble adds, MCB’s success in 2024 is only possible because of one thing: the team. “Our accomplishments are a direct result of the incredible talent, dedication, and collabo- ration of our team. Everyone plays a crucial role in bringing our vision to life, and it’s their hard work and passion that have driven our achievements, and they will be what drives us to even greater success in the future.” Looking ahead to 2025, MCB
PR agency like CMM Stra- tegic Communications, firms can effectively communicate their value proposition, build brand awareness and achieve untapped, sustainable growth. Carin McDonald is presi- dent of CMM Strategic Communications, a lead- ing public relations and marketing firm specializ - ing in the commercial real estate industry. With 26 years of experience, CMM helps clients elevate their brands, generate leads and achieve their diverse and far-reaching business goals. MAREJ is excited about the opportuni- ties on the horizon, with a focus on optimizing 15 million s/f of existing properties, advancing four million s/f of transforma- tive projects, and delivering 700,000 s/f of new, market- leading developments. MCB is committed to attracting diverse capital, forging strong partnerships, and pursuing acquisitions in high-growth areas to further strengthen the firm’s portfolio. By driv - ing innovation and strategic investments, MCB continues to shape markets and create lasting value, while remain- ing dedicated to supporting small businesses, promoting sustainability, and strengthen- ing communities for long-term, positive impact. MAREJ
in 2023 and 2024 in new d e v e l o p - ments, leas- ing, assets under man- a g eme n t , awards, joint ventures, ac- quisitions,
P. David Bramble
and geographic reach into new markets. In the 24-month peri- od, the firm acquired $600 mil - lion in new assets and leased 2,300,000 s/f of property. The firm closed 2024 commanding $3 billion in assets under man- agement, boasting a diverse portfolio of nearly 15 million s/f across high-demand sec- tors such as industrial, office, retail, mixed-use, multifamily, and life sciences properties, with almost four million s/f actively under development. “2024 has been a year of re- markable growth and achieve- ment for MCB,” said MCB managing partner and co- founder P. David Bramble . “We’re incredibly proud of the milestones we’ve reached, from delivering innovative real estate projects to bolstering communities to strengthen- ing our investor partnerships across the country. Our team’s dedication and vision have set the stage for even greater suc- cess in the years to come.” MCB began 2024 with a milestone achievement, an- nouncing in February the larg- est attainable housing project deal in the history of Baltimore County. MCB, in partnership with the Baltimore County government and Goldman Sachs Asset Management’s Urban Investment Group , preserved 460 affordable hous- ing units across three multi- family properties in Baltimore County. Later in the year, Later in the year, MCB’s ef- forts were recognized with the 2024 Community Development Network of Maryland Impact Award, which MCB shared with the Baltimore County Department of Housing and Community Development . MCB built on the momen- tum with an announcement that the firm and its partners had executed a 1.2 million s/f tenant lease of its Currwood Logistics Center property in Hagerstown. MCB and its partners led the conception design and construction of
By Carin McDonald, CMM . . . leases, media pitches and other communications materials continued from page 1B
processes, your tools, and your people? Those ARE dependable. It’s how you create and maintain calm in the face of chaos—how you metamor- phically sprinkle oil over churning waters. Implementing the Framework The journey toward opera- tional resilience isn’t about solving every potential problem at once; it’s about preparing for them through a strategic approach. Think of it as a step- by-step guide that aligns your business goals with predictable and planned stability. Are your plans flexible enough to pivot yet robust enough to withstand pres- sure? Exploring your organi- zation’s adaptability is key to maintaining normalcy during turbulent times. What steps can you begin implementing • Build and maintain re - lationships with key media contacts • Monitor media coverage and track campaign results • Provide valuable in - sights and recommendations to optimize PR efforts Simply put, there is no sub- stitute for a robust PR strat- egy for CRE firms looking to thrive in 2025’s competitive landscape. By embracing a multi-faceted approach, le- veraging the latest trends and partnering with a reputable
continued from page 8B By Michael Mullin, Integrated . . . today to embed resilience into your operations?
The Peace of Mind It Brings You own the most signifi - cant risk – the money. It’s fitting that you, then, are the peacekeeper. When the framework is es- tablished, the magic unfolds. Suddenly, unexpected disrup- tions lose their bite. The num- bers align, projections hold, and continuity becomes more than a distant goal. This peace of mind is rooted not in luck but in the carefully calculated steps to safeguard your enterprise. So, the ques- tion becomes not if you need op- erational resilience but rather how soon you can start. And if you’ve started already, do you have everything covered? Michael Mullin is presi- dent/CEO of Integrated Business Systems. MAREJ
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