2C — October 22 - November 18, 2021 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers R 18,000 s/f building located in Woodbridge, Virginia Edge Property Svcs. wins asset management contract
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OODBRIDGE, VA — The Edge Property Services Group has been selected to provide f prop- erty management, engineering and accounting services to Po- tomac Plaza, a nearly 18,000 s/f medical center located at 14010 Smoketown Rd. inWoodbridge. The asset is owned by Wood- bridge Medical, LLC. Christi- naMartin , director of property management will oversee the property management team and Shaun Comer , director of engineering will direct the facilities and engineering team for both requirements. “Medical office buildings such as Potomac Plaza have vastly PHILADELPHIA, PA — CBRE has arranged the sale of a luxury student housing community (N15) located at 1516-18 North 15th St. in Philadelphia. A private inves- tor acquired the property for $8.0 million. Adrian Sam and Spencer Yablon of CBRE’s Phila- delphia Multifamily Capital Markets team spearheaded the marketing campaign and represented the seller, North Broad Living, during the sales negotiations. “Built in 2012, N15 consists
Potomac Plaza
different property manage- ment and engineering services requirements than the typical commercial office building, and the Edge team is extremely experienced in this asset cat- egory,” said Martin. “The high- traffic nature of MOBs require more frequent cleaning and preventive maintenance pro-
tocols, and there is a greater emphasis placed on the efficient operation of HVAC systems, as well as implementing dual power. Our team continues to build a critical mass of projects in the Woodbridge submarket, which creates improved eco- nomic efficiencies across the board.” MAREJ maintained strong occupancy prior to and throughout the pandemic.” “Student housing was a particularly challenging space during the height of the pan- demic, with many students moving back home,” continued Sam. “However, that trend has now reversed itself as stu- dents have returned to cam- pus in droves. The significant demand by students returning to campus contributed to a strong leasing season for N15, which was 99% occupied at the time of sale.” MAREJ
Contact Lea Christman for more information! 781-740-2900 or lea@marejournal.com
CBRE announces $8.0M sale of luxury student housing community
N15
of 75 beds within 36 units and is located in the most desirable location for Temple students,” said Sam. “The North 15th Street corridor is comprised almost entirely of student housing which has performed very well and
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