8A — March 11 - 24, 2016 — DelMarVa — M id A tlantic
Real Estate Journal
www.marejournal.com
D el M ar V a Sales team: Firoozabadi, Mullen, Tangney, Ahmadian Greysteel arranges the sale of Clarks Lane Apartments
Investment Real Estate, LLC announces sale of Aunt Kitty’s Kubbyholes
ALTIMORE, MD — Greysteel , a Wash- ington, DC based bou- tique real estate investment services firm, has arranged the sale of Clarks Lane Apart- ments, a 14-unit multifam- ily community in Baltimore, Maryland. Greysteel’s Mid-Atlantic multifamily investment sales team led by Ari Firoozabadi , JohnMullen , W. Kyle Tang- ney , and Lance Ahmadian served as advisor and agent to 3501 Clarks Lane LLC in the successful disposition of 3501 Clarks Lane Apartments to Macadam Holdings. Clarks Lane Apartments is a lead-free walk-up multi- family community featuring a desirable unit mix of 14 two bedroom-two bathroom units with dishwashers, ceiling fans, central heat and A/C, gas stove tops, and patios. Residents benefit froman on-site laundry facility, free storage spaces in the basement of the build- ing, and 18 parking spaces. Moreover, the seller recently completed renovations total- ing over $20,000 that included a new roof and replacement B
Aunt Kitty’s Kubbyholes
electronic gates and paved drive aisles. The property enjoys great visibility from Route 26. Bledsoe said, “The seller built the property on a parcel that had been in his family for several generations and it held a lot of sentimental value. Thankfully, we were able to bring the seller several strong offers, and the pool of buyers varied from seasoned self storage veterans to first time storage operators. The winning bid came from a local investor who’s new to the self storage industry but he had been interested in a self stor- age investment for some time. We were happy to bring both parties together to complete the transaction.” n worked with Bulletin Intelli- gence as the director of busi- ness development. “We’re excited to have Mat- thew join our management team where he can leverage his robust talents and local market knowledge to expand the firm’s reach,” said Mer- rey. “As sales manager, he will be focused on supporting our agents, and boosting and monitoring sales and produc- tivity.” Drane joined Marcus & Millichap in August 2012 as a multifamily property invest- ment specialist in the Wash- ington, DC office. In 2013, he earned the firm’s Pace Setter award and the Washington, DC office’s Rookie of the Year award. In 2015, he received the firm’s Sales Recognition Award. Drane received a Bachelor of Science degree in busi- ness marketing from Miami University in Oxford, Ohio. He earned an M.B.A. from the University of Nebraska- Lincoln. n
WESTMINSTER, MD — Investment Real Estate, LLC announced the sale of Aunt Kitty’s Kubbyholes lo- cated in Carroll County, Mary- land. Aunt Kitty’s is located in Westminster, approximately 25 miles northwest of Balti- more, MD. Kevin Bledsoe of Investment Real Estate represented the seller and the buyer in the sale. The property sold for $1.28 million to a private self storage opera- tor. This single story facility built in 1996, was in excellent condition and was over 90% oc- cupied at the time of sale. The property consists of 12,550 s/f and holds 90 storage units. Situated on 1.53 acres, Aunt Kitty’s Kubbyholes features
Clarks Lane Apartments
of several HVAC units. Just over a mile from Clarks Lane Apartments are the Reister- stown Plaza and Rogers Metro Stations providing direct ac- cess to Downtown Baltimore. “Clarks Lane Apartments offers a tremendous oppor- tunity for new ownership to complete further unit reno- vations and increase rents by over 25%,” said Greysteel Investment associate, Lance open,” said Dwight Miller , president, Gillis Gilkerson. “Anytime we have an opportu- nity to work for a long stand- ing, reputable, locally owned business we look forward to the partnership and bringing solu- tions to the job to ensure the delivery of a quality product, on time and on budget.” “Gillis Gilkerson did a great job with the renovation,” said Russell Hall, Fisher’s Popcorn. “They were very professional
Ahmadian. “A solid transpor- tation infrastructure, acces- sibility to employers, high- performing school systems, and numerous amenities will continue to strengthen rent growth in the market and support high occupancy for the foreseeable future. We con- gratulate the seller and buyer on a successful transaction and wish them luck in their future endeavors.” n
EXIT Mid-Atlantic acquires regional rights to PA NORTH EAST, MD — Tami Bonnell , CEO of EXIT Realty Corp. International announced that Rick and Carol McDaniel , regional owners of EXIT Mid-Atlantic (Maryland, Delaware, West Virginia andWashington, DC) have acquired the regional rights to the State of Penn- sylvania. and development in their real estate careers.” “Rick and Carol are doing such a tremendous job in the mid-Atlantic region, they are the right choice to lead Penn- sylvania in 2016 and beyond,” said Bonnell. “With the staff and systems they have in place we look forward to consider- able growth in that State.” Carol and Rick McDaniel Gillis Gilkerson renovates Fisher’s Popcorn in Fenwick, DE FENWICK, DE — Gillis Gilkerson , a general contract- ing and construction manage- ment firm in Delmarva, an- nounced the completion of the renovation of Fisher’s Popcorn at 37081 Coastal Highway in Fenwick. and made a point to work around our schedule.” Gillis Gilkerson renovated the first and second floor, 5,000 s/f of the retail space. The renovation included the instal- lation of steel bracing, drywall, finishes and the relocation of the HVAC systems. “With a brand and product as popular as Fisher’s Popcorn, we wanted to make sure we didn’t disrupt their business so we made sure to schedule the reno- vation work when they weren’t Gillis Gilkerson project man- ager, Jason Rudd and su- perintendent, Mike Funk completed the renovation in one month. n
Marcus & Millichap names Matthew Drane sales manager of DC office
WASHINGTON, DC — Marcus & Millichap , a
l e a d i n g commercial real estate investment services firm with offices throughout the United States and Canada, has
Matthew Drane
named Matthew Drane sales manager of the Wash- ington, DC office, according to Bryn Merrey , first vice president and district man- ager. In his new role, Drane will work with Merrey and David Bradley to oversee Washington, DC office opera- tions. Bradley, who has been the acting sales manager in Washington, DC, will be mov- ing to Richmond, VA to open offices and grow the firm’s footprint in Richmond and Hampton Roads. Prior to joining Marcus & Millichap, Drane held the position of associate partner with Gallup Inc. He has also
the top real estate brokerages in the system. “Our vision is to unify and strengthen all of our five states,” said Carol McDaniel. “We see exciting opportunities in the future for our Brokers and Agents by pulling together and capitalizing on our syner- gy to achieve profitable growth
EXIT is a proven real es- tate business model that has to-date, paid out more than a quarter billion dollars in single-level residual income. EXIT’s MIND-SET Training Systems offer the industry’s best hands-on, interactive sales training. n
The McDaniels joined EXIT in 2002 and have enjoyed an il- lustrious career with the com- pany, achieving Region of the Year in both 2005 and 2012. They will add Pennsylvania’s 8 brokerages to the 32 already under the EXIT Mid-Atlantic banner, which include some of
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