14A — March 11 - 24, 2016 — DelMarVa — M id A tlantic
Real Estate Journal
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D el M ar V a
Joint venture of New Mill Capital Holdings & Tiger Group purchases 91,000 s/f
ASHINGTON, DC — Global insurance solutions provider 21,000 s/f lease on behalf of Clements Worldwide Savills Studley represents tenant in HQ relocation W
a highly attractive event for potential buyers in the flexible packaging vertical. In addition to the equipment, the building has been very well maintained and the versatile layout can easily fit a variety of industrial uses going forward.” The plant is located at 3551 Lee Hill Dr. in Fredericksburg and sits on approximately 8.8 acres. It is currently available for sale or lease through Virgil Nelson of Cushman&Wake- field—Thalhimer . “This acquisition epitomizes the strategy of our joint ven- ture, which is to purchase first-class industrial plants on a turnkey basis for the purpose of remarketing the assets,” said Jeff Tanenbaum , presi- dent of Tiger Capital Group’s remarketing services division. “We look forward to a success- ful auction sale and to working with the Fredericksburg com- munity to put another user into the vacant space.” n ry Row project,” said Brian Gibbons , chairman and CEO of Greenberg Gibbons. “We are excited to add the center to our growing portfolio of properties.” Reisterstown Shopping Center was locally owned by a partnership including Chesa- peake Realty Partners , which developed the project in 1960 and was managed by Fedder Management Cor- poration . The partnership developed the retail property as part of a 700 acre parcel that included 4,000 for-sale homes and 800 rental town- homes. “We are pleased that a local, respected company is tak- ing over this property, which has been in my family for 56 years,” said Lawrence Macks, Co-Chairman and CEO of Chesapeake Realty Partners. n knowledgeable about the mar- kets in which they will be purchasing and more strategic with their procurement tech- niques to effectively brace for price hikes. Using strategies like purchasing services sooner rather than later or engaging in supply agreements to lock in favorable rates can shield buyers from the brunt of the damage. Armed with key pric- ing insight, buyers can gain the upper hand in negotiations. n
FREDERICKSBURG, VA —A Joint venture of NewMill Capital Holdings and Tiger Capital Group , both based in New York, has acquired Printpack’s flexible packaging, printing and tamper-evident label manufacturing facility in Fredericksburg. The trans- action, which included all equipment in the plant, closed on Feb. 12 for an undisclosed price. The 91,000 s/f plant, which manufactured labels and tam- per-evident banding for a variety of industries, was pur- chased turnkey with all equip- ment still in place. An auction of the plant’s equipment is scheduled for early May 2016. “We are excited about this purchase,” said Eric Weiler , principal of New Mill Capital Holdings. “The capability and quality of the manufacturing lines and support equipment available in Fredericksburg will make this auction sale REISTERSTOWN, MD — Greenberg Gibbons an- nounced that it has purchased the Reisterstown Shopping Center, a 167,212 s/f com- munity shopping center in Reisterstown. Located on busy Reister- stown Rd. and accessible from nearby I-795, Reisterstown Shopping Center features Mars Supermarket, Planet Fitness, and a mix of na- tional and regional stores and restaurants. Greenberg Gibbons plans to update and remerchandise the property and aims to bring new stores and restaurants to its retail lineup. “Reisterstown Shopping Center gives us another op- portunity to bring more high quality retailers to the bus- tling Reisterstown Road Cor- ridor in addition to our Found- prices, they can limit the nega- tive impact by entering into contractual agreements now rather than waiting. In addi- tion to guaranteeing shippers a spot at a locked-in price, these contract agreements can also help improve the reliability and timeliness of shipments. Purchasing in the New Year With the new year right around the corner, businesses should resolve to be more continued from page 2A
ington, DC on the 12th floor at the top of 1301 K St. NW with direct views of Franklin Park. The geometry of the new floorplate is more efficient and modern in its design than the company’s previous space and aligns perfectly with the firm’s plans for further expansion. Additionally, the amenities at One Franklin Square, includ- ing a tenant-only fitness cen- ter, newly constructed roof top terrace and conference facility made it the ideal fit. “We have doubled in rev- enue growth over the past five years and have aggressive tar- gets for the next five. We need- ed a new space that would complement that growth,” said CFO, Tarun Chopra of Clements Worldwide. “One important element of that is there is now room for more staff and an open floor plan to encourage collaboration. Equally important, we needed space to accommodate client Connect. ThreatConnect recently moved from 2700 S. Quincy St., also in Arlington, to its new office at 3865 Wilson Blvd., a property owned through a joint venture of American Realty Advisors and the Penzance Companies . ThreatConnect focused its search on the Rosslyn-Ballston corridor, which, according to King, is an attractive area in Northern Virginia from a recruiting perspective. “By increasing its real estate foot- çades with glass, masonry, and sculptural metal. The project includes infilling floor slabs where a gymnasium and rac- quetball courts currently exist, as well as converting a swim- ming pool into two levels of below-grade parking. Hickok Cole Architects will design the building with efficient, 14,000 s/f floor plates, offering ideal core-to-perimeter dimen- sions. The modern facility will boast a two-story lobby and all the amenities sought by today’s office Clients, includ- ing: a state-of-the art fitness facility with locker rooms; a landscaped, rooftop terrace; and, an option for conference facilities on either the pent- house level or ground floor. The building’s upper floors fea- ture sweeping views of Scott Circle, Connecticut Avenue,
interaction given our current size and stature, as well as meetings with underwriters. We support many of DC’s leading humanitarian aid or- ganizations, the State Depart- ment and USAID, contractors for those agencies, and more. So we required a location that was close to and best served our diverse and growing cus- tomer base.” Savills Studley’s execu- tive managing director Ben Plai sted and corporate managing director Greg Scheipers represented Cle- ments Worldwide throughout the transaction. “It has been a pleasure working with the leadership team at Clements Worldwide on this very exciting project,” said Plaisted. “We are pleased that we were able to secure ef- ficient space for the company’s new headquarters that will ac- commodate it for many years to come.” n print, ThreatConnect has room to accommodate its rap- idly growing workforce,” King said. The Ezra Company execu- tives secured a deal with extremely competitive terms, favorable concessions, and a top-of-the-line build-out. “Ultimately, our negotiations resulted in an opportunity that enabled our client to ex- pand and relocate in advance of their lease expiration while exceeding typical market con- cessions,” Weinblatt said. n and the Washington National Cathedral. 1701 Rhode Island is targeting LEED Gold certi- fication and will serve as the ideal location for law firms, government affairs agencies, and think tanks. “Akridge is proud to reju- venate this prominent site,” said Matt Klein , president of Akridge. “After the tremen- dous success we experienced just across the street at 1200 Seventeenth Street, we are excited to deliver another best- in-class, efficient office build- ing to this neighborhood in the Central Business District.” Akridge’s leasing team will begin leasing efforts immedi- ately, and Akridge and Alcion have committed to begin con- struction by early 2017. The building is scheduled to be delivered in summer 2018. n
Clements Worldwide has re- located its Washington, DC office to 1301 K St. NW, in a move that directly reflects its rapid growth internally and further positions the company as a leader in the industry. Savills Studley , one of the leading commercial real estate services firm specializing in tenant representation, com- pleted the transaction of the 21,000 s/f lease on behalf of Clements Worldwide. Clements Worldwide’s con- tinued expansion paired with the executive team’s desire to upgrade its headquarters to a more sophisticated and upscale location, prompted the move to One Franklin Square, located just two blocks from its previous address. The in- terior of the space was newly constructed and sits at one of the highest points in Wash-
Greenberg Gibbons acquires Reisterstown Shopping Center
The Ezra Company represents ThreatConnect in HQ lease ARLINGTON, VA — The Washington, DC-based Ezra Company , a leading commer- cial real estate firm that exclu- sively represents tenants, an- nounced that ThreatConnect has executed an approximate 10,000 s/f headquarters lease expansion and relocation to 3865 Wilson Blvd. in Arling- ton. Akridge to transform YMCA building into office building WASHINGTON, DC — Akridge announced its ac- quisition of the former YMCA National Capital building at 1711 Rhode Island Ave., NW. Akridge and its partner, Alcion Ventures, L.P ., will transform the property into a 100,000 s/f boutique office building. The property, located at the corner of Seventeenth St. and Rhode Island Avenue, will be renamed 1701 Rhode Island. Ideally situated at the confluence of the Central Business District and DC’s popular Fourteenth Street and Dupont Circle neighborhoods, 1701 Rhode Island will offer Clients easy access to dozens of restaurants and retailers, as well as multiple transporta- tion options. In this long-term transac- tion, senior vice president, EzraWeinblatt and associate vice president, Erica King negotiated on behalf of Threat-
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Akridge plans to completely replace the building’s four fa-
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