12A —October 13 - 26, 2017 — DelMarVa — M id A tlantic
Real Estate Journal
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G Montgomery of HBW Group reps. Office Paper Systems Matan Companies acquires MontgomeryCounty ind. Park
Secures lease prior to start of construction KLNB represents dev. in 23,000 s/f lease
5904 Richmond Highway is a newly renovated office building with suites ranging from 1,800 to 15,780 s/f. Conveniently located, the building has easy access to Route 1, Old Town Alexandria and the National Harbor. It’s also within walk- ing distance to the Huntington Metro Station and Mount Ver- non Trail. Simon, who handles the leas- ing for all of the office buildings in Huntington, believes that the area is the next up and com- ing location in Fairfax County. “We are incredibly in tune with the Huntington market and it’s clear that it is an untapped submarket with great potential and high expected future densi- ty,” said Simon. “As companies continue to look for lower lease rates compared to Old Town Alexandria, they will immedi- ately see value in Huntington thanks to its prime location and anticipated growth.” Teddy Kim, principal at Avanti Holdings Group, echoed those sentiments. “Avanti has a strong presence in Alexan- dria we purchased nearly $15 million worth of assets there in the last six months. But as we looked at the growing tech community, we saw value in expanding our portfolio into Huntington as well.” n “I’m the byproduct of an IBM internship, so for me, it’s personal,” said Vazquez. “I know it works.” Verizon’s philosophy is that people come first. It’s a mantra not always heard from the real estate industry. Vazquez welcomes the change because it gives his work and company-built ini- tiatives a greater reason-to-be, to steer the evolution of a new Verizon. While sophisticated technology is essential to the business, location is critical to attracting and developing a talented work force. “We’ve established a strate- gic approach to property where the workplace is a destination; our aim is to build environ- ments where people want to come to work. The workplace should inspire employees and allow them to focus on deliv- ering on our promise to our customers because at Verizon, what we do today is never good enough for tomorrow.” John Vazquez is senior vice president of Global Real Estate at Verizon. n the company has gleaned new ideas.
continued from page 10A By John Vazquez . . . respective fields. What attributes does Verizon seek in a new hire, regardless of the market? “I’m interested in employees who are hungry to learn, open minded, and love change,” said Vazquez. This sounds like a liberal arts edu- cation mixed with technology. “It’s the evolution from an in- dustrial workplace to a technol- ogy workplace.” And it changes the real estate dynamic from one that emphasized buildings to one that emphasizes people. The Enduring Value of Internships Even while other aspects of Verizon’s talent and real es- tate strategy evolve, corporate internships remain invaluable to the company. “We take about eight interns per year with the intention of hiring them all,” said Vazquez. Yes, they’re drawn to Verizon, but they also feel the pull of being able to have an internship in New York. Verizon recruits in- terns from around the country for its internships, and they perform real work, including original research from which Balt imore , MD — KLNB , the full-service com- mercial real estate brokerage firm, announced that Gross Mendelsohn has signed a lease in the five-story, 75,000 s/f office building that is part of Phase Three of the McHenry Row expansion. The accounting, tax, wealth advisory and technol- ogy consulting firm has leased 23,000 s/f of office space. Joe Nolan and Dave Fritz princi- pals at KLNB represented the developer, 28 Walker Develop- ment. Courtenay Jenkins and Bronwyn LeGette of Cushman & Wakefield rep- resented the tenant. Gross Mendelsohn’s signed lease comes before construc- tion on the building has even begun, which Nolan says is a rare occurrence but speaks to the value of McHenry Row and high demand for the property. In a second transaction, KLNB announced the sale of 5904 Richmond Highway, a 78,000 s/f office building located in the Huntington submarket of Fairfax County, VA. Joshua Si- mon, SIOR , principal at KLNB, represented the buyer, a Joint Venture of Rock Creek Prop- erty Group and Avanti Holdings Group, LLC. The property sold for a price of $8.3 million, equat- ing to nearly $106 psf.
aithersburg , MD — The Matan Companies has pur- chased a 78,164 s/f industrial park located at 7650-7750 Air- park Dr., in Gaithersburg. The 5.4-acre property, known as Airpark Industrial Center, is comprised of three buildings, a 47,878 s/f warehouse, a 21,780 s/f warehouse, and an 8,506 s/f retail building, with a fully fenced, lighted parking lot. “We continue to expand our industrial portfolio across the region and are thrilled to be back in the Montgomery Coun- ty industrial market,” said James Matan of the Matan Companies. “Airpark Indus- trial Center is an impeccably maintained industrial project that will have a wide appeal to users looking for high qual- ity product in Montgomery County. It provides the unique Washington, DC — Trammell Crow Company (TCC) and joint venture part- ners, Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital Real Estate, have completed the sale of the 1.5 acre Sentinel Square III site located at 45 L St.NW, Wash- ington, DC to an institutional investor joint venture advised and managed by MetLife In- vestment Management. Anthony Balestrieri, director and head of acquisitions for MetLife Investment Manage- ment in Washington DC, said, WASHINGTON, DC — DSC Partners LLC , a real estate investment company focused on acquiring office and mixed-use properties across the Washing- ton D.C. metropolitan area, an- nounced today Patrick Kelly joins the firm in the position of senior vice president. Pat Kelly brings 15 years of experience in commercial real estate to DSC Partners to provide strategic planning, asset management, and joint venture relationship manage- ment. During his career, he has completed nearly $3 billion of commercial acquisitions, dis- positions, investment sales and property financings throughout the Washington D.C. Metro Area. “I am very pleased that Pat is joining our team at DSC Part- ners,” said principal Douglas
7750 Airpark Dr.
combination of visibility, 40’ clear ceiling height, docks and Dr.-ins, and yard storage.” The seller, Office Paper Sys- tems, had utilized the property as their headquarters since 1999, where they handled all mixed-paper recycling for
Montgomery County, before retiring from the recycling business this year. The seller was represented in this trans- action by Gary Montgomery of HBWGroup . At the time of acquisition the property was vacant. n berg and Chris Riley of Cush- man &Wakefield represented the Seller in the transaction. Sentinel Square III is part of the selling partnership’s three phase, 1.3 million s/f office com- plex. The building is designed to meet ISC Level IV security protocols, is pursuing LEED Silver and is part of Trammell Crow Company’s larger “highly secure, environmentally friend- ly, efficient and affordable” office development program, which includes Patriots Plaza and National Square in Wash- ington DC as well as various build-to-suits nationwide. n management. Kelly is a former member of the board of directors at the Ju- bilee Support Alliance, a mem- ber of NAIOP, and a candidate to be a Certified Commercial Investment Member. In July, DSC Partners an- nounced the closing of its first acquisition, 77 Upper Rock in Rockville, MD, which was ac- quired for $19.5 million from the former JBG Cos. as part of a joint venture with a domestic investment fund. DSC recently hired Transwestern and has commenced marketing of the eight-story, 232,282 s/f class A office building. 77 Upper Rock is fully available for lease and is located at the intersection I-270 and Shady Grove Rd. within short walking distance to many newly constructed retail amenities. n
Dsc Partners hires Patrick Kelly as senior vice president TCC completes the sale of Sentinel Square Iii “We are pleased to partner with Trammell Crow Company on the development of Sentinel Square III. This property rep- resents an opportunity to add a high-quality, materially-leased asset in the NoMa submarket of Washington DC. As an up and coming area which benefits from the NoMa Metro Station and its proximity to Union Sta- tion, and with a growing base of residential, retail, hotel and entertainment amenities, we believe NoMa is well positioned to become a great place to live, work and play.” Bill Collins, Shaun Wein-
Donatelli . “We worked very closely with Pat for years at First Potomac Realty Trust, and will not only gain from his hands-on track record and his experience with acquisitions and management, but we will benefit from his expansive relationships that will be key during this important stage of our growth.” Kelly has been honored with numerous awards, including Real Estate Forum 50 under 40, and NAIOP Best Real Es- tate Transaction sale $20 mil- lion to $50 million. Pat previ- ously worked at First Potomac Realty Trust as the vice presi- dent of acquisitions and asset management. Most recently, Kelly was a managing direc- tor at Phillips Realty Capital where he was responsible for overseeing senior transaction
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