Real Estate Journal — September 14 - 27, 2018 — 19A
M id A tlantic
To Innovation Park, Prince William County, VA Medliminal moves corporate headquarters
CBRE arranges sale of two office bldgs. inWilmington
RINCE WILLIAM COUNTY, VA — The PrinceWilliamBoard of County Supervisors is pleased to announce Medlimi- nal, LLC, an innovative leader in medical cost containment and healthcare cost reduction, will move its corporate head- quarters to Innovation Park, Prince William County. The company intends to invest $2.4 million and will initially bring 10 employees with plans to hire up to 70 more, as it grows. “We are excited to bring our growing enterprise to Innova- tion Park,” said Jim Napoli, CEO, Medliminal. “Moving to a premier location like Innova- tion Park in Prince William County provides the most advantageous setting for our corporate headquarters.” The company’s new address is 9385 Innovation Dr., Manassas - a 17,400 s/f office space that will accommodate current and future needs. The com- pany presently has locations in California, Virginia and Washington, D.C. Corey Stewart , Chair- man, Prince William Board of County Supervisors, said: “It is great to welcome Medlimi- nal into our growing health- P CATONSVILLE, MD — Maryland-based The Severn Companies and nationally recognized Enterprise Com- munity Investment Inc. (Enterprise) have partnered to acquire Ivy Crossing, a 99-unit multifamily property in Catonsville. Ivy Crossing, built in 1947, provides vital affordable workforce housing to its residents. “Making significant invest- ment in older multifamily properties like Ivy Cross- ing is not common,” said Alexander Rouse , COO of The Severn Companies. “We realized this was a rare opportunity to make much- needed improvements while keeping these homes afford- able for working families. We are dedicated to collaborating
Courthouse Square and Rockwood Office Park
9385 Innovation Dr.
NORFOLK, VA — Cush- man & Wakefield | Thal- himer’s Capital Markets Group has represented the seller in the sale of Main Street Tower, located at 300 East Main St. in Downtown Norfolk. The 14-story, 199,621 s/f class A office building is 73% leased to seven tenants. An investment fund out of Chicago, IL, acquired the asset for $18.55 million. The sale was completed by Eric Robison of Thalhimer’s Capital Markets Group, and assisted by office leasing bro- ker Rob Wright of Cushman & Wakefield | Thalhimer’s Hampton Roads office. Cushman & Wakefield | Thalhimer announced that Annie O’Connor has joined the Richmond office as a senior associate specializing in retail sales and leasing. Prior to join- ing Thalhimer, O’Connor was an associate with Colliers Int’l., where she specialized in retail sales and leasing with a focus WILMINGTON, DE — CBRE announced that it had arranged for the sale of Court- house Square and Rockwood Office Park two office proper- ties located in Wilmington, to Real Capital Solutions for an undisclosed sale price. CBRE Capital Markets’ Institutional team members Robert Fahey, Jerry Kran- zel, Erin Hannan and Jack Corcoran represented the seller, Pine Street Real Estate Holdings Corp. & Rockwood Office Park Associates, L.P., in the marketing and sales ne-
gotiations. CBRE’s John Kac- zowka, Brian Hopkins and Dan Reeder , who are based in the firm’s Wilmington office, also assisted with the sale. Joe Bowar and Scott McDonald of Real Capital Solutions rep- resented the buyer. Located at 600 North King St., Courthouse Square is a 162,212 s/f newly renovated class A office building Rockwood Office Park, which consists of three, three-story of- fice buildings totaling 204,725 s/f is located at 501, 503 and 505 Carr Rd. in Wilmington.
care industry sector – a key industry for driving employ- ment. We are committed to supporting the needs of our business community with top talent, enhanced collabora- tion and greater operational efficiencies, while providing employees a top-notch quality of life.” “We are delighted to wel- come Medliminal to Innova- tion Park,” said Jeanine Lawson , Brentsville District Supervisor, Prince William Board of County Supervisors. “As an innovative company bringing 70 new highly-skilled jobs, with an average salary of $74,000, Medliminal is a valued corporate partner to our community.” “Innovation Park is a vi- brant and diverse business community that is becoming increasingly recognized as a
prestigious corporate opera- tions and research hub, as it continues to attract high cali- ber enterprise from all indus- tries,” added Lawson. The Prince William Board of County Supervisors ap- proved an agreement between Medliminal and the Indus- trial Development Author- ity (IDA) of Prince William County and agreed to provide a $100,000 Economic Devel- opment Opportunity Fund (EDOF) grant, as an incentive for the project. Spearheading the build-out of Medliminal’s new corporate headquarters is VP of operations, Jordan Hill , who shared: “We have al- ways enjoyed a long-standing relationship with Prince Wil- liam County and are excited to be in Innovation Park and part of a growing community of business enterprises.”
Richmond office welcomes Annie O’Connor Cushman&Wakefield|Thalhimer brokers 199,621 s/f sale inNorfolk
The Severn Companies partner with Enterprise Community Investment on Catonsville Community
Main Street Tower
o n r e s t au - rants. Prior to Colliers, she worked for Sysco as an ac count m a n a g e r , wh e r e s h e developed a strong sense
with Ivy Crossing residents as we bring this property up to modern standards and en- sure residents enjoy a stable, thriving community for years to come.” The Severn Companies’ ren- ovation program for Ivy Cross- ing will include extensive exte- rior and interior work, cover- ing everything from select roof, parking lot, exterior brick, sidewalk and grounds repairs
to unit renovations, including refinishing hardwood floors and kitchen and bathroom updates. Renovations at the property have already begun. Enterprise is making this work possible by providing $3.065 million in equity. Fi- nancing the preservation of Ivy Crossing is another ex- ample of Enterprise’s role as a national leader in socially driven capital investment.
of the restaurant industry and the needs of those owners. This experience gives her a great understanding of the Richmond market.
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