18 — August 2026 — DelMarVa — M id A tlantic Real Estate Journal
www.marej.com
D el M ar V a
Strong leasing momentum at First Park New Castle First Industrial announces lease-up of 226,074 s/f building
Dan Baker leads new office IMC Construction expands into DC region
having the right team in place from day one,” said Michael Lloyd , president and CEO of IMC Construction. “That is why we made a deliberate investment in recruiting some of the region’s most accom - plished construction leaders. Dan, Pavlo and Debbie bring deep market knowledge, trust - ed relationships and proven project experience. Combined with IMC’s scale, technology, operational expertise and cli - ent-focused culture, we believe we have assembled one of the strongest construction teams in the DMV.” The new office will be led by Dan Baker , VP; Pavlo Vill- hauer, project executive; and Debbie Jones , business devel - opment manager. Collectively, the team has led many of the Washington region’s landmark projects, including Ford’s The - atre, Corpus Christi Church, Mount Vernon Recreation Cen - ter, UMMS Laurel Hospital and the Old Dominion Boat Club. “I’m proud to join this storied organization and lead IMC’s expansion in the DMV,” said Dan Baker. “Our deep under - standing of this market and longstanding subcontractor relationships, combined with IMC’s operational strength, technology-driven approach and culture of collaboration, create a unique platform for growth and continued success for our clients.” Named ENR MidAtlantic’s Contractor of the Year, IMC is recognized for its ability to deliver complex projects while maintaining a highly collaborative, client-focused approach. The company con - tinues to grow its geographic footprint while preserving the entrepreneurial culture and personalized service that have defined its success for more than five decades. MAREJ
WASHINGTON, DC — IMC Construction , head - quartered in Malvern, PA,
EW CASTLE COUN- TY, DE — First In- dustrial Realty Trust, Inc. , a leading US-only owner, operator, developer and acquirer of logistics properties, announced the completion and full lease-up of its first build - ing at First Park New Castle in the Philadelphia market in northern Delaware. First In - dustrial leased the 226,074 s/f logistics facility at completion. On the strength of this suc - cess, First Industrial com - menced development of the second building at the park, a 612,554 s/f facility. The building is designed to serve multiple tenants and its com - pletion is expected in the first half of 2027. Collectively, the park will encompass approxi - mately 838,628 s/f of class A logistics space to serve custom - ers seeking modern industrial space and convenient access to the Philadelphia market and major distribution networks throughout the Mid-Atlantic. “Northern Delaware contin - N
announced its expan - sion into the Washington, DC metro - politan mar - ket with the opening of a new office in Bethesda,
First Park New Castle
ues to be an attractive market for logistics users because of its strategic location with out - standing connectivity, including the I-95 corridor,” said John Hanlon , executive director, First Industrial Realty Trust. “We’re pleased to welcome our newest customer to First Park New Castle and appreciate the trust they have placed in us.” Located at the midpoint of the I-95 corridor between New York City and Washington, DC, the development offers convenient access to Rte. 13, I-95, I-295 and I-495, as well as the Delaware Memorial Bridge, the Port of Wilming - ton and a broad regional la - bor pool spanning Delaware,
Pennsylvania, New Jersey and Maryland. The new building will fea - ture modern specifications designed to support a wide range of logistics opera - tions, including 40-foot clear heights, ESFR sprinklers, abundant trailer and em - ployee parking, and efficient loading configurations. First Industrial would like to thank CBRE’s Dan Rat- tay and Colby Reeder for their assistance in leasing the project. Additional thanks go to Blue Rock Construc- tion, JVB Architect, LLC, and BL Companies for their partnership in delivering First Park New Castle. MAREJ
Dan Baker
MD. The organization’s entry into the market is anchored by the strategic recruitment of experienced local leaders who have spent their careers building major projects across the DMV. The move represents a sig - nificant milestone in IMC’s continued growth across the Mid-Atlantic and reinforces the company’s long-term com - mitment to serving one of the nation’s most active construc - tion markets. Building on the successful establishment of regional headquarters in New Jersey and Delaware, the Bethesda office will serve as a hub for clients throughout Washington, DC, Maryland and Northern Virginia. Leading the effort is a team of accomplished construction professionals with deep roots in the region and decades of experience delivering complex projects across healthcare, education, commercial, gov - ernment, cultural and senior living sectors. Clients will benefit from a leadership team that combines extensive local market knowledge and longstanding industry rela - tionships with IMC’s award- winning construction plat - form, technology resources and specialized expertise. “The Washington metropoli - tan area represents a tremen - dous opportunity, but we knew our success would depend on
Medical Pavilion I & II offers 190,000 s/f of class A space as regional vacancy tightens
more than 190,000 rentable s/f of class A medical office space in National Harbor, with built- out suites, structured parking, direct transit access and the ability to accommodate large healthcare users. The campus also benefits from National Harbor’s dining, hospitality, retail, parking and transit amenities, creating a convenient environment for patients, employees and health - care providers alike. “Not all medical real estate is created equal,” Papantoni - ou said. “Medical Pavilion I & II offers the quality, visibility and accessibility providers are seeking.” National Harbor continues to attract investment, including the planned East Coast Sphere entertainment venue and a $720 million mixed-use devel - opment that will add housing, retail and office space, expand - ing the area’s residential popu - lation and future patient base. As healthcare providers con - tinue expanding outpatient ser - vices throughout the Washing - ton metropolitan area, Medical Pavilion I & II remains one of the region’s few opportunities to secure large-format class A medical office space in a grow - ing mixed-use district. MAREJ
NATIONAL HARBOR, MD — Surging outpatient demand is tightening medical office markets across the country as construction pipelines stall and federal policy accelerates the shift from inpatient care. Washington, DC’s medi - cal office market reflects that trend, according to CoStar Group , with vacancy nearly 6.5 percentage points below the region’s traditional office mar - ket. Vacancy for multi-story, multi-tenant class A medical office buildings also improved, declining from 14% to 13.5%. National Demand Accelerates National outpatient occu - pancy topped 92.5% in the first quarter of 2026 while new medi - cal office construction remained near historic lows, according to Cushman & Wakefield and JLL . At the same time, federal policy continues shifting care to outpatient settings, prompting health systems to expand capac - ity despite capital constraints. “What we’re seeing in Wash - ington, DC is a local reflection of a national trend,” said Peter Papantoniou , principal at Gittleson Zuppas Papanto- niou Medical Realty , leasing broker for Medical Pavilion I & II at National Harbor. “Outpa - tient demand is growing faster
Medical Pavilion I & II
than new supply, keeping va - cancy low and rents strong.” “Our investment strategy has always focused on creating long-term healthcare destina - tions,” said Malika Peltier , managing director at Rethink Healthcare Real Estate . “Na - tional Harbor combines modern medical facilities, strong health system partnerships, accessibil - ity and a growing patient popu - lation, positioning the campus to benefit from the continued migration of outpatient care.” Washington, DC Market CoStar reports Washington- area medical office vacancy held at 11.7% during the first quarter of 2026 while rents rose 1.9% over the previous year, outpacing the broader office market. Health systems are also seeking larger multi- specialty clinics, increasing demand for modern class A outpatient space. Medical Pavilion I & II offers
Walton Global completes 33.17-acre land sale in Westphalia Town Center
PRINCE GEORGE’S COUNTY, MD – Walton Global sold 33.17-acres within Westphalia Town Center to Northpoint Realty Partners for development of Westphalia Logistics Center. Northpoint plans two ware - house buildings totaling 306,000 s/f. The adjacent par - cels, located along Presidential Parkway near Rte. 4 and I-495, are zoned for commercial and light industrial uses. Walton Global said the sale
reflects continued demand for well-located industrial sites in Prince George’s County. The project will add a commercial and warehouse component to the broader mixed-use Westphalia Town Center master plan. MAREJ Westphalia Town Center
Made with FlippingBook. PDF to flipbook with ease