Mid Atlantic Real Estate Journal — August 17 - 30, 2012 — 19A 17-acre parcel on Rte. 273 in New Castle, DE EmoryHill breaks groundon Seeds of Greatness Church
www.marejournal.com
For Cavalier Center in Charlottesville, VA NorthMarqCapital facilitates $3.6 million mortgage
C
harlottesville, VA — Ryan Whitaker, vice president of North-
Marq’s Jacksonville Regional office, arranged first mortgage refinancing of $3.6 million for the Cavalier Center, a 27,606 s/f retail center located in Charlottesville. Financing was based on a 10-year term and a 20-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life insurance company. This asset is a two-ten- ant retail property leased to World Market and PetCo and Shadow-anchored by a Best Buy. The largest tenant’s lease expired during the loan term. “The lender was able to get Pike Creek, DE –Account- ing firm Wheeler, Wolfenden & Dwares has renewed its lease in Pike Creek, continuing their commitment to Delaware and its surrounding communities. Whee l e r, Wo l f enden & Dwares, P.A., Certified Pub- lic Accountants, is an estab- lished business consulting firm celebrating over 14 years in Delaware. The firm has offices in Wilmington at 4550 New Linden Hill Rd., Suite 201 which was just renewed and in Lewes at 17577 Nassau Com- mons Blvd. David Wolfenden, CPA, CVA, HERNDON, VA — Linden Resources has renewed its lease totaling 50,664 s/f at an industrial building in Herndon. Jon Lawrence and Michael Stuart of Cushman&Wakefield represented landlord OTR, an institutional pension fund. Linden Resources has re- newed at 13882-13886 Redskin Dr. and 13890-13094 Redskin Dr. The tenant was represented in the transaction by Sean Weidlein of CBRE. “Both of the Redskin Drive
Seeds of Greatness Bible Church
NewCastle, DE—Con- struction manager Emo- ry Hill & Company broke ground on the new Seeds of Greatness Bible Church on a 17-acre parcel on Rte. 273 across the street from the Farmers Market in New Castle.
“We’ve gotten to the point where we’re maxed out on all the things we can do in the space we’re in and we want to do a lot more than can be accommodated in our cur- rent location,” said Robert Hawkins, Seeds of Greatness building project director. n
PetCo at Cavalier Center
comfortable with the lease rollover due to experienced
sponsorship and an excellent location,” said Whitaker. n
NAI Emory Hill renews lease for Wheeler, Wolfenden & Dwares in Pike Creek, Delaware
Greysteel’s Firoozabadi leads multifamily team in $1.185m sale in Washington, DC
Washington,DC—The Greysteel Company’s mul- tifamily team led by Ari Firoozabadi congratulates
Goldsten Brothers Real Es- tate, LLC on the successful sale of Street, SE to Street Partners, LLC. n
Valuation Analyst and he was elected as president of the com- mittee of 100 for a term of two years. “The people at Emory Hill really know all the ins and outs of real estate locally and continue to meet all of our needs,” Wolfenden said. “They sharpened their pencils and found a solution that will see us into the future. They are a great source of commercial real estate expertise and advice.” NAI Emory Hill principal Paul Bryant executed the 8,215 s/f transaction on behalf of building owner The Common- wealth Group. n
First Potomac Realty Trust signs four leases totaling 49,308 s/f at Three Flint Hill
Oakton, VA — Fi rst Potomac Realty Trust an- nounced the signing of four new leases, totaling 49,308 s/f, at its award-winning Three Flint Hill property in Oakton. “Three Flint Hill is a great example of First Potomac’s strategy of maximizing value- add opportunities in our port- folio. When we redeveloped the property, our goal was to attract both established and entrepreneurial tenants withmodern, energy efficient, first-class facilities that pro- vide a platform for long-term success. And that is exactly what has happened,” said Douglas Donatelli, chairman and CEO of First Potomac Realty Trust. The property, which de- livered eight months ago, is now 51% leased. The recent transactions include: Chadwick, Washington, Mo- riarty, Elmore & Bunn, P.C., a law firm concentrating its real estate practice in the rep-
resentation of condominium associations, property owners associations and other com- mon interest communities, has leased 17,640 s/f under a multi-year lease term. A. J. Dwoskin &Associates, a commercial and residential real estate development and management company, relo- cating its corporate office to Three Flint Hill, signed a ten year lease for 14,300 s/f. Stratford University, a pri- vate educational institution that offers associates, bach- elor’s and master’s degrees, will occupy 14,312 s/f for eight years. Ameriprise Financial, a leading financial services company, is relocating its Hunters Branch office to Three Flint Hill and will occupy 3,056 s/f for eight years. The property is the first redeveloped office building in the Oakton, Virginia sub- market to earn LEED Gold certification. n
MS, president of Wheeler, Wolfenden & Dwares, was recently in the news: he com- pleted the certification process with the National Association of Certified Valuators and Analysts (NACVA) to earn his designation of Certified David Wolfenden Paul Bryant
Cushman & Wakefield inks 50,664 s/f industrial renewal; CB Richard Ellis represents tenant, Linden Resources
Redskin Dr.
addresses are in one building, and the renewal encompasses
two blocks of space within that building,” said Lawrence. n
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