Baltimore
Owings Mills Corporate Center I & II Aquired by BECO Management
Rockville, MD-based BECO Management, Inc. has announced on January 2 the acquisition of Owings Mills Corporate Center I & II, two properties in Owings Mills, MD that total more than 330,000 square feet of office space. The commercial real estate management company plans to invest significant capital in infrastructure, cosmetic and amenity improvements and has unveiled its 100-day action plan on January 8, 2013. Owings Mills Corporate Center I was built in 1987 while Owings Mills Corporate Center II was built a year later. The campus is home to a variety of corporate tenants such as Aon Corporation, BB&T, the Law Offices of Sheila Murthy, and CareFirst of Maryland. It is adjacent to the Owings Mills Mall and within walking distance of the Owings Mills Metro Station. I-95, I-695 and I-795 are also close by and downtown Baltimore is just 25 minutes away.
Picerne Military Housing to Build $72M Housing Complex at Fort Meade
Picerne Military Housing, a division of the Corvias Group, a privately-owned real estate firm, has announced on December 18 it has closed on a $72 million public-private partnership deal with the U.S. Army to build more than 1,400 garden-style apartments for junior enlisted single service members at Fort Meade, in Maryland. According to Picerne, this is the U.S. Army’s first-ever privately-developed, on-post apartment community for unaccompanied junior enlisted soldiers, sailors, airmen, marines and coast guardsmen.
ProMed Pays $22 Million for Part of Baltimore Building
ProMed Properties LLC, a wholly owned subsidiary of Gazit-Globe, recently purchased four floors of the Johnston Professional Building in North Baltimore. The New York-based company paid $21.75 million to buy a leasehold interest for the third, fourth, fifth and sixth floors of the eight-story building.
Modus Hotels Buys Baltimore’s Brookshire Suites
Modus Hotels, a full service hotel development and management company from Washington, D.C., has purchased Baltimore’s Brookshire Suites last week. It is Modus’ first hotel in downtown Baltimore and its third hotel acquisition of 2012.The Brookshire Suites is located immediately adjacent to Baltimore’s famous Inner Harbor
Chambers Street Properties Buys 801 KSF Warehouse in Greater Baltimore
Chambers Street Properties continues building up its industrial portfolio with the acquisition of an 801-square-foot Class A warehouse/distribution facility in a Baltimore suburb.
Grand Opening for Groveton Green, the First and Only LEED Gold Apartment Community in Owings Mills
Groveton Green Apartments held a grand opening ceremony on November 15 in Owings Mills. Baltimore County Executive Kevin Kamenetz, Councilwoman Vicki Almond, Councilman Ken Oliver and Reisterstown-Owings Mills-Glyndon Chamber of Commerce Executive Director Brian Ditto were among those present at the ribbon cutting ceremony.
PMC Acquires 301 North Charles Street for Apartment Conversion
PMC Property Group Inc. has closed on the acquisition of 301 North Charles Street. Kirby Fowler, President of the Downtown Partnership of Baltimore, announced the acquisition via Twitter. The building will be converted to apartments.301 North Charles Street is a 92,500-square-foot office building at the northeast corner of Saratoga Avenue. It was constructed in 1930 and served for a long time as the
Two Class A Industrial Buildings Sold in Baltimore
Hillwood Investment Properties, a Perot company, has announced the purchase of two Class A industrial facilities in Baltimore. Hillwood made the acquisition in a joint venture with Brookfield Asset Management.One of the properties is located at 451 Fletchwood Road, in Elkton, while the other is at 238 Belvidere Road in Perryville. Together the two properties total 1.8 million square feet. They have been built, managed and maintained to meet the highest institutional standards.
Baltimore Apartment Community Wins Top Honors at Three Award Ceremonies
The Arbors at Baltimore Crossroads in Baltimore recently won top honors at three award ceremonies. The luxury rental community was designed by KTGY Group, Inc., Architecture + Planning. It was developed by Somerset Construction Company and is managed by Bozzuto Management.
Inner Baltimore’s Harborplace Sold to Ashkenazy Acquisition Corporation
Mayor Stephanie Rawlings-Blake announced on October 23 that the Baltimore waterfront’s iconic Harborplace has been sold to the Ashkenazy Acquisition Corporation. The New York real estate investment firm acquired the Inner Harbor complex from General Growth Properties. The sale price was not disclosed and representatives from both companies declined to comment.