{"id":1004447995,"date":"2020-05-19T02:43:00","date_gmt":"2020-05-19T10:43:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004447995"},"modified":"2020-05-19T02:43:00","modified_gmt":"2020-05-19T10:43:00","slug":"merritt-properties-acquires-baltimore-area-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/merritt-properties-acquires-baltimore-area-office-campus\/","title":{"rendered":"Merritt Properties Acquires Baltimore-Area Office Campus"},"content":{"rendered":"<div id=\"attachment_1004448385\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004448385\" data-attachment-id=\"1004448385\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/merritt-properties-acquires-baltimore-area-office-campus\/lyndwood-executive-center-image-courtesy-of-merritt-properties\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg\" data-orig-size=\"550,412\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Lyndwood Executive Center. Image courtesy of Merritt Properties\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Lyndwood Executive Center. Image courtesy of Merritt Properties&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg?w=550\" class=\"wp-image-1004448385 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg 550w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004448385\" class=\"wp-caption-text\">Lyndwood Executive Center.<em> Image courtesy of Merritt Properties<\/em><\/p><\/div>\n<p>Merritt Properties has expanded its portfolio in Howard County with the purchase of Lyndwood Executive Center, a two-building <a href=\"https:\/\/www.commercialsearch.com\/news\/how-coronavirus-is-impacting-office-leasing\/\">Class A office campus<\/a> in <span class=\"LrzXr\">Elkridge<\/span>, Md. Merritt\u2019s leasing team told <em>Commercial Property Executive<\/em> that the seller was an affiliate of BentallGreenOak.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/how-covid-19-is-affecting-investment\/\">How COVID-19 Is Affecting Investment<\/a><\/p>\n<hr>\n<p>Located at 6085 and 6095 Marshalee Drive, Lyndwood Executive Center is 98 percent leased to 13 tenants that include software developer Ancile Solutions, website development firm Network Building &amp; Consulting and the Howard County Government. The 164,730-square-foot, three-story office buildings were designed in a campus-like setting that offers various floorplans to suit all types of tenant needs. Lyndwood Executive Center, which has achieved LEED Silver certification, also includes 788 parking spaces. The property is located by Route 100, with nearby access to Interstate 95 and Routes 29, 103, 104 and 108.<\/p>\n<p>Vince Bagli, who is part of Merritt\u2019s leasing team, said in prepared remarks that Howard County has been a strong submarket for the company and its industrial and mid-rise office portfolio. Bagli told <em>CPE<\/em> that Merritt is an opportunistic real estate company that is always looking for projects that complement its existing portfolio. Bagli added in his prepared statement that Lyndwood Executive Center fitted with the portfolio\u2019s other office properties including Columbia Corporate Park and Meadowridge that are also located in Howard County.<\/p>\n<p>Liz Tarran-Jones, who is also part of Merritt\u2019s leasing team, said in prepared remarks that Howard County attracts a highly educated labor force since it is located between Baltimore and Washington, D.C. She added in her prepared statement that the area can suit a variety of tenants including government, health-care, technology and education institutions.<\/p>\n<h2>Merritt\u2019s Maryland portfolio<\/h2>\n<p>Tarran-Jones also said in her prepared remarks that Merritt has 904,000 square feet of Class A office space leased to 126 tenants throughout the Maryland cities of Columbia, Elkridge and Ellicott City. Outside its 39 office properties in Maryland, Merritt also owns several office assets in Virginia and North Carolina.<\/p>\n<p>In November, Merritt also acquired a <a href=\"https:\/\/www.commercialsearch.com\/news\/merritt-properties-acquires-baltimore-area-office-asset\/\">vacant office building<\/a> in the Baltimore area from Greenfield Partners. Merritt plans to upgrade the property and achieve LEED Silver certification.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has purchased a pair of LEED Silver-certified Class A buildings in Elkridge, Md.<\/p>\n","protected":false},"author":883,"featured_media":1004448385,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21743,11,21742,21747],"tags":[46487,32779,35650],"class_list":["post-1004447995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-deals","category-midatlantic","category-latest","category-office","tag-bentallgreenoak","tag-leed","tag-merritt-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Merritt Properties Acquires Baltimore-Area Office Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/merritt-properties-acquires-baltimore-area-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Merritt Properties Acquires Baltimore-Area Office Campus\" \/>\n<meta property=\"og:description\" content=\"The company has purchased a pair of LEED Silver-certified Class A buildings in Elkridge, Md.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/merritt-properties-acquires-baltimore-area-office-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-19T10:43:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"550\" \/>\n\t<meta property=\"og:image:height\" content=\"412\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/merritt-properties-acquires-baltimore-area-office-campus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/merritt-properties-acquires-baltimore-area-office-campus\\\/\"},\"author\":{\"name\":\"Jackson Chen\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"headline\":\"Merritt Properties Acquires Baltimore-Area Office Campus\",\"datePublished\":\"2020-05-19T10:43:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/merritt-properties-acquires-baltimore-area-office-campus\\\/\"},\"wordCount\":368,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/merritt-properties-acquires-baltimore-area-office-campus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/05\\\/Lyndwood-Executive-Center.-Image-courtesy-of-Merritt-Properties.jpg\",\"keywords\":[\"BentallGreenOak\",\"LEED\",\"Merritt Properties\"],\"articleSection\":[\"Baltimore\",\"Deals\",\"Mid-Atlantic\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/merritt-properties-acquires-baltimore-area-office-campus\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/merritt-properties-acquires-baltimore-area-office-campus\\\/\",\"name\":\"Merritt Properties Acquires Baltimore-Area Office Campus - 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