NEWS & NOTABLES

WASHINGTON, DC–Thomas W. Toomey, CEO of UDR, has been named the new Global Chairman of the Urban Land Institute. Toomey, a longtime ULI member, ULI Trustee and ULI Foundation Governor, will serve a two-year term that ends June 30, 2019.

“What ULI brings to real estate is a global knowledge network that consists of our members, and that is unique,” Toomey said. “One of the most important things I can do as Global Chairman is help members take full advantage of ULI's vast knowledge base to strengthen the impact they are making in cities worldwide.”

During his term, Toomey plans to focus on several critical areas, including expanding ULI's advisory services program — ULI is aiming to further open the program to more members and more communities — and expanding ULI's membership to include more offerings for entire companies, rather than just individuals.

WASHINGTON, DC–Cushman & Wakefield has announced that Marshall Scallan has joined the firm to serve as managing director within its Capital Markets group. Scallan has worked for SunTrust Bank as Senior Vice President, and for CapitalSource LLC as an investment officer.

DEAL TRACKER

WASHINGTON, DC–Marcus & Millichap has announced the listing of 715 Florida Ave., a three-story, 8,035-square-foot retail asset located in the Shaw neighborhood. The two-tenant asset is currently listed for $5,811,960. Joshua Ein and Dean Zang, members of the TZD Retail Group of Marcus & Millichap, are marketing the property. The mixed-use building has frontage on Florida Avenue. Initially constructed in the 1920's as a Federal Life Insurance Building, the current owner has completely renovated the building to include a new roof, HVAC and electrical systems. The building is fully leased to two local restauranteurs, Capo Italian Deli, an Italian-style deli on the first floor and Takoda, an all-American Restaurant and year-round beer garden on the two and third floors.

WASHINGTON, DC–KLNB has announced today that Massage Envy's first franchised location in Washington, DC is opening at 4926 Wisconsin Ave NW in Tenleytown. This 3,000-square-foot lease is the first to receive a special exemption permit in the District. KLNB's Ben Becker represented the independent owner and operator of the DC Massage Envy in the deal and has brokered the deals for 53 other Massage Envy franchised locations throughout the Mid-Atlantic. KLNB will continue handling leasing for future locations as Massage Envy franchisees expand throughout DC.

CHEVY CHASE, MD––Federal Capital Partners is providing mezzanine financing for the development of Foundry Point, a 275-unit, Class A apartment community at 107 Brigade St in Charleston, SC. Construction will begin in July.

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Middle Market Digest: The Mid-Atlantic

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