NEWS & NOTABLES

BALTIMORE, MD– JLL has hired retail brokers Jeff Bach and Joe Botzler as a managing director and a VP, respectively. The team will work with JLL's Mid-Atlantic tenant reps. They will also partner with retail investment sales expert Bill Moylan and retail property management led by Tim Hearn. Bach and Botzler have joined from CBRE's retail team in Baltimore.

DEAL TRACKER

DULLES, VA–Matan Cos. has purchased a second 10-acre industrial site on Maries Road within its new industrial complex Dulles North Industrial Park. The first 154,125-square-foot spec industrial building will deliver in April 2018. Matan will begin construction on the second spec building totaling 138,500 in April and deliver it in December 2018. John Dettleff and Dan Costs of JLL will assist Matan in the leasing efforts for both buildings. “In addition to Dulles North Industrial Park's industrial viability, interest from data centers has been very high,” Dettleff said in a prepared statement. “The park can accommodate their power needs, sits on top of seven unique fiber lines, and it is adjacent to four data centers, including Cyrus One and Digital Realty Trust.”

FALLS CHURCH, VA–Marcus Partners has acquired 3170 Fairview Park, a 275,000 square foot office complex formerly owned by CSRA. The deal was a sale-leaseback; CSRA will continue to occupy a portion of the property, while leaving approximately 100,000 square feet available for lease. Leasing efforts at the property will be led by Ed Clark, Andrew Klaff, Stephen Hoffeditz, and Jeff Tarae of Newmark Knight Frank.

BETHESDA, MD–Walker & Dunlop has structured a $61 million HUD loan for Monarch at Waugh Chapel, a multifamily project that is a joint venture between Bozzuto Development Co. and Reliable Contracting. It will be located in Gambrills, Md. W&D's Dee McClure led the team in arranging the loan via HUD's 221(d)(4) new construction program, which provides both construction and permanent financing within a single loan structure. The financing consisted of a two-year construction term followed by a permanent, 40-year loan with a fixed rate. Monarch is part of the Waugh Chapel master-planned community along the intersection of Crain Highway (U.S. Route 3) and Evergreen Road.

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