NEWS & NOTABLES
BALTIMORE, MD–JMG Realty, headquartered in Atlanta, has been selected to manage the six-asset, $236 million multifamily portfolio Ares Management and TruAmerica Multifamily acquired last month in the area. There are six apartment buildings in the portfolio: Dominion at Eden Brook and Dominion Kings Place in Columbia, Lakeside Mill in Owings Mills, Ellicott Grove in Ellicott City, Arborview at Riverside and Liriope in Belcamp, Dominion Constant Friendship in Abingdon. This is a value-add play for the buyers, with half of the units slated for renovation.
WASHINGTON, DC– Rock Creek Property Group has broken ground on the restoration of the Codman Carriage House in Dupont Circle located at 1415 22nd St, NW. Architect Ogden Codman, Jr. originally designed the carriage house for his socialite cousin, Martha Codman, who spent the winters in the District in her nearby mansion and used the carriage house for her stable as it was near the entrance to Rock Creek Park. As part of the restoration, the original carriage house doors will be replicated, the façade repaired, certain windows will be restored and others replaced. The 10,000-square foot, two-story building is scheduled to deliver in April 2017. It could serve as a retail use or for office tenants looking for loft space in a restored historic building.
DEAL TRACKER
SILVER SPRING, MD–ProMark and Montgomery County have delivered an office-to-condo conversion project at 1320 Fenwick Lane. Called Octave 1320, the 102 unit building has delivered early with 90% of the condos sold. Two years ago, Montgomery County invested $4.1 million with ProMark Real Estate Services to convert the 1964 office building located at the site into a condo project aimed at first-time home buyers.
VIENNA, VA–J Street Cos. has signed six leases totaling 17,258 square feet at Tycon I located at 8320 Old Courthouse Rd. George Voris and Andy Wolf led the leasing team for the transactions. Tycon One is a 90,000 square foot, five-story office building built in 1978.
RICHMOND, VA–JLL has completed several transactions in the Richmond market totaling 78,996 square feet. Transactions included:
· Omnicare leased 15,920 square feet at 1500-1590 Parham Rd. John Simmons, and Scott Harrison represented the tenant.
· The Stantec Co. leased 10,700 square feet at 1011 Boulders Springs Dr. Adam Lawson represented the tenant.
· Vandeventer Black leased 9,764 square feet at 901 E. Byrd St. Charles Polk and Ned Roberts represented the tenant.
· VA Baptist Homes leased 8,861 square feet at 3961 Stillman Pkwy. Polk and Gareth Jones represented the building owner.
· NFM leased 4,760 square feet at 1512 Willow Lawn Dr. Scott Harrison represented the building owner.
NEWS & NOTABLES
BALTIMORE, MD–JMG Realty, headquartered in Atlanta, has been selected to manage the six-asset, $236 million multifamily portfolio Ares Management and TruAmerica Multifamily acquired last month in the area. There are six apartment buildings in the portfolio: Dominion at Eden Brook and Dominion Kings Place in Columbia, Lakeside Mill in Owings Mills, Ellicott Grove in Ellicott City, Arborview at Riverside and Liriope in Belcamp, Dominion Constant Friendship in Abingdon. This is a value-add play for the buyers, with half of the units slated for renovation.
WASHINGTON, DC– Rock Creek Property Group has broken ground on the restoration of the Codman Carriage House in Dupont Circle located at 1415 22nd St, NW. Architect Ogden Codman, Jr. originally designed the carriage house for his socialite cousin, Martha Codman, who spent the winters in the District in her nearby mansion and used the carriage house for her stable as it was near the entrance to Rock Creek Park. As part of the restoration, the original carriage house doors will be replicated, the façade repaired, certain windows will be restored and others replaced. The 10,000-square foot, two-story building is scheduled to deliver in April 2017. It could serve as a retail use or for office tenants looking for loft space in a restored historic building.
DEAL TRACKER
SILVER SPRING, MD–ProMark and Montgomery County have delivered an office-to-condo conversion project at 1320 Fenwick Lane. Called Octave 1320, the 102 unit building has delivered early with 90% of the condos sold. Two years ago, Montgomery County invested $4.1 million with ProMark Real Estate Services to convert the 1964 office building located at the site into a condo project aimed at first-time home buyers.
VIENNA, VA–J Street Cos. has signed six leases totaling 17,258 square feet at Tycon I located at 8320 Old Courthouse Rd. George Voris and Andy Wolf led the leasing team for the transactions. Tycon One is a 90,000 square foot, five-story office building built in 1978.
RICHMOND, VA–JLL has completed several transactions in the Richmond market totaling 78,996 square feet. Transactions included:
· Omnicare leased 15,920 square feet at 1500-1590 Parham Rd. John Simmons, and Scott Harrison represented the tenant.
· The Stantec Co. leased 10,700 square feet at 1011 Boulders Springs Dr. Adam Lawson represented the tenant.
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· VA Baptist Homes leased 8,861 square feet at 3961 Stillman Pkwy. Polk and Gareth Jones represented the building owner.
· NFM leased 4,760 square feet at 1512 Willow Lawn Dr. Scott Harrison represented the building owner.
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