CAMBRIDGE, MD–Dorchester County Economic Development has completed a fair market value assessment for 12 building lots at the Dorchester Regional Technology Park. The FMV is approximately $23,000 an acre and the total market value of the property is $1.28 million based on land plus site improvements including utilities, sidewalks, signage, and high speed broadband fiber, according to Lori Mrohs, a senior analyst at McCain & Assoc., which the economic development agency retained to conduct a regional market analysis. The economic development agency plans to start marketing the lots to end-users and developers now. The 113-acre Technology Park consists of 56 acres. Lots vary from 2.26 to 5.5 acres and average 4.7 acres.

NORTHERN VIRGINIA–On behalf of AJ Dwoskin & Assoc., JLL's Shawn McDonald and Anthony Hebenstreit secured $45 million for the refinancing of Tysons Glen, a 21-building, 343-unit apartment community in Falls Church. Affiliates of institutional advisor Hartford Investment Management Company provided a 25-year loan with a rate of 4.25%. McDonald and Hebenstreit also secured $20 million in refinancing for Stuart Woods Phase I, a 240-unit, 12-building apartment community located in Herndon. Affiliates of HIMCO provided a 20-year loan with a 4.01% rate.

GLENARDEN, MD–Nordstrom Rack has begun moving into its 30,000-square-foot store at the 140-acre, 700,000-square-foot mixed-use Woodmore Towne Centre developed by Petrie Richardson Ventures in 2010. This will be the first Nordstrom Rack in Prince George's County.

DEAL TRACKER

GLEN BURNIE, MD–The 209-unit garden property, Quarterfield Crossing at 400 Pamela Rd., has traded to Blackfin Real Estate Investors, for $19.4 million or $92,823 per unit. Quarterfield Crossing last traded in 2003 for $11.5 million when it was purchased for renovation. Blackfin launched last year, headed by Andrew Buchanan and Doug Root.

COLUMBIA, MD–Lee & Assoc. Maryland will provide asset management and leasing services for Melrose Holdings' Maryland Corporate Center, a four-building, 224,000 square foot commercial office portfolio located within the Lanham section of Prince George's County. Bill Harrison, Kate Jordan and Austin Eber will manage the marketing and leasing program, and Michelle Kimos will oversee the asset management strategy. Approximately 57% of the office space is currently available within the four-building portfolio.

CAMBRIDGE, MD–Dorchester County Economic Development has completed a fair market value assessment for 12 building lots at the Dorchester Regional Technology Park. The FMV is approximately $23,000 an acre and the total market value of the property is $1.28 million based on land plus site improvements including utilities, sidewalks, signage, and high speed broadband fiber, according to Lori Mrohs, a senior analyst at McCain & Assoc., which the economic development agency retained to conduct a regional market analysis. The economic development agency plans to start marketing the lots to end-users and developers now. The 113-acre Technology Park consists of 56 acres. Lots vary from 2.26 to 5.5 acres and average 4.7 acres.

NORTHERN VIRGINIA–On behalf of AJ Dwoskin & Assoc., JLL's Shawn McDonald and Anthony Hebenstreit secured $45 million for the refinancing of Tysons Glen, a 21-building, 343-unit apartment community in Falls Church. Affiliates of institutional advisor Hartford Investment Management Company provided a 25-year loan with a rate of 4.25%. McDonald and Hebenstreit also secured $20 million in refinancing for Stuart Woods Phase I, a 240-unit, 12-building apartment community located in Herndon. Affiliates of HIMCO provided a 20-year loan with a 4.01% rate.

GLENARDEN, MD–Nordstrom Rack has begun moving into its 30,000-square-foot store at the 140-acre, 700,000-square-foot mixed-use Woodmore Towne Centre developed by Petrie Richardson Ventures in 2010. This will be the first Nordstrom Rack in Prince George's County.