LUTHERVILLE, MD-Shopping center REIT Mid-Atlantic Realty Trust springs into action for the new year with the recent closing of a $100-million unsecured revolving line of credit, courtesy a six-bank syndication headed by Allfirst Bank. MART is expected to steer the funds towards acquisition and development projects.
TOWSON, MD-The 30,000-sf office structure at 17 West Pennsylvania hits the market and sells for $2.45 million. Built in 1985, the five-story building is fully leased and is valued at $1.9 million.
BALTIMORE-Shopping centers prove to be hot properties as three retail properties sell for a total of $27.4 million with the help of KLNB Retail's brokerage team. Located in and around Baltimore County, the shopping centers account for 260,000 sf. of retail space.
BETHESDA, MD-Popular eatery Sakura Steak and Seafood House spreads its wings even wider in the Baltimore-Washington region with the recent securing of leases on spaces in Westminster and Olney, MD. The restaurants account for a total of 12,000 sf and will open in April and July, respectively.
SUITLAND, MD-The new headquarters building for the National Oceanic and Atmospheric Administration edges closer to reality with the recent tapping of 3D/International Inc. as the project's construction manager. NOAA's new 208,000-sf home carries a $61-million price tag.
BALTIMORE, MD-Belair Edison Crossing retail center is in store for a massive revitalization that will cost as much as $10 million. B. Green & Co. Inc. and Black Oak Associates join forces to renovate the 16-acre property and add 35,000 sf.
BALTIMORE-First Union Tower--the 25-story, 380,0000-sf office structure that has held the address of 7 St. Paul St. since its 1985 completion--becomes the property of new owner Harbor Group International in a $50.2-million deal.
WASHINGTON, DC-Oncor International makes a move to beef up its mid-western presence with the recent appointment of Huff Commercial Group as its new Cincinnati-area affiliate. Huff replaces the Miller Valentine Group.
HERNDON, VA-The Food Lion grocery store-anchored McLearen Square shopping center hits the market and sells for $11.5 million. The 78,000-sf strip center was built in 1997 and is currently 100% leased.
ROCKVILLE, MD-The University of Maryland Biotechnology Institute gets good news with the governor's recent allotment of funding from the fiscal 2004 capital budget for the $50-million development of the Center for Advance Research in Biotechnology II.