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Real Estate Bisnow
The largest commercial real estate publication in the United States.
   
January 5, 2012 
 
 

SECRETS BEYOND

THE CBD


 
Blue-chip tenants are interested in more than just the CBD. The northern suburbs of Baltimore, like Towson, appeal to engineers, head hunters, call centers, insurance guys, and accountants both to live and to work. We don't know of any adult-size sandboxes, so the live-work-play triple threat is still up in the air.
 
Jim Caronna, Bill Miller, and Tom Maddux, December 2011

Disclosure: NAI KLNB's good-natured Jim Caronna, Bill Miller, and Tom Maddux had no idea they were being photographed. Bill tells us the 105k SF Foxleigh Building at the mixed-use Green Spring Station in Timonium is one example of suburban appeal. It's about relocating the business closer to home and upgrading office space. The landlord Bill reps there is not signing just any company but rather waiting for the right tenants to round out its white-collar pool, he says. Smith Barney, for example, has been there since the beginning in the late '80s and just renewed for another 10 years. He also says several Hunt Valley deals near closing will take a fair amount of space off the market.

 
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Jim Caronna, December 2011

Jim tells us the industrial property up north around I-83 is slowly converting to other uses (pssst, like office). Restoration Hardware's 1.2M SF warehouse lease Northeast of Baltimore, along I-95, still makes sense. That industrial corridor is going strong, with plenty of developable land. 95 heads northeast to Boston, New York, and Philly, of course, but access to DC and Virginia via 95 SW is what makes Harford and Cecil counties better options than New Jersey for distribution hubs. And other companies, like Procter & Gamble and Ikea have located there, too, Jim says.


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FROM ONE REIT TO ANOTHER
 
10001 Franklin Square Drive, White Marsh
Another COPT industrial building has sold: Denver-based Industrial Income Trust bought White Marsh's 219k SF 10001 Franklin Square Drive, which takes up 12 acres and comes with another 13 that can handle a 220k SF building. Cushman & Wakefield’s Cris Abramson, Brian Kruger, Nick Signor, Michael Elardo, and Chris Wright repped COPT.
Rich Thomas, Jon Casella, Chris Wright, Jared Ross, Whitney Nye, Ben Meisels, Nick Signor, Jackie Hamilton, Tim Jackson, Karen Cherry, Courtenay Jenkins, Michael Elardo, Brian Kruger, Kyle Durkee, Danielle Schline, Hayes Merkert, and Bob Millhauser

Cushman staffers also transfered some food recently, helping the Maryland Food Bank pack 16,184 pounds (12,449 meals) the day they were there, 3,000 pounds above C&W's record. You've got the good Will Hunting and his 12 brothers beat if you can repeat these names without looking: Rich Thomas, Jon Casella, Chris Wright, Jared Ross, Whitney Nye, Ben Meisels, Nick, Jackie Hamilton, Tim Jackson, Karen Cherry, Courtenay Jenkins, Courtenay's daughter and her friend, Michael, Brian, Kyle Durkee, Danielle Schline, Hayes Merkert, and the retired-but-still-has-a-big-heart Bob Millhauser. And these were just some of the C&W-ers there.


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NAIOP MD'S NEW CHIEFS
 
Dianna Wilhelm

Wilhelm Business Enterprises prez Dianna Wilhelm is now also president of NAIOP Maryland. Other new officers: president-elect James Knott of the James F. Knott Realty Group, VP Jerry Wit of St. John Properties, secretary and treasurer Christopher Nevin of BB&T, past president Robert Bavar of Bavar Properties Group, and second immediate past president Cole Schnorf of Manekin (you can check out, but you can never leave).


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AIRPLANE WATCHING
 
Airport Overlook, 785 Elkridge Landing Road, Linthicum
Out in Linthicum, Brickmill Marketing has leased 11,500 SF in BECO Management's Airport Overlook at 785 Elkridge Landing Rd. Cushman's Danielle Schline repped the tenant, and Kris Broder repped BECO internally. The 36k SF building thinks big with a new gym and what the landlord calls a Living Room. We presume it's where all the tenants gather to hear speeches from FDR.
 
For an awkward seven minutes of every afternoon, the sun reflects off the windows of the building facing our desk just right, and it always seems to happen right at deadline, when there's no time to move an inch, let alone take a breather. Email amanda.metcalf@bisnow.com.
 
 
 
 
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