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Brendan Gill
MacKenzie Commercial's Brendan Gill (we'll explain the oyster cages in a bit) tells us private equity is stepping into the vacuum left in secondary/tertiary markets as REITs refocus on core properties (read: primary markets). Areas of the Baltimore metro are looking like value-add plays for the private players, which are picking up big swaths at low prices per SF, he says, adding that the tactic can yield big returns but requires big investments. Above, Brendan, who's been NAIOP Maryland?s community service committee head since '09, collects oysters with the Chesapeake BaySavers to move them to oyster sanctuaries in the Severn River and Spa Creek, helping ensure their longevity. (No word on whether Brendan plans some moves in the seniors housing for oysters market.) Next up, NAIOP Developing Leaders head to Paul?s Place at 1118 Ward St tomorrow for five hours of serving hot meals and landscaping.
Odenton Gateway MOB rendering
Brendan also tells us MacKenzie?s third-party property management platform is powering up. It just landed a gig handling 1M SF for one of those private equity players. It'll also manage the $14M, 60k SF Johns Hopkins and Anne Arundel Health System JV MOB in Odenton (above), which will deliver around the end of the year (Jeep Wrangler not included).