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McCormick to Build New Headquarters in Hunt Valley

8 May 2015, 8:00 am

By Adrian Maties, Associate Editor

McCormick & Company, Incorporated is not leaving Baltimore County and the state of Maryland. At the end of April, the company announced that it has selected the site for its new headquarters. The facility will be located at 99 Shawan Road in Hunt Valley.

The spice manufacturer was founded in 1889 in Baltimore. It has been headquartered in the Sparks-Hunt Valley area for more than 40 years,  so its decision to remain here is seen by many as a major win for both the region and the state, as it maintains a total of 2,100 McCormick employees in Baltimore County. More than 900 of these employees will work in the new headquarters. They are currently located in several other buildings, in Hunt Valley and Sparks. McCormick said that, before choosing the Hunt Valley site, it considered other locations in Maryland, Virginia and Pennsylvania.

Over the next several months the company will look to finalize an agreement for the 20-acre site. 99 Shawan Road is currently home to a building owned by Verizon. Together with its development partners, Greenfield Partners LLC, McCormick will refurbish the entire building and landscape. According to The Baltimore Business Journal, the project will cost about $100 million. It will create an attractive campus, with a six-story, 320,000-square-foot building and surface parking. The headquarters will also be LEED Gold certified.

McCormick plans to move into the new building in mid-2018.

Photo credit: McCormick & Company, Incorporated

Castle Lanterra Unveils New Details for its 222 Saratoga Apartment Project In Baltimore

7 May 2015, 8:06 am

By Adrian Maties, Associate Editor

At the start of the year, Castle Lanterra Properties entered the Baltimore market with the purchase of the apartment building at 222 E. Saratoga Street from RWN Development Inc., for $13.5 million. At that time, the New York-based company said it planned to improve the property. Now, it has revealed more details about the project.

In a news release, Elie Rieder, founder and CEO of Castle Lanterra, said that 222 Saratoga was originally constructed as an all-concrete bomb shelter, at the start of the last century. It later became a warehouse, and, finally, an apartment building, in 2004.

The nine-story elevator building offers 80 one- and two-bedroom units. These are some of the largest apartments in the submarket, ranging in size between 1,100 and 1,600 square feet of space. And the owner also said that more units can be added to the property, by repurposing and reconfiguring the existing space.

According to Elie Rieder, Castle Lanterra will enhance the on-site amenities and add a sizable fitness center, a lounge, a business cafe and a large leasing office. The property already features an underground parking lot.

Castle Lanterra did not reveal how much it plans to invest in the project or a timeline for construction.

U.S. Lacrosse Breaks Ground on $15M Headquarters in Sparks

6 May 2015, 8:03 am

By Adrian Maties, Associate Editor

U.S. Lacrosse has finally started work this month on its new national headquarters complex. The project is being developed in Sparks, a community in Baltimore County. It will cost $15 million.

The official groundbreaking for the project was held on Thursday, April 23. Numerous officials, donors and lacrosse fans were present at the event. They celebrated both the start of construction for the new U.S. Lacrosse HQ and what is considered Maryland’s official team sport.

U.S. Lacrosse’s current headquarters is located at 113 West University Parkway in Baltimore. It has become obsolete and is currently unable to accommodate the association’s growing staff.

The new complex will be located at York Road and Loveton Circle, on a 12-acre site, which U.S. Lacrosse purchased in 2012, for $4.5 million. Plans call for the construction of a three-level, 45,000-square-foot building, an exhibition and training field and and a 500-seat spectator area. The Gilbane Building Co. is constructing the project. Rubeling & Associates, Inc. was the architect.

U.S. Lacrosse plans to move in next spring. It will bring about 70 employees to Sparks. The new facility will not only serve as the association’s headquarters, but it will also house the Lacrosse Museum and National Lacrosse Hall of Fame.

Photo credit: U.S. Lacrosse

MCR Development Completes another Hotel Renovation in Greater Baltimore

5 May 2015, 8:00 am

By Adrian Maties, Associate Editor

MCR Development, one of the largest hotel owner-operators in the country, has completed the renovation of a Greater Baltimore area hotel in April. The TownePlace Suites by Marriott Arundel Mills BWI Airport is now ready to receive guests.

The hotel has 109 suites, all with fully equipped kitchens, flat screen TVs and high speed internet. It is located at 7021 Arundel Mills Circle in Hanover, close to many of the area’s major employers and just four miles from Baltimore/Washington International Thurgood Marshall Airport.

The TownePlace Suites by Marriott Arundel Mills BWI Airport represents the eighth hotel renovation project completed by MCR in the Baltimore area within the last 10months. It called for updates to the hotel’s lobby, the installation of new light fixtures and the addition of updated signage on the property’s exterior. The owner also added contemporary artwork throughout the lobby and common areas. MCR did not reveal how much it spent on the project.

According to Marcus & Millichap, the hospitality market in the Mid-Atlantic region, an area consisting of Delaware, the District of Columbia, Maryland, Virginia and West Virginia, recorded respectable gains during 2014. This trend is expected to continue into 2015 and bring even higher room demand and revenue. Marcus & Millichap  also reports that revenue per available room will climb in the Mid-Atlantic area this year to $76.84, with regional occupancy reaching 63.6 percent, after a rise of 90 basis points.

Charts courtesy of Marcus & Millichap.

Wood Partners to Build 230-Unit Mixed-Use Community in Columbia

4 May 2015, 2:59 pm

By Adrian Maties, Associate Editor

Wood Partners, LLC is bringing 230 much-needed apartments to downtown Columbia. The Atlanta-based real estate company said it will break ground this month on a new mixed-use community in the area. Called Alta Wilde Lake, it will be a key component of the redevelopment at Wilde Lake Village Center.

The project will cost approximately $45 million. It was designed by JDavis Architects. Wood Partners will develop it on a 2.79-acre site, at 5420 Lynx Lane. The new community will consist of two, five-story apartment buildings. They will be connected by a three-level sky bridge over Lynx Lane. Besides the 230 apartments, Alta Wilde Lake will also feature approximately 5,000 square feet of ground-floor retail space, as well as numerous other amenities, including a clubhouse, business center, a pool and a state-of-the-art fitness center. Wood Residential Services will manage the new community.

The apartments are expected to be available for lease in the summer of 2016. Scott Zimmerly, director of the Mid-Atlantic Region for Wood Partners, said in a news release that very few projects are slated for delivery in the area over the next 36 months. He added that, as occupancy tightens, rents are likely to continue to grow this year.

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