Mr. Michael at Business Hall of Fame

Business Hall of Fame Inducts NAI Michael’s Kenneth H. Michael

Company News

Business Hall of Fame recognizes Kenneth H. Michael’s business and community contributions.

NAI Michael’s Chairman, Mr. Kenneth H. Michael, was inducted into the Maryland Chamber of Commerce’s Business Hall of Fame last week. This is an immense, well deserved honor that recognizes his lifetime of successes throughout the great state of Maryland. Mr. Michael founded The Michael Companies (now NAI Michael) in 1973 and has grown it into the prominent commercial real estate firm that it is today. He has passed the company down to his two sons, Gary and David, while still remaining an active leader in the commercial real estate and development industry.

We at NAI Michael are extremely happy for him and proud of his achievements. Mr. Michael’s unparalleled dedication to our company and our community make him a strong business leader for all to emulate.

He can connect with everybody, and that’s a gift… It’s not just real estate. When he gets to know people and creates a relationship, he’s with them ’til the end. – David Michael

As part of the awards ceremony, the Chamber produced a retrospective video on Mr. Michael’s career and growth into the captain of industry he is today. Please take a moment to watch the video and join us in congratulating Mr. Michael on his award!

Inaugural Creating Kingdom Buildings Conference Organizers

Inaugural Creating Kingdom Buildings Conference Gathers Real Estate Industry Leaders to Teach Pastors How to Build Their Houses of Worship

Company News

by Marcus Daniels

The Inaugural Creating Kingdom Buildings Conference brought together industry leaders in real estate, civil engineering, zoning & land use, architecture, construction, finance and risk management in the Washington Metropolitan Area to educate the faith community on how to successfully grow and build their houses of worship.

Over 200 attendees representing more than 100 churches gathered at The Sanctuary at Kingdom Square in Capitol Heights, MD on Saturday, April 30th. They learned more about the building process for houses for worship, identifying their congregations’ needs for space, assembling a project team, preparing their finances, determining the right location,  hiring the architect & contractor, maintaining the property and managing the risks associated with their property. With seminars and speakers on how to acquire, create and maintain optimal worship spaces, the conference featured speakers from NAI Michael, Linowes and Blocher LLP, Ben Dyer Associates Inc., EagleBank, Industrial Bank, Arel Architects, SAA Architecture and more.

NAI Michael was a Platinum Sponsor of the Creating Kingdom Buildings Conference and Ed Luckett and Marcus Daniels participated in the Site Selection panel discussion as panelists and moderators respectively.

To learn more about the Creating Kingdom Buildings Conference, please visit www.collectiveempowermentgroup.org.

To sign up for next year’s conference, please contact Ed Luckett and Marcus Daniels at 301-459-4400.

 

New and ongoing development projects - Riverdale Park Station

State of the Economy Previews New and Ongoing Development Projects in Prince George’s County

Market Insight

There are a number of new and ongoing development projects that are contributing to economic development in Prince George’s County, according to the 2016 Prince George’s County State of the Economy Address that NAI Michael had the pleasure of attending on April 13, 2016.

Many new and ongoing development projects were highlighted during the State of the Economy for Prince George’s County. County Executive Rushern L. Baker III, Jim Coleman of the Prince George’s County EDC, Derrick L. Davis of the County Council, and Jim Estepp of the Prince George’s Business Roundtable all spoke about the transformation and re-envisioning of the County. In fact, Baker said that there are more than $7 billion worth of projects in the pipeline, including:

In addition to the new and ongoing development projects, it has been a great year for new retail in Prince George’s County. Many national businesses are set to open new doors in the County. They include Harris Teeter, Krispy Kreme, Dave & Buster’s, and Nordstrom Rack.

New Carrollton is also in position to become a new transportation hub, or Prince George’s County’s version of Union Station. The area around the Metro will be redeveloped with high-end apartment buildings and new retail. It will be anchored by 2U, an education-focused company that is expected to grow to over 1,000 employees in the next few years.

Interested in Retail Opportunities? Contact Us.

All of this activity will lead to new interest in Prince George’s County, for everything from office space to land for mixed-use communities. Expect to see many more changes coming to the county in 2016!

Washington Food and Supply

Washington Food and Supply Relocates to Prince George’s County

Deals & Transactions

Washington Food and Supply, a wholesale grocer, has relocated its warehouse to Prince George’s County from their Florida Market location in the District of Columbia.

Washington Food and Supply, Inc. recently moved into a warehouse at 6300 Columbia Park Road in Landover, Maryland. Maryland Newsletters has provided details about the transaction, which can be found below.

County Gains DC Tenant

Food Supplier Left ‘Market’

Redevelopment at the Union Market in D.C. has pushed a major tenant into Prince George’s County. In a deal newly closed, Washington Food & Supply Inc. has leased 136,860 square feet at 6300 Columbia Park Road in Landover. (The tenant is commonly known as Washington Cash & Carry). In moving to space that has long housed Safeway products, the deal is particularly good for Exeter Property Group. The developer has recently put 6300 Columbia Park Road on the market in a package with several other county buildings; now it has a long-term lease sewn up. But on a broader scale, the Food & Supply deal makes it one of the biggest relocations out of Union Market and into the county yet. Re-development in the Market, driven by big firms like Edens, has pushed long-time food distributors out, and, developers here hope, into Prince George’s. County economic development officials went proactive on the prospect of bringing in the businesses, including hosting a get-together for Union Market tenants and packaging loans and grants for moving across the City line, and it appears to be paying off. A company called Solid Gold Trading had already reportedly made the move, in relocating t0 6001 Columbia Park Road in Landover. Lance Schwarz and Peter Burleigh of NAI Michael represented Exeter, while Joe Palermo of the same firm represented Washington Food.

If you are interested in subscribing to the Maryland Newsletters, please visit their website at marylandnewsletters.com.

2015 Industrial Market Report

2015 Industrial Market Year End Wrap-Up!

Market InsightMarket Reports

The Prince George’s County 2015 industrial market grew, with many new facilities delivered and new tenants coming into the market. We review the 2015 industrial market and look ahead to what 2016 will hold for the county.

The 2015 industrial market was rife with new inventory in Prince George’s County. Over 900,000 SF of new, class A facilities came to the market, including Cabin Branch Industrial Park, Andrews Federal Campus and Collington Park. Tenants are starting to make the switch from class B and C space into better class A space. Also, we are seeing many northern Virginia tenants moving into Prince George’s County, which has more affordable rental rates. The increase in demand led to positive tenant absorption and a 5.5% increase in rental rates on average.

In Prince George’s County, there are seven primary class A industrial projects which could be viable for a large industrial user. These include SteepleChase 95, Cabin Branch Industrial Park, Andrews Federal Campus, the Brick Yard, and Collington Park. This class A space will be in high demand during 2016 and is expected to be fully absorbed over the next 36 months.

Interested in reading more about the 2015 industrial market in Prince George’s County? Check out the full report here.

By Lance Schwarz & Peter Burleigh

 

Hiring a Commercial Agent

5 Great Benefits of Hiring a Commercial Agent

Market Insight

As a property owner, you may wonder if there are benefits to hiring a commercial agent and how they can help you. Highlighted below are five reasons hiring a commercial agent can help you sell or lease your property.

By Andy Mayr, CCIM

1. Employ an Expert: Typically, property owners (both sellers and landlords) do not have the experience of a professional real estate agent and could turn to hiring a commercial agent to help them sell and/or lease their property. Commercial agents (or commercial real estate brokers) can walk through a property and see right away what needs to be done in order to get a deal completed. Agents can recommend relatively simple improvements to a property that can help a space sell or lease faster and for a higher price. In many cases, property owners are so used to seeing their property that they will likely not realize what changes can be made to improve their property. 

2. Use of Sales Tools: Commercial real estate agents have a number of professional tools at their fingertips that can get your property exposed to a myriad of prospects. These tools include searchable databases, such as Costar and Loopnet, that have far-reaching access and can get your property in front of potential purchasers, tenants, and other brokers throughout the country. Property owners do not have access to these services unless they pay a very big subscription fee, but commercial brokers use these tools on behalf of their clients.

3. Avoid Legal Issues: Hiring a commercial agent can also protect property owners from potential litigation. There are all kinds of liability issues that sellers and landlords could face when dealing one-on-one with a buyer or tenant.  Agents, who have experience dealing with these liability issues, can help property owners avoid such scenarios.   

4. Save Time and Energy: Property owners might not have any idea whom they are dealing with when it comes to the financial capabilities of a potential purchaser or tenant. Commercial brokers have the necessary experience to examine the prospects to determine if they have the credit and financial capabilities required to make the purchase or lease. This saves property owners from potentially wasting time and energy dealing with bad credit prospects.

5. Avoid Yourself: It is a buyer’s (or tenant’s) market out there and with all the information available online, they can be tough negotiators. Hiring a commercial agent can help you negotiate the best deal. Experienced commercial agents have been through the process numerous times and are trained in negotiating tactics giving them a potential edge in working out a deal in the property owner’s best interest. As an owner, it is difficult to do that with your property, particularly if you are anxious to sell or lease your space. The prospect can get feedback just by observing an owner’s facial expressions, body language and speech. It is best to avoid this! Commercial brokers provide an extra barrier between the owner and prospect, which helps with negotiations.

Andy Mayr is Senior Vice President at NAI Michael and has been working with us since 1989. He has a wide breadth of commercial real estate knowledge and experience, having completed over 1,000 transactions.

Cabin Branch Distribution Center

Say Hello to the New Cabin Branch Distribution Center

Deals & Transactions

Cabin Branch Distribution Center’s new buildings kick off with a new lease.

Cabin Branch Distribution Center, owned and developed by PacTrust,  recently brought two brand new warehouses to the Prince George’s County industrial market. The class A buildings were completed in fall 2015, and have seen a high amount of interest from the commercial real estate community.

Leasing activity has already begun! Over 50,000± square feet of space has been leased to the U.S. Government. Lance Schwarz and Peter Burleigh of NAI Michael brokered the deal.There is still space available in the first building, 1503-1509 Cabin Branch Drive. The second building, 1511-1517 Cabin Branch Drive, is 130,000 square feet and entirely available. If you are interested in learning more about the available warehouse space, please click here or contact Lance Schwarz and Peter Burleigh at (301) 459-4400. Regarding the industrial market in the area, Lance states:

Industrial space in close proximity to Washington, DC continues to be in high demand.

This makes Cabin Branch Distribution Center ideal for businesses looking to serve the Washington DC industrial market. Cabin Branch is situated near Route 50 in Landover, Maryland and has quick access to the Capital Beltway.

 

Meso Scale Expands into Gaithersburg, MD

Deals & Transactions

Meso Scale now has one address that is not on Research Boulevard. The biotech company, securely located in multiple buildings on Research, signed a deal to expand into 33,338 square feet recently at 9120-9128 Gaither Road in the Shady Grove Development Park. Landlord Minkoff Development had to do some major space planning to accommodate the firm, but it found the room by moving 20,000 foot tenant Human Circuit to another space in the Gaithersburg park. Meso rocketed onto the scene when it bought the former BAE space on Research in 2011. It followed that up with a full-building lease at 1701 Research, then bought 2350 Research from the county two years ago. Rick Farren at Cushman & Wakefield represented Minkoff, while Lance Schwarz and Peter Burleigh at NAI Michael brought Meso.

Information courtesy of the Montgomery County Newsletter from Maryland Newsletters

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7:00 am Boys & Girls Clubs of Greater Wa... @ Glen Dale Golf Course
Boys & Girls Clubs of Greater Wa... @ Glen Dale Golf Course
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Boys & Girls Clubs of Greater Washington (BGCGW) Prince George’s County - "Mentoring Matters" Inaugural Golf Classic @ Glen Dale Golf Course | Glenn Dale | Maryland | United States
          INAUGURAL  “MENTORING MATTERS GOLF TOURNAMENT WHEN:    Tuesday, June 7, 2016 WHERE:  Glenn Dale Golf Course in Glenn Dale, MD. DONATION: Individual Player: $100 (includes round of golf and lunch)[...]
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Prince George’s Zoning Rewrite @ Prince George's Sports & Learning Complex
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Meet with the Consultants Central County – Module 2 Listening Session Preview Clarion Associates’ draft language for Development Standards and Adequate Public Facilities. Attend one of three information sessions on the Zoning Rewrite to explore[...]
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7:00 pm Prince George’s Zoning Rewrite @ Southern Technology & Recreation Complex
Prince George’s Zoning Rewrite @ Southern Technology & Recreation Complex
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Meet with the Consultants South County – Module 2 Listening Session Preview Clarion Associates’ draft language for Development Standards and Adequate Public Facilities. Attend one of three information sessions on the Zoning Rewrite to explore[...]
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7:00 pm Prince George’s Zoning Rewrite @ Laurel-Beltsville Senior Activity Center
Prince George’s Zoning Rewrite @ Laurel-Beltsville Senior Activity Center
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Meet with the Consultants North County – Module 2 Listening Session Preview Clarion Associates’ draft language for Development Standards and Adequate Public Facilities. Attend one of three information sessions on the Zoning Rewrite to explore the[...]
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