Volume 30, Number 11 May 30, 2017

Transcription

1 MONTGOMERYNEWSLETTER An Independent, Bi-Weekly Newsletter on Real Estate Development Volume 30, Number 11 May 30, 2017 In Brief A law firm that makes regular appearances before the high court is the newest tenant at Bethesda Crescent. Design Dilemma Developers Cool to Planners Skyline Visions Save Our Floor Plates doesn t have quite the zing, as a motto, of Save the Whales, but that s the unfolding campaign among developers in Bethesda. Goldstein & Russell regularly argues cases before the Supreme Court, according to its website. It ll prep those cases from 7475 Wisconsin Avenue, where it leased 5,900 square feet with Brookfield Properties. KPI Commercial Leasing brought the tenant.. Morgan, Wingate P.C. just moved up from the District, collecting not $200 for passing Go, but cash nonetheless, in county MOVE money. The accounting firm took 5,264 square feet in relocating from Massachusetts Avenue to 7501 Wisconsin Avenue, in the process availing itself of the incentive offered to companies that cross the county line. Jack Alexander at AMR Commercial represented the tenant in the deal, while CBRE represents the building. New to the Planning Board: Tina Patterson was appointed to the five-member board that makes the planning decisions in Silver Spring, replacing Marye Wells-Harley. Patterson owns a management consulting firm. It s all in response to design guidelines coming from planners for new buildings, a part of the Bethesda Downtown Plan. The guidelines come to a Planning Board worksession this week, amidst concern from developers that the size of upper floors of taller buildings will be severely constrained. Like the overlay zone, the guidelines are a part of the Downtown Plan yet to be finalized in the months ahead. The County Council last week approved the Plan itself, which largely sets out land uses and potential heights. But key issues like the public benefit points needed for Sketch Plan approval, and the guidelines, remain. Tenant Size. Developers fear that the guidelines prescribe a wedding cake approach in which the great majority of buildings would step back at the top, an approach they say is inflexible and less marketable. Smaller floor plates are less efficient and appeal to smaller companies, they say, limiting the tenants that would lease them. From an economic development view, larger floor plates appeal to bigger companies, the kind that Montgomery County needs to attract to its primary downtown, developers argue. Where developers want to retain larger floor plates in the 25,000 foot range even as buildings rise, they believe that the design guidelines will mandate floor plates at the higher reaches to be as small as 15,000 feet for office. Planning director Gwen Wright says that while the Downtown Plan does speak to the need to manage bulk and mass as buildings rise, and retain view sheds, the focus on floor plate size is misplaced. Rather, Wright suggests that a menu of options exists to achieve the goal of a base, middle, top approach, including limiting floor plate size, using stepbacks and designing unique geometry. There are different solutions, she said. Still, notes from a recent Chamber of Commerce meeting that are included in this Thursday s presentation show that planners got an earful from developers over the guidelines. Other problems developers have: They fear the guidelines will be mandatory, not serve as guidance; Even new buildings like 7700 Norfolk wouldn t meet the guidelines; Not everyone prefers tower-style buildings; Restrictions on floor plate size would hit small sites hardest; The make-up and influence of a design panel raises concerns. MARYLAND NEWSLETTERS Publishers of the Montgomery & Prince George s Newsletters and the Howard/Arundel Report PO Box 1358, Olney, Md (301) support@marylandnewsletters.com

2 A Yard Makes Mateny Hill Unique About half of Craftmark Homes new townhouses at Mateny Hills in Germantown are a rarity in the county: they have backyards. Such towns are a disappearing breed in the new-home market, in a county where planning has largely dictated that rear-load garage towns be built. At Mateny Hill, off Clopper Road, Craftmark has just under 40 market towns. Half are rear-load, while the other half are the 22-foot, front-load Arlington model. Both are priced from the mid-$400 s. Craftmark also has some front-loaded towns at Parklands, its other newlyopened subdivision. But finding a front-loaded town in other new subdivisions has gotten hard, harder than three-day old biscuits, particularly since Ryan has sold out at Fountain Hills in Germantown, where it had a stock of the front-load towns. Brookfield Homes offers some at Travilah Station, as does EYA at Grosvenor Heights, in Bethesda. Beyond a few places, the rear-load garage, with a shared alley and no back yard, rules. And not unintentionally. County planners have made clear their preference for the rear-load garage. It s more aesthetically pleasing no open, yawning garage doors and it reduces car conflicts between kids on the sidewalks and dads pulling into the driveway. The rear-load also fits Montgomery s changing urban image, catering as it does to millenials and folks who don t want to own a mower, much less push it. But for the parents with a couple of rambunctious offspring in search of a townhouse and a yard to match, the Mateny Hill s of the county are in short supply. Now pass the biscuits. In White Flint II Board Open to Guardian Plan Guardian Realty Investors LLC made headway towards its long-range plan to eventually populate 6000 Executive Boulevard with more buildings, including senior living. Its concept plan for the corner of Old Georgetown Road and Executive Boulevard envisions additional buildings on the site. The plan, offered earlier this year as the Board began its land-use work on the White Flint II plan, shows the existing office building remaining. In a recent master plan worksession, the Planning Board tentatively backed the plan with some caveats. The Board agreed to a top height of 200 feet, but only for a single, signature building at the corner closest to Pike & Rose and only if Guardian builds underground parking. Then, heights across the site would slope down away from Pike & Rose. At the southern end of Guardian s property, the Board backed the idea of agerestricted independent living, but it had to tinker with staff s proposed 75-foot buffer from the adjoining property to get there. Guardian argued that with such a wide buffer, the age restricted doesn t happen. Wanting the prospect of that housing, the Board backed the buffer down to 50 feet. Of any new building at 6000 Executive, it is the senior housing that is most nearterm, and on which Guardian has every intention of proceeding once the master plan is done, according to Guardian s attorney Francoise M. Carrier. Kabu Coming to Rockville Kabu Japanese Steakhouse and Sushi s first-floor restaurant in Rockville will take most of the retail space in a Foulger Pratt office building. Kabu signed a lease for 8,000 feet at Rockville Metro Plaza II, leaving Foulger with only 2,000 square feet of retail left to fill. Above the coming restaurant, Choice Hotels International and Credible Behavior Health are the anchor tenants in the building at 1 Choice Hotels Circle. Dimitri Georgelakos at KLNB Retail repped the landlord, while Larry Hoffman with H&R Realty brought the tenant. Shelter Submits Plan Shelter Development is well attuned to the fact that the population is aging. The Baltimore-based senior living provider has nabbed a site for another facility, this one at 1201 Seven Locks Road, where it would build 198 units. Shelter submitted to Rockville planners the first round of plans for a new building. The Brick Companies owns the larger 6.3 acre tract of which Shelter will take just under two acres. Brick had annexed the property into Rockville in 1982 in order to build a 127,266 square foot medical building. Shelter s design shows its building on the present parking lot, and to replace the lost parking, Shelter will build below-grade parking that would serve both its own building and the medical building. (Shelter s application is PAM ). 2

3 A Modern House Moves Fast In just two days, a newly-built modern home in Bethesda went from listing to contract. And it went to closing in mid-april at $2.96 million, just a month and a half after hitting the market. An affiliate of architecture firm SGA Companies called 7021 Wilson Lane LLC built the 10,000 square foot house on a half-acre south of River Road. It stocked the rectangle design with eight bedrooms and 11 bathrooms. In the short time the house was on the market, seller 7021 Wilson, headed by Sassan Gharai, only negotiated the price down slightly, by about $30,000. The LLC listed the house on March 5 and had a contract on March 7, according to Redfin. Going modern on a spec basis is a rarity in Bethesda. More often, builders will build modern when they have a contract in hand. The same ownership on Wilson has another modern house on the market, but that one is a renovation of a house built in the 50 s. Priced at $2.275 million, 6309 Bradley Boulevard didn t get the two-day contract treatment; it has been listed on Redfin for over 260 days. Shahab Nasrin at TTR Sotheby s brokered the sale of the Wilson Lane house. Correction We had the incorrect landowner on our story in the last issue about 50 Monroe Place in Rockville. The owner is a Willco affiliate called Rockville Properties. The property is presently under contract to RST Development, with plans for a mixed-use building. Robust Tenant Movement Tenant demand in Bethesda has picked up recently, say brokers, driven in part by the prospect of new trophy buildings. Half a dozen tenants in the range of 50,000 to 75,000 feet are trolling the Bethesda market its believed, including a couple that may make landfall in the near future. Partly at work is the confluence of multiple major tenant lease expirations at the same time frame that JBG Companies and Carr Properties could be expected to deliver their new buildings. There are a lot of leases rolling when these buildings will deliver, said one broker, and tenants have to take a look at them. Companies are intrigued; they re kicking the tires. It also may be the front end of a coming trend: Like Marriott, other companies want to cater to millennial employees, with a location near transit or walkable amenities, in a building that offers a more current layout. The upshot is that Bethesda is a tenant-rich environment right now. A few choice locations up the 270 corridor are also seeing that activity. Carr has begun dismantling the old Apex Building where it will put up 7272 Wisconsin, and has a target date of Q3, 2020, for office delivery. JBG has been less firm about its plan on Bethesda Avenue, but brokerage reports treat the coming building there as a certainty. Beyond that, a building from StonebridgeCarras on the site of the former police station on Montgomery Avenue is potentially added to the mix. Other than Carr s own 4500 East West Highway building, a new ground-up building hasn t been built in Bethesda for 15 years, and brokers say tenants are thirsty for the next generation of buildings. Not to do Carr s public relations, but its 23-story building will offer some of the best views yet in Bethesda. Rents for the new buildings, however, will test tenant interest. At this point, rents are well below that for the Class A buildings in town, though demand suggests rents are rising. Brokers see some of the current lookers downsizing for more efficiencies, so they could opt for less, but more costly space. Hawkins Market Redevelopment Coming A wine bar is the plan to redevelop the Hawkins Market on Knowles Avenue in Kensington. Hawkins has moved fruits and vegetables for decades at the corner site near Summit Avenue, but the property was sold in early April to a partnership headed by developer Thomas Brault of Woodside Ventures. As Detrick Venture LLC, Brault s group paid $855,000 for the market, the small house next to it and the mulch yard to the rear, all zoned commercial. What s planned is about 6500 square feet of retail, anchored by the Knowles Station Wine & Co wine tasting bar. The Town Council has agreed the redevelopment is within the scope of the master plan, and Town Development Review Board chair Peter Fosselman said it helps with the community s wishes for more amenities. Brault said he s working with Hawkins Market, to find what he calls a positive outcome for everyone. 3

4 Metro Plaza Deals Doubling in size is bad for jockeys. But it s good for local companies. Community Multi Family did it in growing from 5,000 to almost 10,000 square feet at 8401 Colesville Road, part of Silver Spring Metro Plaza. Metro Plaza owner Brookfield Property Partners also signed current Silver Spring tenant Aspen to a 6,500 square foot lease in the same building. Within the same complex, Brookfield also renewed Medical Care Development International, keeping the firm in 5,300 feet in 8401 Colesville. And finally, in the rare but always welcome immediate expansion, Exiger added to the 17,244 square feet it recently leased by claiming another 2500 feet, that at 8403 Colesville. The Tenant Agency brought Community, while Cresa Partners represented Aspen. Navigator Realty repped MCDI. Yes to Conversion A west coast firm got the approval it wanted to convert a Gaithersburg hotel into senior housing. MRK Partners, from balmy Manhattan Beach, Ca., plans to convert the existing Hyatt House on Skidmore Avenue, near I-370 s connection to Frederick Road, into 140 units for independent seniors. Earlier this month, the City Council gave its assent to the rezoning and concept plan. The California firm says that rising hotel vacancies in the City make the Hyatt House suite concept harder to sustain, even while the senior demographic steadily increases. MRK would undertake primarily aesthetic improvements to make the conversion from a suite hotel into residences, but it would add elevator shafts and bridges to connect the existing six buildings Wisconsin Hits Sale Market Brandywine Realty Trust will test the pricing power of the new Bethesda with its offering of the office building at 7101 Wisconsin Avenue. The new Bethesda is of course the post-marriott announcement Bethesda, the place where Near the Marriott Headquarters will surely become a standard marketing tag. Brandywine checked off all the boxes setting up 7101 for sale, including a multi-million renovation, and new office lease deals that included Donohoe Companies. It also tenanted the first floor with a new workout facility in Solidcore. Together, new leasing deals pushed occupancy at the 223,000 square foot building to about 97 percent. HFF LP has the listing. Brookfield Property Partners s newest acquisition in Rockville cost it $23.37 million. The New York based buyer got Rockville Pike, or Montrose Metro 1, in a portfolio buy back in March, but the Land Records now shows the price broken out, as just under $195 per foot is the sister building to Rockville Pike, which also sold in the last year, to Boyd Watterson, but for $318 per foot. In that case, a full-building 60,000 foot GSA lease drove the higher value. An Auction Scheduled Now in special servicer LNR s hands but headed to an online auction are the two buildings at and Cloverleaf Center Drive, in Germantown. LNR Partners LLC took control of both buildings at a foreclosure auction last fall, and ratified the sale in February. The two single-story flex buildings total 60,000 feet and run about 58 percent occupied presently. The auction will be on Ten-X, in early June, and Colliers International is managing the disposition. Two Top-End Sales at The Lauren At $8.5 million, the nearly 6,000 square foot penthouse at The Lauren is still available for the particularly discerning buyer. But 1788 Holdings has now sold two of its next largest units. The developer of the 29-unit condominium at 4901 Hampden Lane in Bethesda has 16 sales on the books so far. In April, 1788 parted with Unit 404, getting $3.9 million for the 3,484 square foot suite. But the developer had also sold Unit 504 in January for $4.3 million, its highest dollar sale to date. That unit runs 3,576 square feet has since made another of the 3500 foot-plus units, at 604, its model. 1788, headed by Larry Goodwin, staked out the highest price points in Bethesda with its Lauren and Quarry Springs condos. In both cases, prices have topped the $3 million mark multiple times. 4

5 Board Backing Approval for a pair of new apartment buildings in Pooks Hill turned in large part on a little known game of leisure: bocce ball. Quadrangle Developments plans a total of 631 units in two buildings next to the existing Marriott Hotel on Pooks Hill Road. It left the Planning Board last week with an approval it had hoped to get back in September, when the same plan had deadlocked over recreation issues: a couple of existing tennis courts within a stream valley buffer, and a proposed natural surface trail. Planners at that meeting wanted to see the tennis courts removed, and whether the trail could be made ADA compliant. Quadrangle instead came back this spring with two different leisure activities: a multi-sport turf field - safely outside the stream valley park - instead of the tennis courts, and the bocce court. It was a leisure package that all could agree on, and Quadrangle can now move ahead with the new apartments...a rezoning that will be wrapped into a small mixed-use center in Ashton won the Planning Board s backing last week. Nichols Developments wants to convert about 3.5 acres in all on Ashton Road close to New Hampshire into a mixeduse node of retail, towns and apartments. Fronting Route 108, Nichols would develop 6,000 square feet of retail topped by three apartments; it already has the proper zoning for that. It is the ground for the planned 20 townhouse lots on which Nichols wants the county s floating townhouse zone, TF-10. Like staff, the Board agreed that a redevelopment of the former Sole d Italia restaurant property fits the village overlay zone that governs growth in Ashton. Nichols owns two of the parcels in its assemblage, but added the former restaurant site by putting it under contract from Capital One Bank. Building Permits Issued May 9 21, 2017 Bethesda Spring Valley Builders, 8849 Tuckerman Lane, Potomac, Md , (301) , to build a $400,000 unit at 5717 Bradley Blvd., Bethesda, in English Village; Mid-Atlantic Custom Builders, Old Georgetown Road, #200, Rockville, Md , (301) , to build a $450,000 unit at 8709 Bradmoor Drive, Bethesda, in Bradmoor. Sandy Spring Builders LLC, 4705 West Virginia Avenue, Bethesda, Md , (301) , to build a $650,000 unit at 6800 Bradgrove Circle, Bethesda, in Bradley Hills Grove; Sandy Spring Builders LLC, to build a $650,000 unit at 5200 Edgemoor Lane, Bethesda, in Edgemoor; Chevy Chase Matthew Hamilton, 9700 Brunett Avenue, Silver Spring, Md , (240) , to build a $400,000 unit at 3819 Everett Street, Kensington, in Chevy Chase View; 7108 Ridgewood Avenue LLC, 8750 Brookville Road, Silver Spring, Md , (301) , to build a $600,000 unit at 7108 Ridgewood Avenue, Chevy Chase, in Chevy Chase, Section 4. Clarksburg NVR Inc., to build three units in Clarksburg Village, at: Canterfield Way; Peppervine Drive; Elk Horn Drive; Winchester Homes, 6905 Rockledge Drive, #800, Bethesda, Md. (301) , to build four $175,000 units in Cabin Branch, Clarksburg, at: Dovekie Avenue; Cabin Branch Avenue; Stilt Street; Stilt Street; Craftmark Homes, 1355 Beverly Road, #330, McLean, Va , (703) , to build two $300,000 units in Clarksburg Village, at and Winding Woods Way; NVR Inc, to build five units in Cabin Branch, at: Fulmer Avenue; Fulmer Avenue; Dovekie Avenue; Godwit Street; Harrier Way; Rockville Brookfield Residential Properties, 3201 Jermantown Road, #150, Fairfax, Va. (703) , to build three TH units avg. $280,000 in Travilah Station, at: Hilltop Ascent Drive; Hilltop Ascent Drive; Hilltop Ascent Drive; Ryan Mollett, Circle Drive, Rockville, Md , (301) , to build a $500,000 unit at Circle Drive, Rockville, in Glen Hills; 5

6 Building Permits Issued (from p. 5) Washington Metropolitan Homes, Huntover Drive, Rockville, Md. (240) , to build a $250,000 unit at Stephalee Lane, Rockville, in Luxmanor; Silver Spring Mitchell & Best Homes, 1686 E. Gude Drive, Rockville, Md. (301) , to build a $300,000 unit at Woods Center Road, Silver Spring, in Allenwood; Peggy M. Jones, 5210 Myer Court, Rockville, Md. (301) , to build a $356,500 unit at 822 Violet Place, Silver Spring; NVR Inc., 656 Quince Orchard Road, #500, Gaithersburg, Md. (301) , to build a $175,000 unit at Soaring Wing Lane, Silver Spring, in Poplar Run; Winchester Homes, (301) , to build a unit at Soaring Wing Lane, Silver Spring, in Poplar Run; Other Locations Oliver Delperdange, 4403 Garrett Park Road, Silver Spring, Md , (703) , to build a $275,000 unit at the same address, in Viers Mill Village; Wormald Homes, 5283 Corporate Drive, #300, Frederick, Md , (301) , to build a $402,450 unit at Parkwood Drive, in Kensington Estates; NVR Inc., to build two units in Bentley Park, Burtonsville, at:14814 Saddle Creek Drive and Bentley Park Drive; Kettler Forlines, 9426 Stewartown Road, #3C, Montgomery Village, Md , (301) , to build a $215,000 unit at Lewis Orchard Lane, Poolesville, in Brightwell Crossing; Commercial Permits Issued May 9 21, 2017 Design Collective Inc., 601 E. Pratt Street, #300, Baltimore, Md , (410) , to build an $82 million 20-story multi-family building at 8250 Georgia Avenue, Silver Spring; Laura Pierson, 7735 Old Georgetown Road, #700, Bethesda, Md , (240) , to build a $4.8 million building of 12,956 square feet at 1200 Spring Street, Silver Spring; Matt Bloye, 8120 Woodmont Avenue, #410, Bethesda, Md , (301) , to build a $165,000 interior fitout of 53,000 square feet at 9211 Gaither Road, Gaithersburg; Financial Industry Regulatory Authority, c/o Urie PC, Innsbrook Way, Ijamsville, Md , (301) , to build a $4.1 million fit-out of 28,010 square feet, at 9513 Key West Avenue, Rockville; Mont. Co. DGS, 101 Monroe Street, 11 th Floor, Rockville, Md. (240) , to build a $142,600 improvement at Bethesda Library, at 7400 Arlington Road, Bethesda; Lauren McDonald, 730 Eleventh Street, NW, Washington, DC, 20001, (571) , to build an $800,000 fit-out of 1,968 square feet at Glen Road, Potomac; Andrew Edgley, Tech Road, Silver Spring, Md. (301) , to build a $116,181 fit-out of 3,931 square foot at Rockville Pike, Rockville; PS Business Parks, 7927 Jones Branch Drive, Tysons Corner, Va. (703) , to build a $144,100 fit-out of 12,010 square feet at 7520 Standish Place, Rockville; Heath Design, 516 North Charles Street, Baltimore, Md. (410) , to build a $177,630 improvement at Veirs Mill Road, Silver Spring; Montgomery County, 101 Monroe St., 9 th Floor, Rockville, Md , (240) , to build a $2 million improvement at Rockville Pike, Rockville; L2M Architects, 811 Cromwell Park Drive, #113, Glen Burnie (410) , to build a $185,000 white box space of 2,309 square feet at Grand Park Avenue, North Bethesda; Kate McKeever, Fairfax Blvd, #405, Fairfax, Va , (703) , x229, to build a $283,629 square foot interior fit-out of 15,610 square feet at 4550 Montgomery Avenue; Gusto Farm to Street, (703) , to build a $86,476 new tenant fit-out at Montgomery Mall; Moore & Associates, 4350 East West Highway, #600, Bethesda, Md. (240) , to build a $72,936 fit-out on the 9 th floor, at 4350 East West Highway, Bethesda; City of Rockville Applications PAM Shelter Development. 1.7 acres. Propose 198-unit retirement building (127,260 square feet). Located at 1201 Seven Locks Road, Rockville. Appl: Shelter Development, 218 N. Charles Street, #220, Baltimore, Md (410) City of G burg Actions of Note SP Hyatt House. (Concept Site Plan), and Z , Rezoning from C-2 to CD zone. Propose conversion of Hyatt House Hotel to senior rental apartments. Located at 200 Skidmore Blvd, Gaithersburg. Appl: MRK Partners, c/o Sydne Garchik, 2711 N. Sepulveda Boulevard, Manhattan Beach, Ca. Approved. SK Market Street. Sketch Plan. Propose mixed-use development, potential 1450 residential units and 1.05 million sf commercial. 12 acres. Located in the sw quadrant of Great Seneca Highway and Quince Orchard, Gaithersburg. Appl: Saul Holdings LP, 7501 Wisconsin Avenue, Bethesda, Md (301) Planning Commission recommended Approval. 6

7 City of G burg Building Permits Craftmark Homes, McLean, Va. (703) , to build four $70,000 TH units on Caulfield Lane, in Parklands; M/I Homes, Sterling, Va., to build four $150,000 TH units on Kepler Drive and 3 $150,000 units on Crown Park Avenue, in Crown; Summit Interior Construction, 5431 Yukon Court, Frederick, Md., to build a $200,000 fit-out for Wells Fargo Bank, at 107 Crown Park Avenue, Crown; Pre-Preliminary Plans Approved May 18 and 25, Lyndenwood Avenue. Zoned Rural. 1 lot acres. Located on Lyndenwood Avenue, 380 feet southeast of Old Pine Road. Appl: Robert Chamblin, 240 S. Ashland Avenue, Lexington, Ky, (859) , or c/o Benning & Associates, (301) Preliminary Plans Approved May 18 and 22, ESFCU Germantown. Zoned C acres. Propose 9,990 square feet office. Located on Frederick Road, 370 feet southeast of Plummer Drive, Germantown. Appl: Educational Systems Federal Credit Union, c/o Morgan Keller Inc., 70 Thomas Jefferson Drive, #200, Frederick, Md (301) B Chevy Chase Lake, Block B. Zoned CRT acres. Propose 534 multi-family units and 107,704 square foot retail center. Located on Connecticut Avenue at Manor Road, Chevy Chase. Appl: Bozzuto Development Company, 6406 Ivy Lane, Greenbelt, Md (301) Site Plans Approved May 18 and 25, St. Elmo Apartments. Zoned CR acre. Propose 210 multi-family, 7,656 sf retail and 7,832 sf office. Located on St. Elmo Avenue, 300 feet south of Norfolk Avenue, Bethesda. Appl: 4931 Fairmont LLC, c/o Eddie Lenkin, 4922A St. Elmo Avenue, Bethesda, Md (301) C - Pooks Hill. (And Sketch Plan Amendment A). Zoned CR acres. Propose two highrise apartment buildings with up to 631 units, incl. 15% MPDUs. Located at 5151 Pooks Hill Road, Bethesda, Md. Appl: Q Pooks Hill Member LLC, c/o Quadrangle Development, 1001 G Street NW, #700W, Washington, DC, (202) ESFCU Germantown. Zoned C acres. Propose 9,990 square feet office. Located on Frederick Road, 370 feet southeast of Plummer Drive, Germantown. Appl: Educational Systems Federal Credit Union, c/o Morgan Keller Inc., 70 Thomas Jefferson Drive, #200, Frederick, Md (301) Chevy Chase Lake, Block B. Zoned CRT acres. Propose 534 multi-family units and 107,704 square foot retail center. Located on Connecticut Avenue at Manor Road, Chevy Chase. Appl: Bozzuto Development Company, 6406 Ivy Lane, Greenbelt, Md (301) Record Plats Approved May 18 and 25, Kentsdale Estates. Zoned RE-2. 1 lot. Located on the east side of Willowbrook Drive, 400 feet north of Paytley Bridge Lane, Potomac. Appl: Diana Epstein, Willowbrook Drive, Potomac, Md (301) J.H. Millers Addition to Bethesda. Zoned CR. 1 lot. Located in the northwest quadrant of Wisconsin Avenue and Bethesda Avenue, Bethesda. Appl: JBG/Bethesda Avenue, LLC, 4445 Willard Avenue, #400, Chevy Chase, Md. (240) Battery Park. (Sect. 3). Zoned R lot. Located on the northeast side of Park Lane, 60 feet south of Maple Ridge Road, Bethesda. Appl: Joshua Graham, 8031 Park Lane, Bethesda, Md (202) Real Estate Transactions of Note Exchange Joint Venture, c/o HBW Real Estate, 1055 First Street, #200, Rockville, Md , to 369 LLC, c/o Promark Real Estate Services, 1390 Piccard Drive, #120, Rockville, Md. Lot 24 (Block C) in City Center. Located at 451 Hungerford Drive, Rockville, Md Lot is 136,066 square feet. Improved with 101,021 square foot office building. Zoned Commercial. Tax ID: Liber 54261, page 198. Deed date: May 8, Purchase price: $14,500,000. Deed of Trust: $11.3 million, Revere Bank. WBCMT 2005-C21 Office 6116, LLC to GS Property 6116 LLC, c/o Goodstone LLC, th Street, NW, Washington, DC, Parcel I in Washington Science Center. Located at 6116 Executive Blvd, Rockville, Md acres. Improved with 217,109 square foot office building. Zoned Commercial. Tax ID: Liber 54268, page 395. Deed date: April 21, Purchase price: $9,975,000. (Continued on Page 8) 7

8 Real Estate Transactions (from p. 7) The Realty Associates Fund IX, LP to BSREP II Montrose Metro LLC, c/o Brookfield Property Group, 250 Vesey Street, 15 th Floor, NY, NY. Parcel 6 in Montrose Pavilion. Located at Rockville Pike, Rockville, Md. Lot is 74,666 square feet. Improved with 115,356 square foot building. Zoned Commercial. Tax ID: Liber 54276, page 410. Deed date: March 27, Purchase price: $23,375,000. Namaki, LLC, c/o Dean Zarpak, to Luis Ulpiano Leon Esquire LLC, 966 Hungerford Drive, #1A, Rockville, Md Lots 65 and 66 in Observatory Heights. Located at 102 and 104 S. Frederick Avenue, Gaithersburg, Md Lots total 12,238 square feet. Improved with 2,903 square foot building. Zoned Commercial. Tax ID: and Liber 54282, page 68. Deed date: April 26, Purchase price: $850,000. Deed of Trust: $680,000, Sandy Spring Bank. Perrywood LLC, c/o Peter Zur Nedden, to OMR Woodfield Road, LLC, c/o John Gibbons Oaktree Multifamily Asset Mgmt, 4344 Albemarle Street, NW, Washington, DC. Lot 1 in Pleasant Valley. Located at Woodfield Road, Damascus, Md Lot is 43,560 square feet. Improved with 9,984 square foot building. Zoned for Apartments. Tax ID: Liber 54262, page 423. Deed date: March 22, Purchase price: $1,620,000. Deed of Trust: $1.65 million, First Virginia Community Bank. Laurene Sorensen to Moore Hospitality Properties LLC, c/o William A. Moore. Lot 32 (E) in Triangle Park. Located at 2526 University Boulevard West, Silver Spring, Md Lot is 10,439 square feet. Improved with 3,104 square foot restaurant. Zoned Commercial. Tax ID: Tax ID: Liber 54264, page 439. Deed date: April 17, Purchase price: $2,000,000. Deed of Trust: $1.6 million, John Marshall Bank. S&R Pishva Investments LLC to New Hampshire Avenue, LLC, c/o David Berg, L&H Business Consultants, 1212 York Road, C-300, Lutherville, Md. (Thru Bankruptcy). Lot 8 (Block 3) in Meadowood. Located at New Hampshire Avenue, Silver Spring, Md. Lot is 13,148 square feet. Improved with 1,744 square foot building. Zoned Commercial. Tax ID: Liber 54261, page 6. Deed date: April 4, Purchase price: $800,000. City of Gaithersburg to State Highway Administration. Property of 7.86 acres. Located on Quince Orchard Road, Gaithersburg, Md. Tax ID: Liber 54308, page 298. Deed date: April 18, Purchase price: $102,250. RESIDENTIAL Fernando J. Bernardes to Kumari, LLC, 50 W. Edmonston Drive, #405, Rockville, Md Lot 16 (Block 6) in North Bethesda Grove. Located at 5602 Grosvenor Lane, Bethesda, Md Lot is 6,717 square feet. Improved with house (built 1953). Zoned Residential. Tax ID: Liber 54252, page 439. Deed date: March 10, Purchase price: $570,000. Richard J. Bower et al, to Douglas Construction Group LLC. Lot 4 (Block 3) in Greenacres. Located at 4915 Greenway Drive, Bethesda, Md Lot is 5,002 square feet. Improved with house (built 1940). Zoned Residential. Tax ID: Liber 54260, page 468. Deed date: April 12, Purchase price: $585,000. Deed of Trust: Amend note with Eagle Bank. Fraser Brewer to ZB Connecticut LLC, c/o Eric Zuckerman, 5013 Smallwood Drive, Bethesda, Md Lot 7 (Block 3) in Chevy Chase, Section 3. Located at 6817 Connecticut Avenue, Chevy Chase, Md Lot is 18,000 square feet. Improved with house (built 1921). Zoned Residential. Tax ID: Liber 54291, page 173. Deed date: April 21, Purchase price: $810,000. Deed of Trust: $471,250, United Bank. Raymond J. Murow to C.M. Conlan Contractors & Builders Inc., 8014 Custer Road, Bethesda, Md Lot 9 (3-B) in Bradley Hills. Located at 5110 Fairglen Lane, Chevy Chase, Md Tax ID: Liber 54309, page 284. Deed date: May 15, Purchase price: $900,000. Builder Sales of Note 7021 Wilson Lane LLC, c/o Sassan Gharai, Managing Member, to Andreas Kotzur. Lot 15 (2) in Bannockburn. Located at 7021 Wilson Lane, Bethesda, Md Lot is 21,466 square feet. Improved with 7,435 square foot house. Zoned Residential. Tax ID: Liber 54284, page 426. Deed date: April 14, Purchase price: $2,960,000. American Signature Properties LLC, c/o Wormald Homes, to Harsha V. Mokkarala. Lot 35 (Block C) in Alta Vista Gardens. Located at 5911 Jarvis Lane, Bethesda, Md Lot is 9,180 square feet. Improved with house (built 1954). Zoned Residential. Tax ID: Liber 54305, page 294. Deed date: April 28, Purchase price: $1,425,000. C.M. Conlan Contractors & Builders Inc. to Lia Rose. Lot 35 (Block 5) in Brandt s Addition to Pineview. Located at 7730 Oldchester Road, Bethesda, Md Lot is 12,459 square feet. Improved with new house. Zoned Residential. Tax ID: Liber 54286, page 86. Deed date: April 26, Purchase price: $1,960,000. The Maryland Newsletters Publishers of the Montgomery & Prince George s Newsletters and the Howard/Arundel Report PO Box 1358, Olney, Md (301) Web site: $215/annually (24 issues). The information published in this newsletter is deemed reliable, but is not guaranteed. support@marylandnewsletters.com