News
BISNOW EXCLUSIVE: BEST SPOT EVER
June 7, 2012
| Manekin has stumbled upon an MOB site that's so "just right" it would make Goldilocks green with envy: an old manufacturing plant at a traffic light at the back door to JHU's Bayview campus (next to NIH's 500k SF). It has a high parking ratio and is next to coming mass transit. |
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| Yesterday, Manekin investment services co-director John Graham(right, with development director Cole Schnorf) told us he had just dropped off his daughter's MRI at Bayview, drove around back, and found himself staring at a Cassidy Turley "Space Available" sign for 5500 E Lombard St. Give Ms. Graham, a wilderness guide who banged up her knee ice climbing on New Hampshire's Mt. Washington, a commission check! |
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| Working it in front of the leasing sign that just went up are Manekin brokerage director Adam Nachlas and Susan Homberg. Turns out Manekin CEO Richard Alter went to high school with the sister of property owner Jim Crystal, who was offering the space as is. And so Jim and Manekin struck up a JV to redevelop the one-story LUI Corp furniture-manufacturing facility-turned-multi-tenant MOB into Class-A medical office. |
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| At 72k SF, it could go to a single tenant, though Adam anticipates multi-tenancy. The DVA Architects-designed space can accommodate tenants as small as 2,700 SF. The Manekin team says a multi-story building (to add more SF) would blow up the five cars per 1,000 SF parking ratio for which the site has room (MOBs need more than traditional office's four/1,000). They tell us pre-leasing has just begun, engineering and stormwater management are going through the paces, and the made-over building will deliver Q2 2013. |
