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VALUE . . . ADDED

Baltimore
Baltimore
June 21, 2011 Bisnow
VALUE . . . ADDED
In 2009, Merritt Properties bought Calverton Corporate Center for $49/SF. Yesterday, two years and a $6.2M renovation later, it announced its first two tenants.
Calverton Corporate Center, Merritt Properties, value add, Atkins, The Cruise Web, Prince George's County, MD, Lanham, Beltsville, Ron Burkhardt, Mike Singer, Mia Costa, Steve Shaw, Bryan Rodriguez, Jones Lang LaSalle, Newmark Knight Frank
Online retailer The Cruise Web and engineering firm Atkins combined to take 43k SF, bringing the 123k SF building to 35% occupancy. Both are relocations from elsewhere in Prince George's County (Atkins: 12101 Indian Creek Ct in Beltsville; Cruise Web: 8100 Corporate Dr in Lanham). They'll move in by November. What motivated the move (besides an inate desire to be in a building with a facade shaped like a Tetris block)? Calverton Corporate Center's access to I-95 and the Intercounty Connector (as well as its proximity to Columbia), we're told. Newmark Knight Frank's Ron Burkhardt repped Cruise Web, and JLL's Mike Singer and Mia Costa repped Atkins. Merritt's team: Steve Shaw and Bryan Rodriguez.
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Related Topics: Merritt Properties, Mike Singer, Ron Burkhardt, Calverton Corporate Center, Cruise Web, Steve Shaw