Developer takes on new partner, changes name to Petrie Dierman Kughn


March 20, 1991|By Edward Gunts

Petrie, Dierman & Partners Inc., a shopping center developer with properties in Maryland and Virginia, has taken on a new partner and changed its name to Petrie Dierman Kughn.

The name change reflects the addition of Detroit-based business magnate Richard Kughn, who has become a managing partner of the five-year-old business. The other partners are founders Walter Petrie and Jeffrey Dierman.

Petrie, Dierman & Partners developed the Centre at Salisbury, a 900,000-square-foot mall that opened on Maryland's Eastern Shore last July, and owns the vacant Hecht's department store at Howard and Lexington streets in Baltimore.

Mr. Kughn is already a partner in the firm's two newest projects, City Place, a 300,000-square-foot mall under construction in Silver Spring; and Largo Town Center, a 285,000-square-foot retail center under construction in Prince George's County.

Mr. Petrie said that he and Mr. Kughn first worked together in the

1970s, when Mr. Kughn was president of the Taubman Co., one of the nation's largest mall developers, and Mr. Petrie was vice president of development for Taubman.

Mr. Kughn retired as vice chairman of the board of Taubman in 1983. "My mentor is now my partner," Mr. Petrie said. "I am personally and professionally gratified by his vote of confidence."

Petrie Dierman Kughn plans to continue its development work in Maryland and Virginia and branch out to other parts of the country. It already is working on plans to developer a regional mall in Vero Beach, Florida and off-price centers in the Midwest and South.

The firm has its corporate headquarters in McLean, Va. and a regional office in Clearwater, Florida, and it plans to open a second regional office this spring in Detroit.


Around the region:

* Developers of the $350 million Inner Harbor East community have given up on efforts to get the State Highway Administration to build offices within their development.

John Paterakis, who is developing the project with Gilbane Properties, said that his group made a preliminary presentation to state officials in January, but was told the 220,000-square-foot project was already too far along in the planning stages for the Camden Yards area for state officials to consider Inner Harbor East.

* Ayers Saint Gross Inc. will be the architect for an 80,000-square-foot building that the University of Maryland Medical System plans to construct at Penn and Lombard streets to replace several other buildings that are being torn down at the northwest corner of Lombard and Greene streets to make way for a new medical tower.

Ayers Saint was selected as part of a construction management contract between the medical center and Whiting Turner Contracting Co. H. C. Yu and Associates is the mechanical and electrical engineer for the Lombard Street project.

* Baltimore's Design Advisory Panel has given conceptual approval to plans developed by Hord Coplan Macht for a new branch bank for Mercantile Safe Deposit and Trust Co. at the northwest corner of Charles and Chase streets. The one-story banking hall will have a mezzanine for office workers.

At one time it was being designed so several more floors could be constructed above the initial building, but it is not currently being designed to accommodate such an expansion,according to architect Ed Hord.

Mercantile would like to begin construction later this year and complete the building by the end of 1992.

* Attman Properties and Continental Realty Corp. have completed work on the fourth of six office buildings at the Cloverleaf Business Park on Route 3/Interstate 97 in Millersville. The newest building contains 43,000 square feet of office space. Corridor Brokerage Services Inc. and Attman Brokerage Services are co-listing agents for the property. When complete, the business park with have 250,000 square feet of office, warehouse and retail space.

* A development group headed by Otis Warren and Theo Rodgers has begun preliminary site work for the City Crescent office building, a 250,000-square-foot, 11-story structure at the southwest corner of Howard and Baltimore streets. The office building will provide office space for several federal agencies, including Army Corps of Engineers and the Baltimore office of the U.S. Department of Housing and Urban Development.

* The Suburbia Building, a seven story, 47,600-square-foot office building at 5604 Baltimore National Pike, is scheduled to go on the auction block April 9. The auction, by Atlantic Auctions, is a foreclosure sale on behalf of Fairfax Savings Bank and will be held on the premises beginning at 1 p.m. The sale also includes leasehold title to the parking lots at 5610 Baltimore National Pike and 5615 and 56199 Johnny Cake Road.

The current owner is a local group called Suburbia Investors Limited Partnership.

* Belfast Valley Contractors recently purchased a 2,000-square-foot office building at 9719 Pulaski Highway in Baltimore County. Bob Moore of O'Conor, Piper & Flynn represented the buyer, and Daniel Hudak and Michael Goetz of Mid-Atlantic Properties Inc. represented the seller, Ethel Sperl.

* Columbia-Free State Health System, a health maintenance organization, recently held opening ceremonies for its Annapolis Regional Medical Center, a 66,000-square-foot facility at the West Woods complex in Annapolis. Columbia Design Collective was the tenant's architect, and Norwood Industrial Construction was the builder. F. Daniel Cathers was the architect for the 200,000-square-foot West Woods complex.

* W. W. Adcock Co., a wholesale distributor of pool equipment, purchased a 33,262 square foot building at the Concourse development in Millersville. Robin Maisel of Coldwell Banker represented the buyer and Tim Cahill and Matt Ryan of Coldwell Banker represented the seller, Richard Polm.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.