Franklin Business Park to be developed in '92


August 14, 1991|By Edward Gunts

Continental Realty Corp. plans to develop the Franklin Business Park, a business community on an 11-acre parcel off Interstate 795 near Franklin Boulevard in Owings Mills.

The first phase of the project will entail construction of two one-story buildings containing a total of 26,000 square feet of medical and executive office space on a 3-acre site at the southwest corner of Franklin Boulevard and I-795.

The second phase is development of an 8-acre parcel just off the interstate at Nicodemus Road, but exact plans for it have not been disclosed.

Hord, Coplan Macht is the architect for the project, and Corridor Brokerage Services of Columbia is handling leasing. Work on the first phase is expected to begin next spring.

* Columbia Office Associates, a development group affiliated with the Trammell Crow Co., has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.

According to documents filed with the U.S. Bankruptcy Court in Baltimore, the group controls three office buildings on Broken Land Parkway in Columbia. Donald G. Taylor, managing general partner of Crow-Broken Land South Associates Limited Partnership, is the general partner of the group. Assets and liabilities were not listed as part of the filing.

Mr. Taylor could not be reached for comment, but the buildings apparently include the Lakeview I and Lakeview II structures, which contain more than 200,000 square feet of office space in the 9800 block of Broken Land Parkway.

Constructed in the mid-1980s, they were among the first Trammell Crow projects built in the Baltimore market.

* Around the region:

* Trenton Mill Limited Partnership has purchased 36 acres in the Hampstead section of Carroll County for development as the Trenton Business Center, a mixed-use business park. Located on Route 30 at Trenton Mill Road, the property will be sold as 13 individual lots.

The town of Hampstead recently annexed the land from Carroll County and upgraded its zoning from industrial to commercial-industrial.

Pembroke Development Co. of Owings Mills is the managing general partner of Trenton Mill Limited Partnership. It has not set a timetable for developing the business park. Walter Patton of Kayne Levin Neilson Bavar Realtors represented the buyer and the seller of the land.

* Kunkel Piano & Organ Co. is moving its White Marsh Mall branch store to the Perry Hall Crossing shopping center, where it has leased 4,000 square feet of space.

* Summit Properties, the developer of the Waterloo Place apartment complex in Mount Vernon, has moved its mid-Atlantic offices from Key Highway to Brown's Wharf at 1629 Thames Street.

* Better Engineering MFG Inc., a manufacturer of degreasing machinery, has purchased a 30,000-square-foot building at 8661 Town Center Court in White Marsh Town Center. Scott Skogmo of W. C. Pinkard & Co. represented the buyer and Daniel Colhoun III of Casey & Associates represented the seller, P. F. Obrecht & Son.

* The Rolm Co. renewed its lease of 17,000 square feet at Security Office Park, 7000 Security Boulevard in Catonsville. K. Alan Orman of W. C. Pinkard & Co. negotiated the transaction.

* AT&T Corp. has renewed its lease and leased additional space at Lakefront III in Hunt Valley, where it now occupies a total of 9,400 square feet. Ketch Secor of W. C. Pinkard & Co. negotiated the transaction.

* Frances Steinberg, Ph.D., has renewed his lease of 3,000 square feet at 11438 Cronridge Drive in Baltimore. K. Alan Orman of W. C. Pinkard & Co. represented the tenant, and MIE Investment, the landlord, represented itself.

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