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HEALTH
By Andrea K. Walker, The Baltimore Sun | September 17, 2010
Mercy Medical Center is converting a former Giant grocery store in Lutherville into a hub where patients can go for lab work, minor surgeries and to visit primary care physicians. Urgent care centers such as Patient First and Doctors Express are taking over retail spaces in high-traffic areas, including where a Roy Rogers fast-food restaurant was once located. And Thomson Reuters this summer opened its first branch dedicated to health care research in Woodlawn office space, where more than two dozen employees will provide data and analysis to the federal government.
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BUSINESS
By Natalie Sherman | May 23, 2014
An Iowa-based real estate investment group has closed on a 352,850-square-foot Anne Arundel County warehouse occupied by Under Armour. The building, located at 7629 Gambrills Cove Road and known as Brandon Woods II, fetched $26.475 million from buyer Principal Real Estate Investors, according to a news release from real estate services firm CBRE, which arranged the sale. The last arms-length sale of the property occurred in 2000, when the property sold for $20.5 million. β€œThe Under Armour tenancy, Class A quality of the building, and proximity to the Port of Baltimore combined to make this asset a highly desirable offering for the Baltimore-Washington Corridor market.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Correspondent | February 2, 1994
WASHINGTON -- Metropolitan Baltimore's office real estate market improved markedly during 1993, but only modest increases in occupancy for offices and industrial properties are expected in 1994, a real estate industry group said yesterday.The annual market report by the Society of Office and Industrial Realtors, in conjunction with Landauer Real Estate Counselors of New York, said downtown Baltimore's office vacancy rate fell to 17.6 percent last year from more than 20 percent in 1992. The Baltimore rate is still slightly higher than the national average of 17 percent.
ENTERTAINMENT
By Catherine Mallette, The Baltimore Sun | March 20, 2013
"Is there any way out other than the main stairs?" I asked. My husband, our real-estate agent, the seller's agent and I were standing in the finished basement of a home in Owings Mills. It was a vast space: a nice bathroom, a media room, a room big enough to waltz in and another room with hidden panels in the walls for stashing who knows what. There was even a fireplace at the bottom of the stairs, creating a spa-like atmosphere. But no, the selling agent said that there was just the one staircase, noting that some people like having only one way into the basement because exterior doors attract thieves.
BUSINESS
By Marsha Kay Seff and Marsha Kay Seff,Copley News Service | December 6, 1992
The real estate market will improve in 1993 because Bill Clinton's election will boost buyer confidence, speakers at the recent National Association of Realtors' convention predicted."
BUSINESS
By Edward Gunts | September 30, 1990
The real estate market in metropolitan Baltimore held steady during the first half of 1990, with the total number of real estate sales dropping by only 1 percent from the number of sales in the first half of 1989, according to Rufus S. Lusk & Son Inc., a regional real estate information service.For the first half of 1990, according to the Lusk report, the number of single-family residences sold was 19,395 as opposed to a figure of 19,551 for sales in the first half of 1989. The total number of condominium sales rose 16 percent, from 2,534 sales in the first half of 1989 to 2,936 during the first half of 1990.
BUSINESS
By PHILIP MOELLER and PHILIP MOELLER,SUN BUSINESS EDITOR | July 24, 1991
The best news of the summer was Friday's announcement by MNC Financial that it was placing oversight of $1.8 billion in bad ++ loans and other non-performing assets into its South Charles Realty subsidiary.By doing so, Maryland's largest banking company was sending its strongest message to date that the worst may be over for the region's real estate market and the many financial and real estate companies that have been struggling for much of the past two years. As a dominant force in that market, any fresh air emanating from MNC would be a badly needed breeze for Maryland's becalmed economy.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 2, 2010
First Mariner Bancorp reported Monday that it lost $4.7 million in the second quarter, nearly double the loss of the corresponding quarter a year earlier. On a per share basis, the parent company of Baltimore's 1st Mariner Bank lost 28 cents per share, compared with 37 cents the year before. First Mariner Chairman and Chief Executive Edwin F. Hale Sr. blamed the soft economy and weak real estate market for the downward pressure on earnings. The company set aside $4.4 million for loan losses in the second quarter, a 52 percent increase over a year earlier.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | July 26, 1992
As chaotic as the commercial real estate market is these days, the pre-engagement deal MNC Financial Inc. has with banking titan NationsBank Corp. isn't expected to shake things up much more."
BUSINESS
By Newsday | July 10, 1991
NEW YORK -- Last autumn, morale was sinking at Citicorp faster than its stock price, which was about to reach an eight-year low. Profits were slumping. Layoff rumors were spreading. Bonuses were in doubt.Just when the troops needed a boost, the Harvard Business Review published a lengthy interview with Citicorp Chairman John S. Reed that left many feeling deflated.In the wide-ranging interview, Reed discussed abstract concepts like "globality" and "textured competence." He compared professional pride to lining up socks in a drawer.
BUSINESS
By Steve Kilar, The Baltimore Sun | October 8, 2012
The threat of automatic spending cuts by the federal government caused companies to press the pause button on real estate expansion in the Baltimore region during the third quarter, according to analysts. "It reflects the nature of the economic drivers in the region," said Robert Manekin, managing director of Colliers International's Baltimore office. Federal agencies and contractors make up a large percentage of office tenants throughout Central Maryland, and uncertainty about the national budget has caused them to be more cautious about leasing new space, he said.
NEWS
June 6, 2012
After reading Jamie Smith Hopkins ' recent article on underwater mortgages ("That sinking feeling," June 3), I had a sinking feeling. Ms. Hopkins used Zillow as her source of information. Zillow does not pull its information from any multiple list service in the country. They pull their information from tax records only. Many assessments showing on tax records are wrong or outdated. To state that nearly 31 percent of homes in the Baltimore area are worth less than the mortgaged amount is just plain wrong and a very dangerous and irresponsible statement.
NEWS
December 18, 2011
A homeowner should not pay more in property taxes than his two neighbors put together for their nearly identical homes. But that's exactly what Sun reporters Scott Calvert and Jamie Smith Hopkins found in a comprehensive and unprecedented review of Baltimore City's homestead tax break program. And it's not an isolated incident. A program designed to be a temporary fix for soaring home prices in the 1970s has turned into a leviathan that perpetuates inequality, robs the city of more than $100 million a year in revenue and helps lock Baltimore into a property tax rate that is nearly twice as high as any other jurisdiction in the state.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | March 27, 2011
This month, the Baltimore office of Ballard Spahr LLP closed a $460 million real estate deal β€” the largest U.S. sale of multifamily dwellings outside New York in the past three years, according to commercial real estate industry players. The deal was a coup for the office, which represented the buyer of eight apartment complexes in Maryland and Northern Virginia that contain more than 2,500 units. Marci Gordon, the partner who led Ballard Spahr's team of lawyers during the seven-month negotiation, said the acquisition of the apartment buildings, known as the Magazine Portfolio, by a joint venture of Pantzer Properties and Dune Real Estate Partners showed the strength of rental properties, which have benefited from the continuing slump in the for-sale housing market.
FEATURES
By Timothy B. Wheeler, The Baltimore Sun | February 16, 2011
Business has been slow lately for Earl E. "Gene" Preston Jr. In better times, the Fallston-based contractor said, he had about 15 workers servicing and installing septic systems for homes and businesses beyond the reach of public sewer in the Baltimore metropolitan area. Lately, though, with the real estate slump dragging on and harsh winter weather hindering what little construction there is, Preston said, he has had to lay off five of his employees. He is worried he may have to let more go if legislation backed by Gov. Martin O'Malley passes that would either bar or raise the cost of building new homes on septic systems across Maryland.
HEALTH
By Andrea K. Walker, The Baltimore Sun | September 17, 2010
Mercy Medical Center is converting a former Giant grocery store in Lutherville into a hub where patients can go for lab work, minor surgeries and to visit primary care physicians. Urgent care centers such as Patient First and Doctors Express are taking over retail spaces in high-traffic areas, including where a Roy Rogers fast-food restaurant was once located. And Thomson Reuters this summer opened its first branch dedicated to health care research in Woodlawn office space, where more than two dozen employees will provide data and analysis to the federal government.
BUSINESS
By Audrey Haar and Audrey Haar,Staff Writer | June 13, 1993
Ocean City -- Ocean City continues to attract a wave of tourists, but the real estate market is stagnant.The tourists are still coming to the seashore but their visits are less frequent and shorter. And when it rains weekend after weekend, as it did last year, people aren't inclined to stay even for a vacation, much less to buy a home.In addition, the sluggish economy has taken a toll."The economy is always a factor for us because we are a second-home market. We are the first ones to be cut out," says Barry Weir, president of the Ocean City Association of Realtors and sales manager of English Realty in Ocean Pines.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | November 20, 2005
Peter Schmidt, a property manager in New Orleans, is one of the lucky ones. His condo, in an 1870 building in the French Quarter, was undamaged when Hurricane Katrina struck Aug. 29. So when he decided to list the 600-square-foot unit for sale in late October - after taking a job in California - he set the price at $299,000, nearly double what he would have asked before the hurricane. After all, Schmidt said, thousands of people in New Orleans are looking for places to live and he had been hearing that homes in good condition were commanding a premium.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | August 2, 2010
First Mariner Bancorp reported Monday that it lost $4.7 million in the second quarter, nearly double the loss of the corresponding quarter a year earlier. On a per share basis, the parent company of Baltimore's 1st Mariner Bank lost 28 cents per share, compared with 37 cents the year before. First Mariner Chairman and Chief Executive Edwin F. Hale Sr. blamed the soft economy and weak real estate market for the downward pressure on earnings. The company set aside $4.4 million for loan losses in the second quarter, a 52 percent increase over a year earlier.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | June 28, 2010
Buyers snapped up townhouses alongside the Inner Harbor for as much as $1 million off the asking price at a Monday night auction that experts say could help reset prices in Baltimore's languishing luxury real estate market. The auction β€” held at a Baltimore Marriott Waterfront hotel ballroom where bidders were greeted with an ice sculpture and served dishes such as pork tenderloin β€” drew about 400 people, 135 of whom registered to bid. After the action started, the development partners put more units on the block than originally planned and sold 18, all for hundreds of thousands of dollars off. The most expensive of the Pier Homes at HarborView auctioned off was a 3,732-square-foot unit.
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