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January 9, 2008

Next Phase for Cambridge

You don't get a tan like Andrew Czekaj's by living in DC - even with the last couple of days of 70 degree weather. The CEO of Cambridge Holdings, which has developed almost 6M SF since 1983 and structured the purchase or sale of another 15M, recently relocated his primary residence to Naples and is adjusting his Type-A personality to being more hands off. He's now leaving the company day-to-day operations to President Mike Scott, left, and COO Randy Jaegle, right. Yesterday Andrew happened to be in town for their monthly powow - so we thought we'd head out to their Herndon headquarters to find out what they're planning.
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October 3, 2007

Acquisition of Maryland Trade Center I & II for $57,950,000

Cambridge Property Group Limited Partnership (“CPGLP”) successfully structured the acquisition of Maryland Trade Center I & II in Greenbelt, Maryland. CPGLP represented the purchasers Sullyfield MTC LLC, MTC TIC LLC, and W&F MTC LLC which bought the property for $57,950,000 ($169.46 per sq. ft.) from WRIT Limited Partnership. Cambridge has been retained to provide Property Management, Construction and Leasing services to the property.
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October 3, 2007

WRIT Sells Maryland Trade Center to Cambridge Property Group

Greenbelt Office Towers Trade for $58M; WRIT to Reinvest Proceeds in 1031 Exchange Cambridge Property Group LP of Herndon, VA has acquired the 350,000-square-foot Maryland Trade Center complex in Greenbelt, MD, from Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) for $58 million, or about $165 per square foot.
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October 2, 2007

Management, Leasing and Construction Management For Park Center I

Cambridge is pleased to announce that it has been hired by The Northwestern Mutual Life Insurance Company to provide Property Management, Leasing and Construction Management Services for Park Center I located at 3101 Park Center Drive in Alexandria, VA. The acquisition by Northwestern Mutual consolidates ownership of all four office buildings at Park Center.
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July 9, 2007

Capital Re-structure of City Crescent for $75,000,000

Cambridge Property Group successfully placed the capital re-structure of City Crescent in Baltimore, Maryland on behalf of City Crescent Limited Partnership. Transwestern Commercial Services represented the Washington Investment Capital LLC.
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June 7, 2007

Disposition of Crown Ridge for $62,300,000

Transwestern Commercial Services ("TCS"), together with Cambridge Property Group Limited Partnership ("CPGLP") successfully structured the sale of Crown Ridge in Fairfax, Virginia. CPGLP and Gerry Trainor of TCS represented the sellers, Sullyfield Circle TIC, LLC and 1211 Connecticut Avenue Associates TIC, LLC, which sold the property to CRP-2 Acquisitions, LLC (Colony Realty Partners) for $62,300,000 ($326 per sq. ft.).
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May 31, 2007

Clarke American Building Sold for 3,000,000

Cambridge, NC, Inc. and Keystone Partners LLC successfully structured the sale of 9711 David Taylor Drive, Charlotte, NC. Cambridge, NC, Inc. and Keystone Partners LLC represented the seller, CChecks Associates Limited Partnership, which sold the property to Clarke Realty Group, LLC for $2,992,000 ($79 per sq. ft.).
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December 22, 2006

Stafford Place

This announcement appears only as a matter of record, the Undersigned Structured a Sale of Stafford Place.
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November 30, 2006

Commercial Real Estate Week

Commercial Real Estate Week Johnston, Lemon & Co., an investment brokerage and financial services firm founded in 1920, has signed a five-year lease for 21,097 square feet at 1101 Vermont Avenue, NW, a roughly 160,000-square-foot building.
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