2014 Quarterly Updates

1st Quarter 2014

We are pleased to announce the following transactions: Office Lease Renewals

  • 11 North Washington Street:
    -Gleason Flynn Emig & Foglemen, Chartered
    -Santos Postal & Company, P.C.
    -Stein Sperling Bennett De Jong Driscoll. P
  • 1010 Rockville Pike:
    -International Travel Consultants
    -Steven A. Richard
    -HRG Contracting
    -Fristner Frederic
    -Maxximus Environmental
    -Verizon Wireless
    -Corporate Chauffeured Services
    -Stephen Maczynski (new lease)
  • The Victoria:
    -California Tortilla Group
    -Coggins, Harman & Hewitt

Industrial Lease Renewal

  • 701 Dover Road:
    -W.W. Grainger, Inc.

Retail Lease enewals

  • Edmonston Crossing:
    -Revolution Cycles
    -Lens rafters
  • Wintergreen North:
    -H & R Block

Improvements

  • Continuous Improvements to Our Managed Portfolio
    Investment Properties, Inc. prides itself on great management services and continuous improvement of the properties in our portfolio. Currently, the following projects are in progress:
  • -One Church Street – Garage Renovation
    The concrete decks are being rehabilitated through a process that removes the deteriorated spalls and pot holes replacing them with new concrete and reinforcing steel. The reinforced steel in the concrete floor slabs deteriorates over time through the process of oxidation from water and road salts. All such structures (such as bridges and elevated roadways) require periodic maintenance to extend their useful life.
    Under the able direction of Linda MacDermid, the garage work has moved along through a very tough winter and is now scheduled for completion by the end of May 2014.
  • -11 North Washington Street – Elevator Cab Interior edecorating
    The elevator cabs at 11 North Washington St. have been redecorated with stainless steel and cherry wood walls to match the building’s main lobby. The result are bright new cab finishes that are as attractive as they are practical. This project was completed in April 2014.

2nd Quarter 2014

We are pleased to announce the following completed transactions:Office Lease Renewals

  • 11 North Washington Street:
    -Bergman Law, LLC & Reinstein, Glakin, Patterson and Harriott, LLC
    -Suite 540 (New Lease)
  • 1010 Rockville Pike:
    -ST Net, Inc. (Lease Renewal)

Industrial Lease Renewal

  • 850 East Gude Drive:
    -Tetracore, Inc. (Lease Renewal)

Retail Lease Renewal

  • Wintergreen North:
    -H & R Block (Lease Renewal)

Improvements

  • Construction in Progress
    The 2nd quarter found us completing some rather major interior construction projects for our tenants at One Church Street.
    -Financial Services Advisory, Suite 900, underwent a full renovation including lighting, ceiling, flooring and office reconfiguring to provide a more efficient design and more attractive offices. The entire project took several months to design and complete. The Construction Management services were performed by Linda Mac Dermid.
    -Capital Bank’s 3rd floor offices got a substantial redecorating during the spring also. New Carpet, paint, and some office reconfigurations have provided a bright new look for the Bank’s employees. All work was completed with the tenant occupying the space and this project was also managed by Linda.
    -The garage renovation project which commenced in January at One Church Street is about 90 % finished with the slab repairs having been completed during the 1st Quarter of 2014. The remaining work involves a coating on the 1st and 2nd garage levels and some finishing painting. This work should be completed in the August – September time frame. Once the final work on the garage levels is completed, the G-1 and G-3 Elevator lobbies with be redecorated with new ceilings and lighting.

3rd Quarter 2014

New Team Members

  • We are pleased to announce that George M. Carbonell joined us in the position of Senior Vice President and Director of Leasing and Sales. George brings more than 30 years of experience in the commercial real estate industry including 20 years as the Corporate Real Estate Director for Marriott Corporation and 10 years in general Brokerage with Transwestern; where he also managed the Columbia Maryland office of the firm. George has extensive experience in office, industrial and retail leasing including both Agency and Tenant representation, development and land sales. George is a graduate of Drexel University and holds real estate brokerage licenses in Maryland, the District, Virginia, Delaware and Pennsylvania.

New Assignments

  • Investment Properties, Inc. expanded its Management and Leasing portfolio in the 3rd Quarter with the addition of approximately 60,000 square feet of retail space in two (2) Washington DC and surrounding areas
  • shopping centers and about 30 tenants. White Flint Station was acquired by White Flint Partners, LLC in late August 2014 and Investment Properties, Inc. was awarded the assignment for Leasing and Management. Talbott Center was transitioned from Whalen Management to Investment Properties, Inc. as of October 1, 2014 and likewise Investment Properties, Inc. commenced Leasing and Management of that property. Christina Martin manages the White Flint property and Mercedes is the Property Manager for the Talbott Center. George Carbonell lease both properties.

Promotions

  • Gabriela Heckert has been promoted to Accountant in recognition of her excellent performance and strong work ethic.

New Office Leases

  • One Church Street:
    -Paul Williams and Nadia Krupnikova
  • 1010 Rockville Pike:
    -Joao Alvarez and Adelheid Springer
    -Labyrinth, Inc.

Retail Lease Renewal

  • One Church Street:
    -Paul Williams and Nadia Krupnikova
  • White Flint Station:
    -Davidus Cigars, LTD

4th Quarter 2014

New Team Members

  • Carolyn H. O’Neil joined Investment Properties, Inc. in December in the position of Tenant Service Coordinator. She has extensive experience in administrative support and customer service from her prior work with the Pro Mortgage Corporation. She excels in strong communication skills and brings a talent for service delivery and follow-up. Carolyn is a graduate of Frostburg State University.

We are pleased to announce the following Leasing transactions:New Office Leases

  • One Church Street:
    -Integrated Financial Services
  • 11 North Washington Street:
    -ESAC, Inc.
  • The Victoria:
    -Charles Lipscomb & Susan Engle-Winer

Office Lease Renewals

  • One Church Street:
    -Venable, LLP
  • 11 North Washington Street:
    -Houlon Berman, Finci, Levenstein & Skok, LLC
  • 1010 Rockville Pike:
    -Chadsworth Homes, Inc.
    -Rasoul Arvanaghi
    -Maxximus Environmental, Inc.
  • The Victoria:
    -California Tortilla Group, Inc.
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