Manekin is making its presence known in Maryland.
In Towson, Columbia-based Manekin LLC, a commercial and residential real estate development company, leased 5,501-square feet of office space on LaSalle Road to USB Payment Processing. Dobbs Temporary Services, meanwhile, reached an agreement to lease 2,106-square feet of office space in downtown Baltimore on South Charles Street.
In Frederick, Manekin, has completed its second major sale in the region in the last six months, a $95.9 million deal for the Westview Corporate Center.
The 34-acre Westview campus is comprised of six buildings, totaling nearly 450,000-square feet of rentable office space.
Bechtel Power Corp., a privately owned global engineering firm, has leased the entire space, for an undisclosed amount of time. In it’s most recent year-end report, Bechtel cited $18.5 billion in revenue. Bechtel will employ about 2,200 employees on the campus, a brief stated.
“The abundance of reasonably priced debt continues to fuel low cap rate transactions in the Baltimore-Washington Corridor,” said Don Schline, Manekin’s investment services senior associate in a statement.
Schline also did Manekin’s other transaction in the region earlier this year, which represented both the buyer and seller in the $26.5 million purchase of five single-story office buildings. This property was part of the Frederick 270 Technology Park.
In addition to the Frederick transactions, Manekin has recently leased two area properties.
Since 1994, Manekin has sold more than 5.5 million square feet of office space worth more than $700 million.
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