News People Events Jobs Resources Store

1 Carl Verstandig buys Iverson mall in Prince George's County - Baltimore Business [7/20/2014 11:11:41 AM]Carl Verstandig has bought his largest property yet, an800,000-square-foot Prince George's County mallSun Products puts 900,000-square-foot plant in SoutheastBaltimore on the marketCanton's St. Brigid School eyed for rental housingredevelopmentB&O Railroad Museum roundhouse to receive $400,000 inupdatesNLRB rules against Carpenters, Teamsters in Philadelphia3,850 jobs may eventually come to South Jersey waterfrontTake a tour of the latest happenings in Crystal City, that could wipe out 's First Source law allowed tocontinueCarpe diem, Loudoun: Biz leaders urge action on potentialSilver Line developmentBuffett-owned office tower construction firm opening ArizonaSponsored by.

2 TweetKevin LittenReporter-Baltimore Business JournalEmail|Twitter|Google+Pikesville-b ased America's Realty LLC haspurchased its first shopping mall in thelargest single-property transaction in thecompany's 's Realty CEO Carl Verstandig saidhis firm paid $27 million for the Iverson MallSign Up for the Real EstateInc. NewsletterSee all newslettersSign UpShare0 Jul 15, 2014, 10:55am EDT UPDATED: Jul 16, 2014, 7:47pm EDTCarl Verstandig has bought his largestproperty yet, a 527,000-square-footPrince George's County mallView PhotosReal Estate NowLimited Time OfferBusiness DirectoryBook of ListsUpstart Business JournalBizwomenContact UsSign InCitiesEnter your email addressCarl Verstandig buys Iverson mall in Prince George's County - Baltimore Business [7/20/2014 11:11.]

3 41 AM]Kaitlin BarkerMcCroneRob LordEvergreen HealthDavid McBrideUniversity ofMarylandTomCondraskyGlass JacobsonShirley MarcusAllenUniversity ofBaltimoreFoundationKeithCorriveauThe DolbenCompany, alert: Bids due out this summer for new Orlandoairport terminalMetro Denver homebuying hits $ billion in monthly salesMillennials say American Dream within reachTampa office properties on the market as part of behemothportfolio saleLeasing activity drives Duke Realty's next developmentFour Seasons Hotels & Resorts may be eyeing Ko OlinaResort on OahuHomewood Suites opens new hotel in Greater CincinnatiMurphy to head industrial real estate services for CassidyTurleySee Latest News from Real Estate CareerConnect Program DirectorThe Prince George s County Youth

4 CareerConnect Program | UpperMarlboro, MDWork For: New York LifeNew York Life | Opportunities in the Baltimore,Maryland AreaPage 12 CBRE Group 's Realty LLC has purchased the Iverson mall inPrince George's County for $27 LinksGet Listed HereWells Fargo Advisors Rollover GuideChanging jobs or retiring? Get a free guideto understand your 401(k) Fargo AdvisorsTop 10 Set Asides in 2014$ in prime contracting opportunities forsmall businesses. Download Full ReportToday!Set Asides ReportAdvertismentin western Prince George's County, a pricethat will allow the company to charge $11per square foot to retailers.

5 That rentalrate, which is virtually unheard of in theWashington area, has already attracted aRose's Store to the 527,000-square-footshopping center with a 70,000-square-footlease. Retail space in the area typicallyleases for more than $20 per 's Realty owns and operates morethan 200 shopping centers Iverson mall is anchored by aBurlington Coat Factory and a Forman Millsstore and was about 90 percent occupiedat the time of sale, Verstandig Verstandig is planning about $4million in renovations to the center, the realopportunity to add value to the center is a100,000-square-foot office building thatcomes with the center and is only 25percent leased.

6 He are also two development sitesVerstandig said his company will beginmarketing that could host stand-aloneretailers and Verstandig is planning anadditional 127,000 square feet of additionsto the mall . Verstandig said he is in talkswith Rite Aid about a new Store for one ofthe sites."We think there's a good opportunity for a government agency because there's three metrostations near the mall and it's near the [Washington, ] line," Verstandig said of the officespace. "The volume of People there and the location is just tremendous. [Nearby] BranchAvenue is in the midst of a massive population.

7 "|View AllKevin Litten covers Commercial Real Estate and Economic DevelopmentIndustries:Commercial Real EstateWe RecommendPromoted by TaboolaPeople on the MoveSponsored byFeatured Jobs