Compass Data Center: Tri-Star located underutilized 120 acre property in Loudon County, Virginia. Previously the owner had attempted to increase residential density and maximize its land value. Tri-Star re-evaluated the highest and best use for the property and identified the site as a potential location for Loudon Counties booming data center corridor. A zoning change was required. Tri-Star assembled a team to analyze the property, complete due diligence, and promote the up-zoning for the property. Tri-Star located a unique, environmentally friendly data company that worked to create a win-win situation for owner, business and citizens. As a result, the property was rezoned, sold at a significant increase in value, and is being developed as an 880,000 SF data center. The county will see significant, long term revenue increases without a significant affect to its citizenry.
Coastal Sunbelt Manufacturing Facility: One of Howard County’s major employers was in need of significant expansion and a dedicated facility in the BW corridor. Large land parcels for their use were scarce. Tri-Star located a land owner who was not willing to sell his property, but was willing to enter into a long term ground lease agreement. Tri-Star, along with partner Preston Scheffenacker Properties, analyzed the property, performed due diligence, negotiated a zoning change, and secured a beneficial long term ground lease on the property. Preston Scheffenacker constructed a 240,000 SF Class A facility for Coastal Sunbelt, allowing them to expand and keep many valuable jobs in Maryland.
Preston Gateway North: Preston Gateway North Industrial Park – This project entailed one of the largest land assemblages in the Baltimore Washington Corridor in the last 5 years. It involved nine separately deeded parcels with multiple owners and totaled 80 acres. The land abuts a planned major intersection at I-295 and Hanover Road. Our partner in the transaction, Preston Partners, Inc. is currently developing approximately 650,000 SF of industrial and office product.
Parkside Warehouse Condos: Parkside Warehouse Condos – Located just off Route 100 on Coca Cola Drive in the Patapsco Valley Industrial Park, Parkside is a custom designed warehouse condominium project with two buildings totaling approximately 130,000 SF of space under roof. The larger building is an “over-under” building housing 28 condominium units and the smaller building was custom designed for a single user. Both buildings offer ceiling heights of 20 foot clear and easy access to Routes 1 and 100 and Interstate I-95 and I-295. This project was completed in late 2006.
Merritt Properties at BWI Town Center South: Merritt Properties at BWI Town Center South – Tri-Star Development assembled 39 Acres of prime W-1 land from 6 separate sellers. Tri-Star performed all due diligence on the assemblage to facilitate Merritt’s acquisition. Currently, Merritt has designed 600,000 SF of office product with structured parking for the site.
Liberty Place at BWI Town Center South: Liberty Place at BWI Town Center South – Tri-Star and Liberty Property Trust entered into a partnership to perform due diligence and design this 28 acres assemblage located in the heart of BWI’s new Town Center South. After assembling the parcels and directing the due diligence, Tri-Star transferred ownership to Liberty. Construction of approximately 400,000 SF of office space. Construction is expected to begin in early 2008.
Breckenridge Condominium Conversion: Breckenridge Condominium Conversion – Breckenridge is a 298 unit condominium community in Gaithersburg, MD. The complex was acquired with our partners for $53M. It is currently undergoing $4.5M of renovation which is being managed by Tri-Star. The project is currently 60% complete and will result in $80M dollars in gross sales at completion.
Dorsey Professional Center: Dorsey Professional Center – Dorsey Professional Center is a 22,000 SF office building in Elkridge, MD. With contemporary architecture three stories high, adorned with an outside courtyard and a roof-top patio, this building is sure to attract attention. The building’s two-tone facade was created to compliment the neighboring building ~ seeming contiguous while still having an individual facade. This project was completed in early 2007.
Guilford Executive Center: Guilford Executive Center – Guilford Executive Center is a redevelopment project in Columbia, MD. Our team created an opportunity by purchasing an underutilized, prime piece of land and finding a higher, better use. The existing facility was a 15,000 SF moving and storage warehouse. We razed the existing building and constructed a 50,000 SF Class A office condominium. The new building was completed in June of 2007.
Chartwell Professional Park: Chartwell Professional Park is a 105,800 SF office condominium project, built on 7 acres with nine buildings. The office park accommodates a variety of professional use owners and tenants. The large signature building is a 32,000 SF medical facility. Completed in late 2005, Chartwell Professional Park has added a higher level of professionalism to the Elkridge market while providing a much needed ownership opportunity in Howard County.
Clarksville Professional Center: Clarksville Professional Center is a three story, 12,800 SF office building located in Clarksville, MD. The building is set on 1.05 acres of B-2 zoned land near the intersection of MD Routes 32 and 108. This building was designed to compliment the adjacent residential subdivision without detracting from the commercial elevation desired by the ownership group. This building, completed in late 2004, was divided into 3 commercial office condominium units.
Woodside Building: Woodside Building – Tri-Star assembled a private ownership group for the acquisition and refurbishment of 6325 Woodside Drive in Columbia, MD. The building was substantially vacant prior to our June 2007 acquisition. Partners Kascon, Inc. and Waldon Studio Architects will be major tenants and will perform significant upgrades to the property.