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Lehman Brothers April 15

    Client Attorney Privileged/Attorney Work Product/At Request of Counsel

    College Park

  1. Lehman Makes Room for Mixed-Use Development in Baltimore Area

    Apr 14, 2015 | Commercial Property Executive

    By Scott Baltic

    A Lehman Brothers affiliate has sold a 1.15-acre redevelopment site in College Park, Md., to Gelman Enterprises, of Washington, D.C., it was announced Monday by DTZ, which represented the seller. The purchase price was not disclosed.

    2. Full Text of Stories Below

    Client Attorney Privileged/Attorney Work Product/At Request of Counsel

    College Park

  1. Lehman Makes Room for Mixed-Use Development in Baltimore Area

    Apr 14, 2015 | Commercial Property Executive

    By Scott Baltic

    A Lehman Brothers affiliate has sold a 1.15-acre redevelopment site in College Park, Md., to Gelman Enterprises, of Washington, D.C., it was announced Monday by DTZ, which represented the seller. The purchase price was not disclosed.

    The parcel, at 8430 Baltimore Ave. and known as Northgate, is currently occupied by a vacant restaurant, DTZ managing director Chris Doerr told Commercial Property Executive. He and DTZ executive managing director Jayne Shister represented the seller in the transaction.

    The property has had a checkered recent history, Doerr explained. Nearly 10 years ago, it was owned by Monument Realty, which planned to build a 204-unit multi-family development there. But the economy tanked in 2008, the project was never built, Lehman eventually took over the property and then the parcel was tied up in the Lehman Brothers bankruptcy.

    The buyer already owns the site immediately north of this one, which also is about an acre in size and is occupied by a Burger King, Michael Miller, a vice president at The Gelman Cos., told CPE. He was not at liberty to discuss Gelman’s plans for the parcels, but did say that the company might combine the two and that “The ultimate goal is a redevelopment.”...

    For full story:

    http://www.cpexecutive.com/regions/mid-atlantic/lehman-makes-room-for-mixed-use-development-in-baltimore-area/1004117454.html

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