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| Amanda Davis |
WASHINGTON, DC – JLL Capital Markets announced it has completed an equity raise for the acquisition of 5640 Fishers Lane and 12441 Parklawn Drive, two lab buildings totaling 74,500 square feet in Rockville, Maryland.
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| Jim Meisel |
JLL arranged the joint venture equity partnership between GlenLine Investments and Singerman Real Estate for the acquisition, the first of a programmatic joint venture between the firms focusing on life science opportunities in the Suburban Maryland market.
GlenLine
and Singerman intend to implement a significant capital improvement plan to
reposition the buildings into Class A lab space, with an anticipated delivery
starting in second quarter 2021.
5640 Fishers Lane and 12441 Parklawn Drive
are positioned at the epicenter of the United States’ response to the COVID-19
pandemic, immediately adjacent to the National Institute of Allergies and
Infectious Disease (NIAID) headquarters and located within a cluster of public
and private sector life science and pharmaceutical institutions.
 |
| Andrew Weir |
The project has tremendous vehicular and transit connectivity to the greater Washington, D.C. metro area via Interstate 270 and the Capital Beltway and is located one block from the Twinbrook Metro station (Red Line) and numerous walkable amenities.
Recently vacated by NIAID, who had
occupied the properties since delivery and invested significantly in reusable
infrastructure, the buildings will be reimagined into state-of-the art, Class A
lab buildings well-positioned within the 4th largest life
science market in the US.
The JLL
Capital Markets team was led by Senior Managing Directors Jim Meisel and
Andrew Weir, Managing Director Matt Nicholson and Director David Baker.
JLL Senior Vice President Danny
Sheridan and Managing Director Amanda Davis have been retained by
GlenLine and Singerman to provide agency leasing advisory services.
 |
| Matt Nicholson |
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment sales advisory, debt
placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on
JLL, please visit our newsroom.
 |
| David Baker |
About GlenLine
GlenLine Investments is a privately held real
estate investment firm headquartered in Bethesda, Maryland, formed in 2019 by Scott
Nudelman and backed by two 3rd generation Washington real
estate family companies (Minkoff Development and Fred Schnider Investment
Group).
GlenLine’s
primary focus is the acquisition and active asset management of infill
industrial, flex, life science and office properties with long-term value and
optionality for repositioning or redevelopment.
The
team is currently focused on the Washington/Baltimore metropolitan area, with
Atlanta, GA, and Boston, MA as additional target markets.
 |
| Danny Sheridan |
Since inception, GlenLine has acquired over 600,000 square feet across five projects with aggregate redevelopment potential in excess of 1 million square feet.
For more information, please email nudelman@glenlineinv.com.
About Singerman Real Estate
Singerman Real Estate, LLC (“SRE”) is a
value-driven real estate investment firm that has deep experience executing
complex transactions and unlocking embedded value through the ownership of
properties, real estate loans and operating companies.
SRE
focuses on maximizing risk-adjusted returns through investments in both debt
and equity across all major asset classes including industrial, life science,
office, hospitality, retail and multifamily, in addition to secondary real
estate asset classes.
 |
| Scott Nudelman |
Since 2010, SRE has sourced and executed, with partners, over $3.2 billion of investments across the major property types, including over $400 million of investments (over 1 million SF) of life science properties.
For more information, please email: kcarter@singermanre.com.
CONTACT:
Kristen
Murphy
Senior Manager
Public
Relations
Investor Services
JLL
One Post Office Square
Suite
3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873
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