Premier Management Services is pleased to announce it has been selected by a prominent family to manage a portfolio of approximately 30 properties located in and around the DMV. The portfolio is comprised largely of single tenant and multi-tenanted retail properties. In addition to the management and leasing, Premier will be assisting the client with its goal of strategically divesting much of the portfolio over a period of several years.
HIghlandtown village shopping center, Baltimoire, md
Premier is pleased to announce assisting an existing client with the acquisition of Highlandtown Shopping Center in Baltimore MD. Highlandtown is a 70,000 sf shopping center in Baltimore City, anchored by Hazlo Market and it is 100% leased. As it does for many of its clients, Premier was involved in the entire acquisition process from contract to due diligence to financing to closing. Premier Management Services will manage the shopping center as well.
121 Rockville pike, 200,000 SF trophy office building
Premier is pleased to announce that it has been selected to manage Rockville Metro Plaza II, a 200,000 sf Class A office building located across the street from the Rockville Metro and adjacent to Rockville Town Center (now The Square). Rockville Metro Plaza II was formerly the headquarters of Choice Hotels, who has since relocated. Now nearly 100% vacant, Premier has been tasked with overseeing the lease-up, property and asset management. The ultimate turnaround project!
stonewood business center, 4 buildings, 150,000 sf, columbia, MD
Premier is pleased to share that in August 2025 it closed on the acquisition of a 4 building, 150,000 sf flex portfolio in Columbia MD known as Stonewood Business Center. Premier acquired Stonewood via a 1031 exchange from the successful sale of one of its portfolio shopping centers earlier in the year. The $27M purchase price represented an 8.2% cap rate on the in-place income with occupancy at 100%. Premier’s objective in acquiring Stonewood was to lock in stable long term cash flow while benefiting from what it believes will be meaningful rent increases over time due to supply constraints in the flex market. Ten year life company financing was placed with with the assistance of Northmarq. Premier Management Services will provide property management.
The 60,000 SF SHopping center repositioned and sold in edgewater, Maryland
Premier is pleased to announce that in April 2025 it sold its 60,000 neighborhood shopping center in Edgewater MD known as Main Street at South River Colony. When Premier purchased Main Street in December 2019, the center was 30% vacant and plagued with a host of issues and a negative stigma within the brokerage and tenant community. Premier immediately implemented a comprehensive marketing and events program, brought in Rosso Commercial to help with the leasing, and made various improvements to the property. The result: a 100% leased and completely transformed shopping center with a synergistic tenant mix. Premier sold the center to a prominent local business owner and was retained to manage the center.
FIve BUilding Flex Park, Burtonsville Commerce Center
Premier is pleased to announce that in January 2025 it closed on the acquisition of Burtonsville Commerce Center (BCC), a 90,000 sf, 5 building flex and office park with 35 tenants. Premier acquired BCC by way of a 1031 exchange from the successful sale of one of its Manassas flex buildings. The acquisition price was $10.1M, which equated to a 10% cap rate on the in-place income and the property was nearly 100% leased at the time of acquisition. Financing was provided by Shore United Bank. Premier’s management division will provide property management and and Donohoe will continue to handle the leasing.
The 26,000 SF building near IN BATTLEVIEW BUSINESS PARK recently sold
Premier is pleased to announce that in September 2024 it closed on the sale of a 26,000 sf flex building that Premier and its partners constructed 24 years ago and had owned and managed ever since. The building was one of two originally built by the partners on the property, with the other building having been sold to the Electricians Union for their Training Center in 2008. When a large vacancy became available recently in the second building, the IBEW approached Premier about acquiring the property at a price that made it worthwhile for Premier to sell. The Union will use the building to expand its training facility. Premier will do a 1031 exchange with the proceeds.
Montgomery Executive Center, Gaithersburg, MD
Premier is pleased to announce that on August 6, 2024 it closed on the acquisition of Montgomery Executive Center, a 120,000 sf office building with a mix of 33 office, medical and retail tenants, including a large Citibank branch. The property was purchased from a Brookfield REIT affiliate and had recently undergone over $2 million in capital improvements. The $8.2 million purchase price represented a 10+% cap rate on the in-place income with occupancy at 67%. Dave Baker and Chetan Dokku of JLL represented the seller. Financing was placed by the American Armed Forces Mutual Aid Association with assistance from Northmarq. Premier Management will handle the property management.
Village shops at crosspointe, fairfax station, va
Premier is pleased to announce it has been selected by a local business owner to manage a shopping center they acquired for investment in Fairfax Station, VA. The neighborhood center is about 13,000 sf with 11 tenants including a Truist Bank, a dog salon, Pizza Hut, and a Chinese restaurant, among others.
College square shopping center, Salisbury, Maryland
Premier is pleased to announce it has been selected by a prominent regional business owner to manage a shopping center acquired for investment in Salisbury Maryland. The shopping center, known as College Square, is 86,000 sf and is located across the street from Salusbury University. Premier also assisted in the acquisition, due diligence and financing processes. Tenants include Planet Fitness, Ace Hardware, BioLife Plasma, and Dollar Tree.
Belvedere Market, One of the fourt buildings comprising the property
Premier is pleased to announce that on December 6, 2022 it closed on the acquisition of Belvedere Square Shopping Center, a 100,800 sf mixed-use lifestyle center in Baltimore, MD. Anchored by the iconic Belvedere Square food hall and Loyola University’s clinical center, the center was about 90% leased at the time of closing and comprises a mix of medical, retail, and service tenants. Some of the credit tenants include a University of Maryland Urgent Care, Truist, Verizon, and Dunkin Donuts. Premier purchased the center for $17,300,000 with first trust financing placed with Community Bank of the Chesapeake. Christopher Burnham and Andy Stape represented the seller. Premier Management will handle the property management.
Premier Management Services’ Senior Portfolio Manager JoAnn Maguire was just named Certified Property Manager of the Year by the Institute for Real Estate Management. This award recognizes excellence in property management, and dedication to IREM and the advancement of real estate management as a profession. JoAnn was also elected President of IREM Chapter 92 for 2023! We couldn’t be prouder to have this super star on our team!
The 33,000 SF building near dulles airport recently sold
Premier is pleased to announce that in October 2022 it closed on the sale of a mixed use flex/office building near Dulles Airport. Premier had owned and operated the building for many years, which was originally financed by the American Armed Forces Mutual Aid Association. The buyer was Prologis, who made an unsolicited offer to acquire the building due to its being contiguous to data center properties also owned by Prologis. The building was comprised of about 20,000 sf of flex space on the lower level and about 13,000 sf of office on the upper level. There were no brokers involved in the transaction, which yielded a roughly 33% profit relative to the acquisition price.
KOHLS at Lexington Village Shopping Center
Premier is pleased to announce that on August 17, 2022 it sold the 90,000 sf Kohl’s store at Lexington Village Shopping Center in Southern Maryland. Premier had acquired the Kohl’s store as part of its purchase 5 months earlier of the entire Lexington Village Shopping Center — see the announcement of that purchase below. The buyer was Lincoln Property Company and the brokers were Richard Murphy and Jonathan Hipp of Avison Young. The reason for the quick sale was the ability to turn an immediate profit for Premier and its investors who had purchased the property at a 7.7% cap and were able to sell the Kohl’s off at a 6.15% cap for a substantial profit. Premier will retain the remaining 5 buildings in the center, which include tenants such as Dick’s Sporting Goods, Kay Jewelers, Noodles and Company, Buffalo Wild Wings, Sport Clips, T Mobile, My Eye Doctor, and others. Premier also handles management and leasing at Lexington Village, which is currently 100% leased.
6500 Eastern Ave, Baltimore, MD
Premier managed the due diligence and acquisition of this grocery anchored center in eastern Baltimore for our client, who is also the grocery store owner/operator. Closing on the property occurred on June 15th, 2022. The shopping center consists of about 67,000 sf with 6 tenants and is fully occupied. Premier Management Services is pleased to have been retained to manage the center as well.
Lexington Village Shopping Center, Lexington Park, MD
Premier is pleased to announce that on March 31, 2022 it acquired the 162,678 sf shopping center in Southern Maryland known as Lexington Village. The property includes a Kohl’s and a Dick’s Sporting Goods, as well as 4 other buildings. Built in 2011, the property is located in St. Mary’s County almost directly across the road from the Patuxent River Naval Air Station, home to 20,000 service and support personnel. Most of the tenancy represents national credit, including Kay Jewelers, Noodles and Company, Buffalo Wild Wings, Sport Clips, T Mobile, My Eye Doctor, and others. The center was purchased from Echo Realty for $24,950,000 and Community Bank of the Chesapeake placed a 65% LTV first trust loan. Mat Adler of Newmark represented the Seller. Lexington Village was 100% leased at the time of acquisition. Premier plans to sell off the Kohl’s, which is on a separate land parcel, and hold the balance of the center for the long term. Premier Management Services will handle the property management.
One Colonial Place and Citizens Bank, Richmond, VA
Premier is pleased to announce it has been selected by National Financial Realty to manage a two building office property in Glen Allen, Virginia, just outside of Richmond. The property consists of a 117,000 square foot building which is 100% leased to Citizens Bank and a 47,000 sf neighboring office and medical building occupied by Dish Networks, Enterprise Car Rental, Pediatric Care Center, Lasik Plus, and others. Ownership plans to fully renovate the smaller property and also develop about 250 apartments on an adjoining parcel.
Rendering of Meadowbrook Plaza - Richmond, VA
Premier is pleased to announce that on December 15, 2021 it sold the Meadowbrook Plaza Shopping Center property to California REIT, United Growth. Meadowbrook is a 9 building, 183,000 sf retail complex just south of Richmond. The unrenovated center was built in the 1960s and Premier undertook an extensive renovation, including a completely new facade. The center was approximately 50% vacant at the time of purchase, but included tenants such as Walmart, Gold’s Gym, Davita, Wells Fargo, Wendy’s, Firestone, Pizza Hut, the State ABC store, and others. Premier was successful in signing new leases with two national tenants and a regional restaurant group before being approached by the United Growth REIT about a profitable off-market purchase. The sale was concluded successfully in December. The property was fully managed by Premier Management. The sale was handled by Peter Vick, Harrison Hall, and Maddy Spears of Colliers, who also handled the leasing of the property.
9188 and 9190 Red Branch road FLEX BUILDINGS, columbia, md
Premier is pleased to belatedly announce that in 2021 it was selected to manage a 5 building investment portfolio on behalf of Nichols Contracting, including the pictured 90,000 sf flex building in Columbia, Maryland which Nichols built and partially occupies. Other buildings in the portfolio include retail, office, and residential properties in Olney and Ashton Maryland, and a small flex property in Florida. Premier assists with asset management and leasing as well.
Eastgate Shopping Center - Richmond, Virginia
Premier fully managed the acquisition of this market dominant shopping center in East Richmond for one of its private clients. This 117,000 retail center is 97% leased, and tenants include Conn’s, Planet Fitness, CitiTrends, Dunkin Donuts, Shoe Show, Hibbet’s, and a State ABC store, amongst others. The deal closed at the end of November 2021. Community Bank of the Chesapeake provided financing and Premier Management is providing asset and property management.
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