Fall 2013 MacRo Report – Commercial Real Estate Market Heats Up

Commercial real estate sales throughout Frederick County jumped over $100 million during the second quarter of 2013, A TDR program is under consideration and Frederick’s medical market shows resiliency.

Fall 2013 Fall 2013_Page_1In this issue of the MacRo Report:

Frederick’s Commercial Market Heating Up

MacRo expects that if the economy continues to grow at the present rate, lease rates for office and industrial properties in Frederick County should stabilize by the end of 2014.

Frederick County Considering TDR Program

A Transferable Development Right (“TDR”) program is once again being considered by Frederick County. Earlier this year, the Frederick County Farm Bureau submitted a proposed zoning text amendment to the Board of County Commissioners (BOCC). In response, the BOCC established a workgroup to evaluate the opportunity for a TDR program in Frederick County.

Manor at Holly Hills Breaking Ground

Site development and public road paving have been completed at Manor at Holly Hills. The community entrance and bridge are also completed with the exception of a few finishing touches.

The Dr. Will See You Now: Frederick’s Medical Market

Medical office buildings (MOBs) weathered the recession better than any other type of real estate, with the possible exception of apartment buildings.

Steve Cranford Joins MacRo

Seasoned commercial real estate broker Steve Cranford joined MacRo in August.