High-end, LUXURY apartments in Hyattsville, Maryland marketing business in Nigeria, Economic Development Incentive Fund awards first loans, and a new Arby’s in Adelphi
From MHN Online, September 14th will mark the groundbreaking of a new 283-unit luxury apartment community called 3350 at Alterra. The apartments will be 1-3 bedrooms in size. The development is from Silver Spring, Md.-based full-service residential and commercial real estate consulting firm Grady Management Inc. This mid-rise multifamily community will be located along Toledo Terrace in Hyattsville. The luxury apartments are the first phase of a mixed-use, planned redevelopment of the rental complex called Belcrest Plaza. 3350 at Alterra will feature a pool and fitness center, cyber cafe, lounge and game room. The community will offer bike storage in addition to its parking garage. Enhancing the commuter convenience of 3350 at Alterra is its proximity to the Prince George’s Plaza Metro, which is just steps away from the development. Community members, politicians and media representatives are expected to attend the groundbreaking celebration to be held September 14 at 10 a.m. My question is: how much will the rent be?
Washington Business Journal reported under the tagline “Mice and Pizza” Prince George’s County Awards First Loans from $50 million EDI,which I think is an underhanded way of lowgrading PGCo even in business news. Did you really have to put the word “mice” in the title, especially when that’s NOT the gist of the awardees business? whew. In short the two awardees are Clifton Broumand, owner of Man & Machine in Landover and Irfaan Lalani, who owns 5 Little Caesar’s Pizza restaurants throughout PGCo. Read on.: Landover-based Man & Machine Inc. will borrow $500,000 from the fund to expand its 10,000-square-foot facility by an additional 8,500 square feet, and hire 19 more employees (while retaining its existing 25-strong staff) by 2015. Man & Machine, launched in 1982 by Clifton Broumand, produces dishwasher-safe, medical-grade computer accessories targeted to the medical, governmental, industrial and educational sectors. Its products include waterproof keyboards and mice, mobile keyboards for the Blackberry, privacy monitors and customized engineering solutions.
Irfaan Lalani, owner of five Little Caesars franchises, will open his sixth and seventh in Mount Rainier and Bladensburg with the aid of a $300,000 EDI fund loan. The terms: 5.5 years at 5.25 percent interest. Iannucci said the franchises will create 40 part-time positions and six full-time jobs.
SlickArt leased 810 square feet at Kettering Crossing, Upper Marlboro, Md. from 51 Kettering, LLC. Mackler and Brian Mitchell represented the landlord in the transaction. I am, as of publishing time, not sure what SlickArt is and am frankly too tired to Google my way through it. Arby’s signed a one- ground lease with Third CEW Properties and Sunrise Equities Corp. for a new restaurant at 2001 University Blvd., Aldelphi, MD. I didn’t know Arby’s was still expanding or even a major player in the fast food game.
Maryland’s Department of Business and Economic Development said Wednesday it has opened its first African foreign trade office based in Nigeria. Sub-Saharan Africa is the second fastest growing region in the world, and it is a market that we want to explore,” Christian Johansson, secretary of the state’s economic development office, said in a statement. The Business and Economic Development Department hired DC firm, Grid2Grid to run the Nigeria office. Their work is on a “contingency basis,” according to Washington Business Journal, so they get paid when they attract jobs and businesses to Maryland. How’s that for inspiration?