Kristin Rebeck, Vice President, Advisory Services has been recognized as a CoStar Group Power Broker Partner for Q4 2022, based on the successful execution of a 20,000 square foot lease with Partner Veterinary Emergency and Specialty Center at Frederick Crossing in Frederick, Maryland. Each quarter, the commercial real estate information, analytics and marketing company selects the top deals completed in various major markets across the country. Rebeck was honored in the retail leasing category for the Washington, D.C. metropolitan market.
Partner Veterinary Emergency and Specialty Care is a woman-owned and led practice group providing emergency medical care to pets suffering acute trauma or weakness. In addition, a full range of care will be provided to pets dealing with allergic reactions, vomiting or eye and skin irritation. The Specialty Care division will offer internal medicine, neurology, medical oncology, cardiology, surgery and MRI and CT services. More than 70 people are expected to work at the facility upon its opening this spring.
Frederick Crossing, located at 7330 Guilford Drive, is a nearly 300,000 square foot power center anchored by Kohl’s, Best Buy, Regency Furniture and Ross Dress for Less. Additional retailers include Off Broadway Shoes, Five Below, Ulta Salon and Dollar Tree. More than 70,000 people reside within a three-mile radius of the center, including more than 28,000 households with an average household income exceeding $93,000.
According to Rebeck, the real estate search process and lease negotiation period lasted nearly two years based on a multitude of factors.
“Our first inclination when initiating the real estate search for the veterinary practice was to target flex/industrial spaces or a stand-alone building, based on the single-story and open space design characteristics, combined with the availability of parking and high-visibility,” Rebeck explained. “But we needed to almost immediately pivot, based on the high demand and extreme competition we were facing from biotech labs and inventory storage users, which were swarming an already tightening environment extending along the Interstate 270 corridor from Rockville to Frederick.
“Our next path explored residential and commercial buildings, as well as old factories and retail centers, before identifying Frederick Crossing as the perfect fit. The center features
roadside visibility from Interstate 70 and is within close proximity to MD Routes 40 and 340, as well as Interstate 270. The strong tenant base will help create immediate visibility for the practice. It also helped that the Frederick market is currently underserved in the veterinary care profession.”
Edge is a commercial real estate firm providing a full complement of advisory, leasing, investment sales, management, construction, property management and engineering services to clients throughout the mid-Atlantic region. Edge was recently acquired by KLNB. For additional information, visit www.edgecre.com. To learn more about KLNB, visit www.klnb.com.
I95 Business article can be found here.
Citybiz article can be found here.