We wish you a happy & healthy holiday season, and thank you for doing business with us!

Welcome to Corridor Reznick's first edition of our new quarterly newsletter. In it we'll present our view of "What's Next" and also keep you informed about the many opportunities here at Corridor Reznick.

Corridor Reznick Establishes Presence In PA

Corridor Reznick has become a licensed broker in Pennsylvania.  The Company, with headquarters located in the Inner Harbor of Baltimore, wants to take advantage of a growing market for the sale and leasing of commercial space in the I-83 corridor as well as opportunity for development throughout the southern sector of the state.

CORRIDOR SECURES INDUSTRIAL LISTING
Corridor has already secured a listing for a 58,000 square foot manufacturing and distribution building (pictured below) in Shrewsbury, PA which it is marketing for lease or sale.

MULTI-USE PROJECT IN GETTYSBURG
Corridor has also been chosen by the town of Gettysburg to develop a multi-use project which will combine residential, retail and office uses in the heart of the historic City.

REDEVELOPMENT IN YORK MARKET
Corridor is actively investigating the York market as an opportunity for redevelopment from unused manufacturing and office space into market rate apartments and condominiums. Neil Katz, Corridor’s CEO, believes that “…the redevelopment of the downtown area highlighted by the new Courthouse, the Sovereign Stadium, and the many new and wonderful restaurants and other nightspots will encourage people to migrate back to the Central District in droves. We are looking forward to becoming part of the rebirth of the City!”

For further information or to schedule an appointment to find a new property in Pennsylvania or help in leasing and/or selling an existing property, please contact:

John J. Hamilton
717-993-6657

410-468-1808
Jhamilton@Corridorllc.com

Is There Investment Activity In Baltimore?

ANSWER: YES!

REASON ONE: BALTIMORE IS AFFORDABLE!

From the Westside to Harbor East, the Inner Harbor to Midtown, Baltimore is in the midst of a real estate remake and has the eye of investors both domestically and internationally.  There are many contributing factors including: 

• Baltimore is the 6th least expensive city to operate a corporate headquarters; cheaper than any other Mid-Atlantic or major northeast metro area in terms of labor, energy, construction, travel and office space. 
• Baltimore ranks #10 of most educated areas in the U.S., bolstered by such renown institutions as Johns Hopkins University and the University of Maryland. 
• Baltimore was the 39th most affordable housing market in the nation in 2006, a decline from a rank of 20th in 2000, due to a 115% increase in home prices over the past 6 years; Nevertheless, Baltimore City is the 2nd most affordable housing market in Maryland and has the 23rd most affordable median home price of $139,291. 
• Baltimore’s cost of living index is significantly lower than New York, Boston, Philadelphia and Washington, D.C.-VA.

REASON TWO: ECONOMIC & EMPLOYMENT IMPACT FROM “BRAC” & PRIVATE SECTOR 

• The Defense Base Closure and Realignment Commission is in the process of relocating 40,000 to 60,000 defense workers to Maryland, primarily in the Aberdeen and Fort Meade areas.  Both areas are only about 15 minutes from downtown Baltimore, serviced by mass transportation (MARC commuter rail system).  Baltimore City has the infrastructure in place and desired services to accommodate some of this new housing demand.
• The local medical and educational institutions (Johns Hopkins, University of Maryland, Mercy Medical Center, University of Baltimore, Maryland Institute College of Art) are implementing major capital construction programs which will result in approximately 12,000 new professional jobs in Baltimore City by 2010.  These projects include:

Johns Hopkins cardiovascular and critical care tower: 913,000 sf

Johns Hopkins children’s hospital: 560,000 sf

Mercy Medical Center’s $270 million inpatient tower: 686,000 sf

Univ. of Maryland’s $328 million ambulatory care center tower: 500,000 sf

Johns Hopkins 31-acre Science & Technology Park: 1.1 million sf

Univ. of Maryland’s 10-acre BioPark: 1.2 million sf

For more information about downtown Baltimore real estate, contact Leo McDermott at 410.468.1823 or lmcdermott@corridorllc.com.

Corridor Reznick Listing Awarded Historic Tax Credit of $1M

311 W. Baltimore Street, LLC (Ownership) is the recipient of a Heritage Structure Rehabilitation Tax Credit for the Westside Garment Building, 311 - 313 W Baltimore Street, in downtown Baltimore City, up to $1.06 Million Dollars.

In case you missed it, Corridor Reznick has been making headlines!

Broker Morty Itzkowitz lands huge industrial listing - over 1 Million square feet!
http://www.bizjournals.com/baltimore/stories/2007/02/26/newscolumn1.html

President Rob Freedman was interviewed in the Baltimore Business Journal’s Small Talk Feature.
http://www.bizjournals.com/baltimore/stories/2007/07/16/smallb3.html

Broker Kimberly Cronce lists part of Peter Angelos' portfolio (Owner of the Baltimore Orioles). “The assignment is a significant one for Corridor Reznick, which has a strong presence outside the city,” according to the BBJ.
http://www.bizjournals.com/baltimore/stories/2007/08/13/newscolumn1.html