News

On June 5th CREDA submitted comments on the Maryland Department of Environment’s draft Building Energy Performance Standards urging the department to make changes to ensure building performance targets and Alternative Compliance Fees are technically feasible and financially realistic. The 2022 Climate Solutions Now Act (CSNA)…

Stakeholders representing the local commercial real estate development, brokerage, medical, and economic development sectors presented their opinion on deliverables needed to maintain the renaissance underway in Baltimore City at a recent seminar sponsored by the Baltimore Business Journal.   Shelonda Stokes President, Downtown Partnership of Baltimore “More than…

Montgomery County Executive Mark Elrich has proposed a 10-cent property tax increase that would raise an additional $220 million to fund education. The increase is included in Elrich’s $6.8 billion spending plan for fiscal year 2024. The County Executive says the increase is needed to finance the Montgomery County Public…

Once upon a time, gas stations only sold gas. But, beginning in the 1950s, with Americans clocking in longer hours at work, the convenience store (C-store) model was conceived as a way to provide time-depraved consumers with new options to pick up a gallon of milk or…

Commercial real estate professionals are still sorting out the long-term impact of the quick-hitting banking crisis, with fears ranging from tighter borrowing guidelines causing construction slowdowns to liquidity issues to lower property valuations which will negatively impact municipality revenues. According to Bill Libercci, NorthMarq Capital’s Senior Vice President, fast-rising interest…

The 2023 Maryland General Assembly Session is in the books. The CREDA State Legislative Committee, under the leadership of Tom Pilon of St. John Properties, continued to serve as the leading advocate for commercial real estate in Annapolis.  During the 90-day session, the CREDA Legislative Committee: Reviewed more than 2,200…

Rising interest rates, construction materials costs, tenant improvement expenses and higher vacancy rates among commodity office buildings in the suburbs have encouraged economists and real estate professionals to dub 2023 as “the year of increases.” When combined with the enduring work-from-home dynamic and talk of a possible recession arriving later…

Cyberattacks can wreak long-term havoc on all industries, including the commercial real estate sector, with higher-profile companies increasingly susceptible to security breaches that can cause both economic loss and reputational damage. With the frequency and complexity of these instances growing, IT experts are urging companies to safeguard their assets by…

Stepping before a sold-out, 14,000-person audience this Friday, Bruce Springsteen and the E Street Band will kick off what developers hope will be glorious new days for an old Baltimore arena. Following 10 months of fast-track renovation, the Oak View Group has completed a $250 million transformation…

The Maryland General Assembly moved more than 700 bills before the 69th-day crossover deadline and has headed into the stretch run of the 2023 Session. The crossover deadline serves as the cut-down date for legislation. By that date, the House and Senate need to pass bills in order…