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Joint Venture Acquires Pair of Office-Lab Buildings in Rockville

Glenline Investments & Singerman Real Estate Form Investment Partnership to Acquire, Reposition Buildings for Life Science Tenants

5640 Fishers Lane, shown here, and 12441 Parklawn Drive recently sold to a pair of investors who plan to reposition the buildings for life science tenants. (CoStar)

Article originally published by William Jordan of CoStar Research. 

Bethesda-based GlenLine Investments has partnered with Singerman Real Estate, a Chicago-based opportunistic real estate investment firm, to acquire a pair of flex buildings in Rockville, Maryland.

The buyers plan to reposition the pair of vacant buildings totaling 74,500 square feet as office-lab space in the first of a programmatic joint venture between the firms focusing on life science property investments.

JLL Capital Markets arranged the joint venture equity partnership that purchased the single-level 5640 Fishers Lane and the two-story 12441 Parklawn Drive. The buildings are located in the suburban Twinbrook Metro Park complex adjacent to the National Institute of Allergies and Infectious Diseases, which previously occupied both buildings before vacating prior to the sale.

JLL Capital Markets Senior Managing Directors Jim Meisel and Andrew Weir, Managing Director Matt Nicholson and Director Dave Baker arranged the joint venture and initial property acquisition. The buyers have retained JLL’s Danny Sheridan and Amanda Davis to provide leasing advisory services.

GlenLine Investments was formed in 2019 by Scott Nudelman, formerly a senior vice president for acquisitions with Carr Properties, with financial backing from the owners of Minkoff Development and the Fred Schnider Investment Group.

Rockville Earns Top Score for LGBTQ Support for Fourth Consecutive Year

2020 MEI Maryland Rankings

Rockville100
Baltimore100
College Park100
Columbia (Howard County)100
Frederick93
Gaithersburg93
Towson (Baltimore County)86
Annapolis84
Hagerstown68
Bowie60
The MEI rated 10 towns, cities and areas in Maryland.

City Scores Perfect Marks — Plus Bonus Points — on Human Rights Campaign’s Municipal Equality Index

Article Contributed by Rockville Chamber of Commerce.

For a fourth consecutive year, Rockville has scored perfect marks on the Human Rights Campaign’s Municipal Equality Index for the city’s commitment to the health, welfare, safety and equality of its lesbian, gay, bisexual, transgender and queer community.

Rockville scored 110/100 on the scorecard, netting 10 bonus points for its services to LGBTQ youth, homeless people, elders and members of the transgender community.

The ninth annual MEI scorecard, released Thursday, Dec. 3, analyzes and rates 506 municipalities across the country, measuring each for the inclusivity of laws, policies and services for their LGBTQ communities.

Cities are rated across 49 criteria, covering citywide nondiscrimination protections, policies for municipal employees, city services, law enforcement and the city’s leadership on LGBTQ equality.

View the full 2020 MEI report

See Rockville’s report card.

Congratulations to RCC’s 2020 Rockstars

We’re pleased to recognize this year’s RCC Rockstars that make such a positive difference in Rockville and the surrounding communities in our region.

  • Entrepreneur of the Year – Dr. Josh Funk, Rehab2Perform
  • Small Business of the Year – Clark Concepts
  • Large Business of the Year – Adventist HealthCare at Shady Grove Medical Center
  • Nonprofit of the Year – Main Street Connect
  • Citizen of the Year – Clark Kendall of Kendall Capital
  • Community Service – The Bean Bag Deli & Catering

On December 3, the Rockville Chamber of Commerce hosted its RCC Rockstar Awards. Although the celebration was a little different this year, the Rockville Chamber and iHeartRadio’s BIG100 presented a creative, fun and highly interactive event to the 2020 winners. 

The event featured a classic rock trivia contest hosted by BIG100’s midday on-air personality, Lisa Berigan and lots of door prizes. The “Best Dressed Rocker” contest judged by Victoria Jones of DC Radio Company awarded an autographed electric guitar from the world-famous Trans-Siberian Orchestra. All attendees were entered in the evening’s grand prize drawing and the winner received two domestic round trip airline tickets, compliments of Omega World Travel.   

2020 RCC Rockstars

Rockville Economic Development, Inc. (REDI) and the Maryland Women’s Business Center (MWBC) proudly sponsored the Entrepreneur of the Year award, which recognizes a person who organizes and operates a business that solves a need in a new or unique way, taking on financial risk to do so, and demonstrating  innovation, resiliency, flexibility and a unique business and marketing strategy in the process. Dr. Josh Funk, Rehab 2 Perform is the 2020 Entrepreneur of the Year.

The Small Business of the Year award recognizes a company that has been in business for at least five years and is an active member of the Rockville Chamber. Presented this year by valued sponsor M&T Bank, the 2020 Small Business of the Year is Clark Concepts

The Large Business of the Year is a company committed to the vitality and community in Rockville, employing more than 50 employees and earning more than $5 million in revenue. Presented this year by valued sponsor Angelini Pharma, the 2020 Large Business of the Year is Adventist HealthCare, Shady Grove Medical Center.

The Nonprofit of the Year recognizes outstanding practices among Rockville’s diverse nonprofit organizations. The winner has demonstrated success in creating a lasting and beneficial impact for all Rockville residents and sets a strong example for other non-profits in the community. Presented by valued sponsor Intelligent Office, the 2020 Nonprofit of the Year is Main Street Connect

The Citizen of the Year award honors a person within the Rockville community who shows exemplary service to the community and whose efforts stand out as above and beyond expectations. This person is someone who exemplifies the spirit of Rockville and has made Rockville a better place to live, work and play. Presented by valued sponsor John Marshall Bank, the 2020 Citizen of the Year is Clark Kendall of Kendall Capital

The Community Service Award is a special award this year. RCC wanted to recognize a company that has been particularly helpful and generous during the COVID-19 pandemic. Presented by valued sponsor Satisfaction Provisions, the 2020 Community Service Award winner is The Bean Bag Deli & Catering.

Congratulations again to these great individuals and organizations and thank you for the difference you make every day!

Join the Rockville Business Forum on November 16

The COVID-19 pandemic has placed enormous stress on local businesses. The City of Rockville has partnered with the Rockville Chamber of Commerce, Rockville Economic Development, Inc., and Montgomery County Economic Development Corporation to help.

Discover resources and get advice, as well as ask questions and discuss solutions at the virtual Rockville Business Forum, from 9-10 a.m. on Monday, November 16, 2020.

The forum will be held via Zoom. Access the meeting at us02web.zoom.us/j/89834426637 or call in via phone at 301-715-8592 and use meeting ID 898 3442 6637.

For more information, contact REDI Administrative Coordinator Alexis Castillo at alexis@rockvilleredi.org.

22 Rockville Companies Rank on Inc.’s Annual 5000 List

22 Rockville-based Companies Earn a Spot on Inc.’s 2020 List of 5000 Fastest-Growing Private Companies in America

This year’s class of the Inc. 5000 List demonstrates that strength and growth are possible during times of crisis and prolonged uncertainty. Leaders reported that disruptive thinking and reimagining possibilities helped their companies remain strong and experience continued growth. And the numbers support them…with a median growth of 165% and an average revenue of nearly $210 billion, this year’s 5,000 companies added nearly 583,000 jobs to the American economy.

Specifically in Maryland, businesses serving the metropolitan area and beyond, realized an average annual revenue of $2.4 billion, with more than 4,600 jobs added locally. Rockville businesses represented 30% of the Washington, D.C. metro area’s 75 companies that ranked on the 2020 list.

Listed in order of their ranking, REDI congratulates the following Rockville companies, as well as their leaders and employees, on their continued growth. Companies represent several of Rockville’s strongest industry sectors–health, technology/IT, financial services, and government services–giving further credence to the City’s desirable location, business-friendly initiatives and incentives, and cooperative spirit that supports Rockville businesses and helps them thrive and prosper.

For the full list, visit: https://www.inc.com/inc5000/2020.

Rockville Ranks Among Top Cities for Retirees by SmartAsset

Rockville Ranks #11 in SmartAsset’s List of 25 Best Cities for Retirees to Live & Work  

For many people, the ideal place to retire encompasses a balanced mix of safety, affordability and healthcare access. While some retirees plan to spend their non-working days relaxing, others plan to keep working…at least part time. A 2019 AARP study found that more than 20% of people 65 and older are working or looking for work, compared to just 10% in 1985.

In a new study, SmartAsset crunched the numbers to find the best places for retirees to live and work. It compared 525 U.S. cities across eight metrics:

  • Percentage of the population that is 65 and older.
  • Unemployment rate for seniors.
  • Housing costs as a percentage of average retirement income.
  • Estimated senior tax burden.
  • Retirement communities per 10,000 residents.
  • Medical centers per 10,000 residents.
  • Violent crime rate.
  • Property crime rate.

Rockville ranks #11 on the list of the top 25 places for retirees to live and work. For the full list, key findings, and methodology, visit: https://smartasset.com/retirement/best-places-to-retire-in-the-us.

Rockville Wins 2020 Most Educated Cities Award from Insurify

The City of Rockville is the recipient of a 2020 Most Educated Cities Award from Insurify, a free, online insurance quote comparison platform.

Winners of the award were identified by an analysis of the educational achievement of individuals across the United States. Insurify analyzed more than 2.5 million auto insurance applications, including the age and educational background of each applicant, to locate the most educated community in each state. Every individual in the data set was assigned a score based on educational attainment and grade point average (GPA), for current states. The results were then grouped by city, and the highest-scoring community in each state was selected.

“Pursuing educational opportunities demonstrates the drive to succeed, not only for oneself, but for one’s greater community,” said Insurify CEO, Snejina Zacharia. “With this award, we hope to recognize cities whose residents are exemplary in their dedication to educational achievement.”

For more information on this analysis and the full list of 2020 Most Educated Cities, visit: https://insurify.com/insights/most-educated-cities-award-2020/.

Westat Selected as Strategic Partner for Montgomery County COVID-19 Adaptation & Recovery Study

Local Research Firm Selected to Partner on Multi-year Survey of Montgomery County Businesses to Assess Impact of COVID-19 and Identify Resources Needed for Recovery. 

ROCKVILLE, Md. – May 19, 2020—The Montgomery County Economic Development Corporation (MCEDC) has selected Rockville-based Westat as its strategic partner in conducting a longitudinal COVID-19 Adaptation and Recovery Study.

This three-year survey of Montgomery County businesses will track and analyze the ongoing impact of the COVID-19 pandemic on the County’s businesses through spring of 2023. Nationally-recognized and employee-owned, Westat provides research services to agencies of the U.S. Government, businesses, foundations, and state and local governments.

“This is an important project, as data is critical for lawmakers and policymakers to make informed decisions,” said Benjamin H. Wu, President and CEO of MCEDC. “This multi-year survey will be used to guide Montgomery County’s post-pandemic initiatives and allow us to best understand the evolving issues that are priorities for the business community.”

“Businesses representing different industries, sizes, and ownership demographics will be included in our sampling plan to ensure the survey results provide a full picture of business adaptation. We are excited to partner with MCEDC to support the long-term vitality of business in our home County,” said Dr. Kerry Levin, Westat Vice President for Social Policy and Research and the project lead.

MCEDC and Westat will begin administering the first of six monthly surveys beginning in June 2020, with quarterly surveys implemented thereafter. Data analyses will be shared with the County Executive, the County Council, and external stakeholders. As the multi-year study progresses, MCEDC will provide quarterly public briefings on the survey results.

Anticipated survey topics and trends to track include business adaptation strategies during the stay-at-home order, firm closures, and unanticipated opportunities for growth during recovery, among others. The survey also intends to follow the impact of federal, state, and local COVID-19 relief dollars on local businesses.

Montgomery County Businesses Awarded $200,000 to Support Local COVID-19 Needs & PPE Manufacturing

25 Local Production Fund Recipients Include Tailors, Artisans, Tech Companies, and Commercial Printers

ROCKVILLE, Md. – May 14, 2020—The Montgomery County Economic Development Corporation (MCEDC) has selected 25 local recipients to receive maker and manufacturing grant awards totaling $200,000 from the newly created Local Production Fund.

The Local Production Fund was created to provide local small and medium-sized manufacturers/producers with the working capital necessary to make and provide essential personal protective equipment (PPE) and other COVID-19 related products. The grants range in size from $2,500 to $25,000 and will produce face shields, face masks, hand sanitizers, home cleansers, gowns, and COVID-19 testing kits, among others.

“In these difficult times, local businesses want to step up and offer their services to support Montgomery County’s PPE supply,” said Benjamin H. Wu, President and CEO of MCEDC. “The Local Production Fund is allowing homegrown innovators to pivot their operations and be creative to meet our COVID-19 needs. We’re excited to see the final products and applaud these companies.”

Juan Carlos Castillo, owner of Tierra Floral Design and Tierra Events, has pivoted from creating elaborate floral arrangements and planning events to a new role making PPE. “Thanks to the Local Production Fund grant, we have been able to access all the materials we need to produce face shields for first responders,” said Castillo, whose company received a $20,000 grant.

Aisha Khadar of Sha’s Creations, a maker of organic body products and one of the featured women-owned retailers in Maryland Women’s Business Center’s business incubator–Shop Local Rockville–also expressed gratitude for the infusion of funds. “This grant allows our company to manufacture hand sanitizer and liquid disinfecting soaps for our community,” said Khadar.

The 25 grant recipients are a diverse group with 73% of the funding awarded to companies led by women or minority entrepreneurs. They work in a variety of fields, including IT/educational consulting, robotics, tech production, automotive electronic/lighting, embroidery/screen printing, biotech, commercial printing, farming, artisan manufacturing/retail, alterations/tailors, nonprofits, and farming. The awardees are located in Silver Spring, Germantown, Bethesda/North Bethesda, Rockville, Gaithersburg, Olney, Potomac, Dickerson and Clarksburg.

The $200,000 Local Production Fund was funded by $100,000 from MCEDC and by a $100,000 special appropriation from the County Council enacted on April 21, 2020. MCEDC accepted applications for the Local Production Fund from April 22-May 1, 2020. Existing Montgomery County companies, sole proprietors and non-profits were eligible to apply for the funding. MCEDC received 51 submittals. As part of their grant agreement, by the end of August, awardees will submit a report to MCEDC detailing their progress and how the funds have been used.

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UnitedHealthcare Will Join Maryland Health Exchange Individual Market in 2021

ANNAPOLIS, Md. – May 12, 2020—Governor Larry Hogan today announced that national health insurer UnitedHealthcare has filed to offer individual health plans through Maryland Health Connection in 2021.

“We are very pleased United has chosen to enter Maryland’s individual market,” said Governor Hogan. “During this public health crisis, it’s more important than ever for Marylanders to have access to a robust marketplace with different options to suit their needs.”

Currently, two insurers – CareFirst BlueCross BlueShield and Kaiser Permanente – offer individual market health plans through the Maryland marketplace.

“UnitedHealthcare intends to offer individual plans in 2021 that provide strong coverage options for those shopping on Maryland Health Connection,” said Krista Nelson, senior vice president, UnitedHealthcare. “We look forward to working with the State of Maryland to help individuals get access to health care coverage that meets their care needs.”

Nearly 159,000 people enrolled in private plans through the Maryland health insurance marketplace, Maryland Health Connection, during the initial 2020 open enrollment period. Nearly 29,000 people have since enrolled during a special coronavirus open enrollment period, running through June 15.

“Under Governor Hogan’s leadership, Maryland has been successful in lowering premiums and strengthening the marketplace,” said Maryland Insurance Commissioner Al Redmer, Jr. “Another carrier entering the individual market is further proof that we’re moving in the right direction and have successfully stabilized the market.”

Maryland Health Benefit Exchange is a public corporation and independent unit of state government. It was established in 2011 in accordance with the Patient Protection and Affordable Care Act of 2010 (ACA) and is responsible for the administration of Maryland Health Connection, an online marketplace where Maryland residents can compare and enroll in health insurance as well as determine eligibility for Medicaid or financial help with private plans.

“We are thrilled to have another insurance company entering the marketplace, so that Marylanders across the state will have more options to choose a health plan that works best for themselves and their families,” said Michele Eberle, executive director of the Maryland Health Benefit Exchange.

UnitedHealthcare, a subsidiary of UnitedHealth Group (NYSE: UNH), provides health care coverage and benefits services across the United States.