Business Archives - Page 28 of 47

Tastee Diner Silver Spring Sold For $3.1 Million

Published April 25, 2023 at 7:50AM

Tastee Diner at 8601 Cameron St. in Silver Spring permanently closed on March 22, at 2pm. The diner was sold on March 21 to D.C. based Roadside Development for $3.1 million according to Maryland Land Records. Roadside Development, which purchased the adjacent Capital One bank lot back in August, plans on creating a “multifamily mixed-use” redevelopment at the two sites. According to a press release, the original dining car from the diner will be incorporated into the future project.

“As a Silver Spring native myself, I have a deep appreciation for the history and culture of this vibrant community. It is a true privilege to be able to showcase Roadside’s passion for the community by incorporating Tastee Diner’s original dining car into the project,” said Jeff Edelstein, Partner at Roadside Development. “It has been a pleasure to get to know Gene over the last year. He has entrusted us with this opportunity and Roadside is honored to be able to breathe new life into the block and continue to grow this dynamic part of Silver Spring’s ever-evolving downtown.”

Hughes to Begin $14 Million Interior Work on Germantown Building

By MCS Staff

Published April 25, 2023 at 7:34AM

Last August we let you know of a joint-venture between Minkoff Development and South Duvall signing a lease with Hughes Network Systems, LLC (HUGHES) to build a 140,000 square foot build-to-suit project on Montgomery College’s Germantown Campus. According to a MarylandNewsletters report, Arium AE has pulled a building permit valued at $14 million to work on the interior of the building. Minkoff Development and South Duvall delivered the 140,000 square foot build-to-suit at 19710 Observation Drive, and in October The Hughes Network Systems Sattelite Production Facility broke ground on Monday and will be bringing approximately 300 jobs to Germantown, according to Montgomery County Councilmember and former Gaithersburg-Germantown Chamber of Commerce CEO, Marilyn Balcombe.

The campus currently is home to the Pinkney Innovation Complex for Science and Technology at Montgomery College (PIC MC) with Holy Cross Germantown Hospital as its anchor tenant. Located at 19710 Observation Drive in Germantown, Maryland, adjacent to the Hughes headquarters complex (11717 Exploration Lane), the new high-tech manufacturing building will house production of Hughes satellite broadband and networking equipment. “This new facility reflects our long-standing commitment to Montgomery County, as a local employer and business leader for more than 50 years and will help Hughes advance our mission of connecting the unconnected around the world with innovative satellite and networking solutions,” said Jim Muir, III, vice president, corporate real estate at Hughes. “We look forward to inviting students from PIC MC to learn and grow with us and continuing to engage with the community where so many of our employees live and work.

Six Montgomery County Residents Make Forbes’ 2023 “World’s Billionaire List”

By MCS Staff

Published April 15, 2023 at 9:41AM

Forbes has released its annual “World’s Billionaires List” and six currently listed as Montgomery County residents have made the list. Overall, the United States still boasts the most billionaires, with 735 list members worth a collective $4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion. To calculate net worth, Forbes used stock prices and exchange rates from March 10 to determine the ranking, but updates wealth in real time. Below are the six Montgomery County billionaires who made the list:

World Rank #402: Annette Lerner and family (Chevy Chase)

MoCo Directory Highlight: Drs. Eric and Kevin Chai Are Silver Spring Natives; Their Dentistry Now Serves The Same Community

By MCS Staff

Published April 14, 2023 at 8:18PM | Updated April 14, 2023 at 9:52PM

MoCo Directory highlight: Drs. Eric and Kevin Chai of Colesville Dentistry were born and raised in the Silver Spring area. Eric graduated from Paint Branch High School and attended the University of Maryland, College Park where he earned his Doctor of Dental Surgery (DDS) degree from the University of Maryland Dental School in 2014. Kevin graduated from Blair High School and then went on to the University of Maryland, College Park, where he graduated Magna Cum Laude from the University of Maryland Dental School.

The brothers now operate Colesville Dentistry at 724 Cloverly Street in Cloverly/Silver Spring where their mission is to give every patient the best experience possible by providing comfortable, compassionate and comprehensive dental care. Both Dr. Eric and Dr. Kevin were both named as 2023 Best Dentists by Washingtonian Magazine.

Germantown’s Recovery Point Systems Announces Jack Dziak as CEO

By MCS Staff

Published April 14, 2023 at 7:32AM

Recovery Point Systems, an Abry Partners company and a leader in cloud-based business resilience services based in Germantown, has announced that Jack Dziak, Executive Chairman of the Board of Directors, has been named Chief Executive Officer effective immediately. Dziak is a long-time senior technology executive with over 35 years of experience in the enterprise IT, infrastructure, and communications services industries.

Per the press release: Dziak has served on Recovery Point’s Board of Directors since May and as Executive Chairman since August 2022. Prior to his appointment as CEO, he was the Founder of Dziak Advisory Services LLC, an advisory firm that provides strategic, financial, and technology consulting to the digital infrastructure, cyber security, and managed services industries and their private equity and venture investors. His previous C-suite experience includes Executive Vice President Global Products and Chief Strategy Officer at Sungard Availability Services (2011-2017), with P&L responsibility for the $1.2B global recovery and managed services business, and Chief Operating Officer of Apcela, a provider of managed network and SD-WAN services. Dziak has also held multiple executive-level leadership positions with Accenture, Neustar, Inc., Sprint Nextel, and MCI Communications. His early career was spent as the lead financial economist for the privatization of national telecommunications concerns in over 20 countries. He holds an MBA from the University of Chicago Booth School of Business and a B.S. in Economics from Virginia Tech. He is a Chartered Financial Analyst (CFA).

Gaithersburg Apartment Complex Sells For $46.1 Million

By MCS Staff

Published April 11, 2023 at 5:44PM

Acento Real Estate Group, previously known as Finesa Real Estate Group, has purchased the three-story, 238-unit Governor Square Apartments located at 409 Muddy Branch Rd in Gaithersburg. Acento is an investment management and operating company specializing in value-driven investment management strategies and property management services that’s headquartered at 8120 Woodmont Ave in Bethesda. The apartment complex was sold for $46.1 million according to a report by Maryland Newsletters.

The Governor Square Apartments were built in 1968 and offer leases for 1, 2, 8, 9, 10, 11, 12, 23, 73, 97 months. The property boats of being “centrally located alongside the I-270 corridor, Governor Square is just minutes from excellent shopping, dining, and entertainment options, and commuting options. Our one, two and three-bedroom floorplans provide comforts designed with you in mind. Stop by Governor Square; we’re certain to have an apartment home that perfectly fits your lifestyle.”

Germantown’s Deka Biosciences Announces First-in-Human Dose in Phase 1 Clinical Trial of Cancer Treatment

By MCS Staff

Published April 8, 2023 at 7:41AM

Deka Biosciences (“Deka”), a clinical-stage biotechnology company headquartered at 20271 Goldenrod Lane in Germantown and focused on developing novel cytokine therapies to treat cancer and inflammatory diseases, announced that the first subject has been dosed in a Phase 1 clinical trial of DK2¹⁰ (EGFR) at NEXT Oncology in Fairfax, Virginia. The Phase 1, first-in-human, multicenter clinical study seeks to characterize the safety, potential efficacy and evaluate possible biomarkers of response to DK2¹⁰ (EGFR) in patients with advanced solid cancer(s) who are expressing epidermal growth factor receptors (EGFR) (NCT05704985).

Per the press release: “We are beyond thrilled to begin the clinical trial of DK2¹⁰ (EGFR), marking our first program to enter clinical development,” said John Mumm, Ph.D., President and CEO of Deka. “Importantly, we anticipate that the results of the study will confirm the clinical safety, pharmacokinetics, exploratory efficacy and correlative biomarker responses to our first Diakine^TM, establishing a solid foundation for the expanded use of this treatment in cancer patients.”

Kindbody Bethesda Has Opened in Rockville; Maryland Clinic Expanding Access to High-Touch Fertility Care to Employers and Consumers in the DC Metro Area

By MCS Staff

Published April 8, 2023 at 7:32AM

Kindbody, a technology-driven fertility clinic network and family-building benefits provider for employers, announced the opening of a new clinic– Kindbody Bethesda. The clinic is located at 6000 Executive Blvd in Rockville/N. Bethesda. The announcement comes at a time of extraordinary growth for the company which owns and operates 32 clinics nationwide, including a state-of-the-art fertility clinic and IVF lab conveniently off of Dupont Circle and 19th Street in Washington, D.C. Kindbody Bethesda was built to meet the growing demand for comprehensive fertility and family-building benefits by local employers including Kindbody client GEICO, which is headquartered in Chevy Chase, MD, and employs nearly 7,000 corporate associates in the greater Washington, D.C.metro area. In addition to GEICO, Kindbody serves 21 large employers in the region, covering more than 27,000 lives.

Per the press release: “Since opening our doors in Washington, D.C. last spring, we’ve seen unprecedented demand from local employers who understand the critical role fertility benefits play in attracting and retaining world-class talent and building inclusive workplaces,” said Taryn Branca, Chief Revenue Officer at Kindbody. “Our new Bethesda location allows them to provide a premium fertility benefit with significant cost savings, as a result of working directly with the healthcare provider.”

MTV Announces That Gaithersburg Non-Profit Will Be Among 22 Organizations to Receive Grant For ‘Mental Health Action Day’ in May

By MCS Staff

Published April 8, 2023 at 7:22AM

MTV Entertainment Studios announced that Gaithersburg’s Passion for Learning is among 22 non-profit organizations in more than 20 cities that will receive grant funding for local activations taking place on the third annual Mental Health Action Day on Thursday, May 18, 2023.

Passion for Learning | Gaithersburg, MD | Take Action! For Mental Wellness event on Mental Health Action Day 2023 will provide an opportunity for high-school and college-aged students to take a meaningful break from the hustle and grind of AP tests and final exams and discover strategies for reclaiming their mental wellness through guided meditation and deep relaxation. This event will be hosted at the Takoma Park/ Silver Spring campus of Montgomery College and will be open both to students and to the local community.

Gaithersburg’s Adventist HealthCare and Howard University Faculty Practice Plan Form Management Agreement

By MCS Staff

Published April 7, 2023 at 7:20AM

Gaithersburg’s Adventist HealthCare and Howard University announced that they have signed a Management Services Agreement, effective April 1, 2023, in which Adventist HealthCare will support and manage all practice operations at the Howard University Faculty Practice Plan (the “Faculty Practice Plan”). The Faculty Practice Plan is the employed physician practice of Howard University that supports the medical school, hospital and the community. Offering multiple specialties, the practice is closely connected to the College of Medicine and the hospital as well as provides the community with access to needed medical services.

Per Adventist HealthCare: Under the Management Services Agreement, Adventist HealthCare will bring in a new leadership team that will work closely with the Faculty Practice Plan, physicians and leaders at the university. The importance of a strong physician network to support the growing needs of the community is integral to the shared commitment of both organizations to provide culturally sensitive, patient-centered health and wellness services to all, including high-risk and underserved communities.

Shady Grove Medical Center Heart Care Team Earns Highest Recognition from American College of Cardiology

By MCS Staff

Published April 6, 2023 at 7:20PM

Adventist HealthCare Shady Grove Medical Center has been awarded The American College of Cardiology’s (ACC) ultimate national recognition for demonstrated commitment to comprehensive, high-quality cardiovascular care. Shady Grove Medical Center has earned the HeartCARE Center National Distinction of Excellence based on accreditation criteria and through its ongoing performance registry reporting. The National Distinction of Excellence is the highest recognition a hospital can receive from the ACC. This designation demonstrates an elite status and highlights an outstanding commitment to quality for cardiac patients, providers and stakeholders.

Per Adventist Healthcare: Shady Grove earned the ACC HeartCARE Center designation by meeting a set of criteria, including participating in at least two ACC Accreditation Services programs, targeted quality improvement campaigns and the National Cardiovascular Data Registry. The registry empowers healthcare providers to consistently treat heart attack patients according to the most current, up-to-date guidelines. “The entire cardiovascular team at Shady Grove Medical Center is to be congratulated on this award,” said Dennis Reed, Director of Imaging and Cardiovascular Services. “We are the only Center in Maryland to earn this recognition, and it recognizes the quality of cardiovascular care at Shady Grove as well as our commitment to ongoing quality improvement from time of arrival through acute treatment and post-discharge care.”