Business Archives - Page 31 of 47

New 390 Unit Townhome Multifamily Development Project, ‘White Oak’, Announced by CP Capital and The NRP Group

Published January 24, 2023 at 7:01PM

A joint venture of CP Capital, a highly disciplined U.S. real estate manager specializing in multifamily investments, and The NRP Group, a leading real estate development, construction, and property management firm, today announced they will be developing ‘White Oak’ – a 390-unit, wrap-style and townhome multifamily development project. The multifamily community is situated in Eastern Montgomery County, part of the White Oak Science Gateway area. White Oak is a centrally located suburban neighborhood that is well connected to the broader Maryland and Washington, D.C. metropolitan area, with direct access to Montgomery County’s new FLASH Bus Rapid Transit System, MD Route 29, I-95, and the MD-200 Intercounty Connector. The site is also a short commute to Downtown Silver Spring with connection points to Metro’s Red Line and the to-be-built Purple Line. The project is expected to break ground in the first quarter of 2023. First units are expected in the third quarter of 2024, with construction expected to be completed in the second quarter of the following year.

“Silver Spring has benefited tremendously from its central location within the Washington, D.C. metropolitan area, as nearly a quarter of its population is employed by a governmental agency – insulating the local economy from recent economic downturns,” said Kristi Nootens, Co-Head of CP Capital. “We look forward to continuing our partnership with The NRP Group and delivering White Oak in this thriving suburban submarket while creating lasting value for investors.” White Oak will feature Class-A unit interior finishes such as stainless-steel appliances, quartz countertops, and vinyl wood flooring. Community amenities will include an enclosed courtyard, sundeck and pool, outdoor cooking and dining areas, work-from-home amenities, a dog park, pet spa, and an expansive fitness center.

MoCo’s First Full-Time Comedy Club to Launch January 20 In Gaithersburg; 50% of Proceeds Go to Local Charities

By MCS Staff

Published January 16, 2023 at 11:19AM

On January 20 ‘Give a Hoot’ comedy club, the first ever full-time comedy club in Montgomery County, will launch at La Mexicana in Gaithersburg with a twofold mission: to show patrons a great time, and to give back to the local community. According to the Gaithersburg-Germantown Chamber of Commerce, ‘Give a Hoot’ will give 50% of its proceeds to local charities. In addition to comedy shows, the club will also feature murder mystery and hypnotist acts.

Per the press release: The brainchild of co-founders Irwin Weinstein and Ken Watter, local comics who have collectively produced and performed in over 1,000 shows, Give A Hoot comedy club aims to fill an entertainment niche in the region – offering access to some of the East Coast’s most beloved comics on a predictable and accessible basis.

Beyond MoCo: Kite Announces Plans to Expand Cell Therapy Manufacturing Operations, Add 100 New Jobs in Frederick County

By MCS Staff

Published January 15, 2023 at 11:52AM

Kite, a Gilead Company (Nasdaq: GILD), today announced plans to expand its global cell therapy supply chain operations in Frederick County. This year, the California-based company will begin construction on an approximately 70,000 square-foot centralized raw materials warehouse that will serve Kite’s global manufacturing network and will be located adjacent to its existing facility in the Urbana Corporate Center. The expansion will bring an additional 100 jobs to the area, with the company expecting to employ more than 500 full-time staff between its two facilities by the end of 2026.

“As the global leader in cell therapy, it is important to continue to streamline our manufacturing processes to meet the needs of people living with difficult-to-treat blood cancers. Centralizing our raw materials storage and testing will enable us to bring control of materials in-house to increase the speed and efficiency of our global manufacturing operations so we can continue to grow to meet patient demand,” said Chris McDonald, SVP & global head of technical operations, Kite. “Additionally, by locating these global operations in Maryland, we can serve both our European and California manufacturing operations in the same day. With three major airports in the area, we have increased flexibility in receiving and shipping materials, which is critical for patients who are waiting for our therapies.”

Silver Spring’s Riderwood Appoints John Porter as New Associate Executive Director

By MCS Staff

Published January 14, 2023 at 4:06PM

This past fall, John Porter was appointed associate executive director at Riderwood, the Erickson Senior Living community in Silver Spring, Riderwood announced in a press release earlier this month. Porter, who most recently served as director of dining at Ashby Ponds, an Erickson Senior Living community in Ashburn, Va., began his senior living career at Riderwood almost 15 years ago. In that time, he’s proven himself to be a dedicated and effective leader who excels at supporting both residents and staff. “We are excited to welcome him back to Riderwood, where he will serve the community at the highest level,” says Dee Dee Gray-Weaver, Riderwood’s executive director. “Our residents will benefit from his proven leadership, expertise in senior living, and unwavering desire to help.”

Believe it or not, Porter has longstanding professional and personal ties to Riderwood. His mother, Sharon Porter, has lived at the community since 2003. “It is a great honor and opportunity to return to Riderwood at this stage in my career,” says Porter. “I look forward to working directly with community members, including my mom.” A graduate of the University of Baltimore with a bachelor’s degree in business administration and management, Porter spent his first years out of college working in the restaurant and mortgage industries. When his parents decided to move to Riderwood, the decision changed not only their lives, but his own as well.

MoCo-Based Business Previously Featured on Shark Tank, CertifiKID, Acquires Hulafrog

By MCS Staff

Published January 14, 2023 at 10:10AM

MoCo-based CertifiKID (headquartered in Potomac), a “deal website” for parents that was previously featured on Shark Tank, has announced its acquisition of Hulafrog- a digital media company that helps parents […]

Gaithersburg’s Adaptive Phage Therapeutics Announces First Patient Dosed in the PHAGE Clinical Trial Evaluating Phage Therapy in Cystic Fibrosis-related Respiratory Infection

By MCS Staff

Published January 13, 2023 at 5:00PM

Gaithersburg-based Adaptive Phage Therapeutics, Inc., (APT) a clinical-stage biotechnology company (located at 708 Quince Orchard Rd) advancing the APT phage bank, the world’s largest therapeutic phage initiative for treatment of bacterial infectious diseases, announced the first patient has been dosed in the PHAGE clinical trial, evaluating bacteriophage therapy in adults with cystic fibrosis (CF) who carry Pseudomonas aeruginosa (P. aeruginosa) in their lungs. The trial is evaluating whether the bacteriophage, or “phage,” therapy is safe and able to reduce the amount of bacteria in the lungs of volunteers. The trial is being conducted by the Antibacterial Resistance Leadership Group (ARLG) which consists of more than 100 leading experts, working together to combat the ongoing antibacterial resistance crisis and improve patient care. ARLG is funded by the National Institute of Allergy and Infectious Diseases (NIAID) at the National Institutes of Health (NIH). The investigational phage therapeutic, WRAIR-PAM-CF1, was developed by the Walter Reed Army Institute of Research (WRAIR) and is licensed to and manufactured by APT. The trial is expected to enroll a total of 72 patients at multiple sites across the country.

Per the press release: “At Adaptive Phage Therapeutics, we are committed to developing innovative treatments that address the growing problem of antibiotic resistance,” said Greg Merril, CEO of Adaptive Phage Therapeutics. “We are proud to be a part of this important trial and look forward to working with the ARLG, NIAID, WRAIR, and the CF community to bring new hope to those affected by this devastating disease and secondary respiratory infection.”

Rockville Apartment Complex Sells For $90 Million

By MCS Staff

Published January 13, 2023 at 11:47AM | Updated January 13, 2023 at 12:42PM

Fairstead grows Maryland footprint with the acquisition of Villas at Rockville, announces a rebranded residential campus as The Ivy Rockville. According to Biz Journals, the 210-unit Villas at Rockville (1699 Yale Place) were sold for $90 million. Additional information in the press release below.

Press release: Fairstead, a purpose-driven, vertically integrated real estate company committed to sustainable development, and InterVest Capital Partners today announced the acquisition of Villas at Rockville, a residential community in the Shady Groveneighborhood of Rockville, Maryland. The community consists of 210 spacious townhomes, averaging more than 1,900 square feet of living space, and will be rebranded as The Ivy Rockville.

MCPS Director, Elaine Chang, Graduates from Leadership Maryland 2022

By MCS Staff

Published January 11, 2023 at 6:43PM

Elaine L. Chang, director of the Department of Partnerships, graduated from Leadership Maryland as part of the Class of 2022. She was one of 49 people to complete the professional development program dedicated to building a better Maryland by harnessing the strength of its local business and community leaders. Each member of this year’s class was chosen by a committee to complete Leadership Maryland’s eight-month hands-on learning program. The class participated in five, two-day sessions focused on issues impacting economic development, education, health and human services, criminal justice, the environment and multi-culturalism/diversity across the state. Leadership Maryland honored the Class of 2022 at a graduation ceremony on December 6th. Other Leadership Maryland Class of 2022 graduates:

Emily E. Arneson
Director of Government Relations
Kennedy Krieger Institute

Gaithersburg’s Novavax Names John C. Jacobs as New President & Chief Executive Officer

By MCS Staff

Published January 11, 2023 at 2:39PM

Gaithersburg-based Novavax, a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, announced that John C. Jacobs will succeed Stanley C. Erck as President and Chief Executive Officer and a member of the Board of Directors. The transition will be effective as of January 23, 2023. Mr. Erck will serve as an advisor to the Company for the next fifteen months to enable a smooth transition.

Per the press release: “As we prepare for Stan’s retirement, the Board reflects on the incredible legacy he leaves behind,” said James F. Young, PhD, Chairman of the Board of Directors. “Stan led Novavax from a clinical development organization to a global commercial vaccines company during a worldwide pandemic. This foundation puts Novavax in a strong position to execute on its long-term strategy, and we look forward to supporting Stan and John through the transition. John is a seasoned industry leader who will bring a fresh perspective and deep industry expertise to Novavax.”

Gaithersburg’s Sodexo Live! Announces Executive Leadership Change, Appoints Belinda Oakley CEO, North America

By MCS Staff

Published January 11, 2023 at 7:15AM

Gaithersburg’s Sodexo Live! has announced the appointment of Belinda Oakley as its new Chief Executive Officer, North America. Per the press release: A proven international business leader with two decades of foodservice management experience who has successfully led enterprise growth strategies through operational excellence, innovation and the development of high performing teams, Oakley takes over to lead 20,000+ team members at 150+ partner venues throughout the US and Canada.

Oakley replaces outgoing CEO Steve Pangburn who will stay on to help with the transition through the end of March 2023 in an advisory capacity. Pangburn has opted to step down, in order to spend more time with his family in France, where he will continue working with Sodexo.

Zimmerman’s Hardware in Burtonsville Has Been Sold

By MCS Staff

Published January 10, 2023 at 8:55PM

Per the Aubuchon Company: Craig Zimmerman, James Dillon, Ronald Zimmerman, and Gary Zimmerman have agreed to sell Zimmerman’s Hardware in Burtonsville, MD to the Aubuchon Company, the oldest and largest family-owned hardware store chain in America. Following the closing early this year, the Aubuchon Company will operate 111 stores in 9 states.

“Since 1985, Zimmerman’s in Burtonsville has been a destination for customers in Montgomery, Howard, and Prince George counties,” said William E. Aubuchon, IV, President & CEO. “I admire their strong offering of hardware, decking, and power equipment, but what really stands out is their long-standing commitment to the absolute best customer service.”