King Buick GMC, located at 16200 Frederick Rd, And has announced via e-mail that it has sold the business to the Criswell group. Below is the full email sent out to customers by King Buick GMC:
“I never thought I would be writing this letter to announce that King Buick GMC will be closing. Saturday, November 19th, was the last day to purchase a new or used vehicle from King Buick GMC.
Bethesda’s Enviva Inc. (NYSE: EVA) (“Enviva,” “our,” “we,” or the “Company”), the world’s largest producer of industrial wood pellets for use as a renewable and sustainable energy source, announced that Thomas Meth, Enviva’s President, has been appointed the Company’s Chief Executive Officer and will become a member of Enviva’s board of directors (the “Board”), while retaining his title as President. The Company also announced that John Keppler, Chairman and Chief Executive Officer, is expected to assume the role of Executive Chairman, consistent with the succession plan developed by the Board. Prior to doing so, Mr. Keppler will be stepping down from his responsibilities to pursue medical and surgical treatment to address a cardiac valve issue. The Company expects Mr. Keppler, who co-founded Enviva in 2004 with Mr. Meth, to remain available to the Company, and to return in the active Executive Chairman role early in 2023.
Additionally, the Company announced that Ralph Alexander, who has been a member of the Board since 2013, will fulfill Mr. Keppler’s duties as Chairman of the Board until Mr. Keppler’s return, when Mr. Alexander is expected to become Lead Independent Director. “After careful consideration, I have decided with my medical team and family to step back and focus on my heart condition,” said Mr. Keppler. “The Board and I are delighted that Thomas Meth will serve as our next CEO. Thomas has been my closest business partner in building Enviva into the great company it is today, and I know he will continue to excel in leading Enviva’s growth trajectory as we execute our plan for the future. Thomas is an exceptionally skilled leader who has full command of all facets of the Company and has earned the respect of our employees, customers, investors, and other key stakeholders.”
The University of Maryland Strategic Partnership: MPowering the State(MPower) announced a transformative partnership to establish the University of Maryland 3 – Institute for Health Computing (UM-3-IHC), which is being led by the University of Maryland, Baltimore(UMB) and the University of Maryland, College Park (UMCP), in collaboration with the University of Maryland Medical System (UMMS) and Montgomery County. The institute is expected to open in leased space in early 2023. Final completion of laboratory and office space in the North Bethesda Metro area in 2028, according to officials. Video below shows Thursday’s announcement.
Per the press release: This new Institute will leverage recent advances in artificial intelligence (AI) and computing to create a premier learning health care system that evaluates both de-identified and secure digitized medical health data to diagnose, prevent and treat diseases in patients across the state of Maryland. “We are witnessing an unprecedented revolution in health care that is being driven by biomedical innovation, the digitization of medical records, and advances in machine learning and artificial intelligence,” said UMB President Bruce E. Jarrell, MD, FACS. “This new Institute will include all of these elements in a synergistic effect that will transform our health care system.”
Monday Properties, a real estate investment firm, acquired Park Plaza I & II, a 266,077 square foot, Class A office complex in Rockville for $42 million earlier this fall. The two-building asset, located T 2101 & 2099 Gaither Road in Rockville, is Monday Properties’ first commercial acquisition in Maryland. Located in the I-270 Life Sciences Corridor, Park Plaza I & II are proximate to King Farm, Rio Lakefront and Downtown Crown. The property is located less than a mile from the Shady Grove Metro Station and is accessible via I-270, I-370, and Route 355. Amenities include a conference center, 24/7 fitness center, yoga studio, cafe, a three-level parking garage, and outdoor features including private terraces and a plaza.
Per the press release: “Park Plaza I & II will continue to benefit from the booming life sciences industry in the region through its offering of well-located and highly-amenitized office space at a relative discount to its competitive set, “said Cummings. “This strategic acquisition of an institutional-quality office property within this highly dynamic corridor positions us for success, and we look forward to enhancing the property further to better serve our tenants.” In addition to the $3.3 million in recent capital improvements, Monday Properties plans to perform additional upgrades, starting with repositioning the lobby and conference center. These renovations will align with Monday Properties’ vision and experience delivering exceptional amenity packages that resonate with today’s tenants by providing technology-driven and innovative solutions. The firm will continue implementing key sustainability initiatives, such as providing electric car charging stations to promote energy efficiency and will focus on ESG performance with the expansion of its partnership with Alvéole to maintain urban beehives on site.
Adventist HealthCare White Oak Medical Center has been awarded the Healthcare LEED GOLD certification by the U.S. Green Building Council (USGBC) for the design, construction and operations of its more than 500,000 thousand-square-foot hospital and 48-acre campus. LEED (Leadership in Energy and Environmental Design), developed by the USGBC, is the most widely used green building rating system in the world and an international symbol of excellence.
Per the press release: LEED-certified buildings and campuses are helping to make the world more sustainable through practices that improve environmental and human health. White Oak Medical Center is the first hospital campus in Maryland to receive this prestigious Healthcare LEED Gold certification and recognition. White Oak Medical Center’s campus received the certification based on a number of design and construction features positively impacting the environment, community and the hospital. Some of these features include:
Aprio, LLP, a nationally recognized business advisory and CPA firm headquartered in Atlanta, announced yesterday that Rockville-based Aronson, LLC will merge with the rapidly growing firm. The strategic combination grows Aprio’s team to more than 1,400 team members internationally. Aronson’s 350 team members, including 42 partners, will join Aprio effective January 1, 2023. Aronson is currently located in Rockville Metro Plaza I at 11 Rockville Pike Suite 600. The combination of the two Top 100 firms marks both Aprio’s largest transaction to date and adds a physical Aprio office in the greater Washington, D.C. area. The merged companies will keep the April name and Aronson team members will serve key leadership roles in the combined firm:
Per the Aprio press release: Building upon nearly five times organic and inorganic growth over the last decade, and with the addition of Aronson’s capabilities, Aprio serves major markets across nine industry segments. The firm will expand Aronson’s strengths in Government Contracting, Nonprofit, and Construction to Aprio’s existing markets and will likewise offer the full breadth of its services, including Cybersecurity, Staffing, Data & Analytics and Wealth Management and Private Client services, to Aronson’s client base. Aprio will draw on its deep experience in Real Estate, Technology, Manufacturing, and more to provide significant opportunity for business owners and entrepreneurs in the Washington, D.C. market.
United Therapeutics (UT) recently purchased a building at 8905 Fairview Road for $11.85 million, according to the Washington Business Journal via Montgomery County property records. The transaction, which closed earlier this month on Oct. 5, also includes a parking lot across the street. Seeking Employment, Equality and Community for People with Intellectual and Developmental Disabilities (SEEC) previously owned the building, purchasing it in 2001 for $2.85 Million. Prior to the sale, this past spring, SEEC signed a lease that will take it just a few blocks away to 23,000SF building at 1300 Spring Street. The company confirmed the purchase in an email to the Washington Business Journal and said it has “no specific plans” for the site at this point.
The 33,930 SF building is very close to United Therapeutics’ 415,000 SF headquarters, which is located at 1040 Spring St. The Eye Surgery Center LLC is a current tenant in the building. UT has also recently made other purchases in the area, including 8808 Cameron Street ($2.6 Million) and the former dual hotel building at 8728 Colesville Road ($50.9 Million). Per its SEC filings, UT reported $928.8 million in revenue for first half of this year ($466.9 million in the second quarter) and $355.9 million in net income in the first half of 2022, an increase from the $200.9 million net income in the first half of 2021.
Forbes recently released its annual list of “The Forbes 400 Richest People in America” and 7 Marylanders have made it on this year’s list. Fortunes were calculated using stock prices from September 2, 2022. For more details on the list see here; for the methodology see here. Below, you’ll see the Marylanders that made the list:
143. Stephen Bisciotti (Owner, Baltimore Ravens) Net Worth: $6.4 Billion
The Washington Business Journal recently released its list of the “Fastest Growing Companies in Greater D.C.” (ranked by average percent change over the course of the last two years). Six Montgomery County businesses made the list, ranked between #8 and #48. The Montgomery County businesses are listed below:
8- Lafayette Federal Credit Union, headquartered at 2701 Tower Oaks Blvd. in Rockville, saw a 134.92% average percent change in revenue from 2019 to 2020 and 2020 to 2021. John Farmakides is President/CEO of the federal credit union.
A Maryland biotech company has taken an important next step in their HIV Clinical Trial that they hope will lead to long-term remission for participants. Rockville-based biotech company American Gene Technologies® has begun withdrawing clinical trial participants from their antiretroviral HIV medication to determine whether the gene therapy treatment works. All 7 participants have already shown safety and blood markers of efficacy, according to the press release. Full press release below:
The Gene Therapy Industry Is Poised for Enormous Growth
Emmes, a global, full-service Clinical Research Organization (CRO) that’s headquartered in Rockville and dedicated to supporting the advancement of public health and biopharmaceutical innovation, announced that it has acquired Clinical Edge. Clinical Edge trains and certifies visual function examiners at investigator sites conducting Phase I to IV ophthalmic clinical trials. The combination of Optym, Emmes’ ophthalmology certification unit, and Clinical Edge will make the organization a leader in ophthalmic certification and training services. Emmes officially rolled out the new name – OptymEdge – and branding ahead of the American Academy of Ophthalmology annual meeting, which takes place in Chicago from September 30 to October 3. This is the fifth company that Rockville-based Emmes has acquire din the last five years.
Per the press release: Emmes Chief Executive Officer Dr. Christine Dingivan, said, “This acquisition makes us a powerhouse in the ophthalmology training and certification area, a critical part of determining the safety and efficacy of new treatments for eye disease. Our fifth acquisition in less than two years, this is another positive step in our growth and globalization effort. It also reflects our commitment to investing in public health and alleviating the high burden of disease areas like ophthalmology.” OptymEdge ensures the standardization of visual function requirements for ophthalmic clinical trials across all phases of clinical development. This includes certifying and training of clinical trial center staff and maintaining a database listing their current certification status. OptymEdge has a combined base of 36 ophthalmic certifiers, most of whom are doctors of optometry and medical doctors.