CRC News

CRC Closes The Home Depot Center in Royal Palm Beach in less than 25 Days

Continental Realty Corporation announced the acquisition of a 30,500 square foot shopping center in Royal Palm Beach for $5.05 million ($165 per square foot), in a transaction that was completed in less than 25 days from start to finish. 

The project, which is 100% leased by national retailers Office Depot (25,500 square feet of space) and Mattress Giant (5,000 square feet of space), is located in Palm Beach County at 101 S. State Road 7, near the intersection of Southern Boulevard.

The Royal Palm Beach marketplace is also home to a number of big-box retailers that are located within close proximity to this project, including BJ’s Wholesale Club, Dick’s Sporting Goods, Home Depot, Lowe’s Home Improvement, and Ross Dress for Less.

CR South Acquires 73,000 Square Foot Center in Fort Myers

CR South, an affiliate of Baltimore, MD-based Continental Realty Corporation, has announced the acquisition of The Shops at Verandah, a 73,000 square foot neighborhood shopping center in Fort Myers, Florida. The project is anchored by Publix Super Markets.

Constructed in 2005, The Shops at Verandah is located at 11851 Palm Beach Boulevard and features 19 tenants including Allstate Insurance, Beef O’Brady’s, H&R Block and RE/MAX.  The center is currently 93% leased and includes a variety of specialty shops and boutiques, service-oriented retail and restaurants. The Shops at Verandah offers daily shopping conveniences to service the needs of the surrounding communities including the homeowners and residents of Verandah, a 1,456-acre master-planned community.

“Verandah is an attractive center with a robust tenant mix, including a high-performing grocery anchor, already in place,” explained David Donato, Vice President – Commercial Division for Continental. “We have begun identifying potential retailers to complement our existing roster, and expect to hit the ground running with strong leasing activity.”  

CRC Maintenance Professionals Sweep the Awards at Maintenance Mania

The maintenance staff of Continental Realty Corporation captured 20 out of the 27 total awards awarded at the recent Maintenance Mania® competition, an event annually co-sponsored by the Maryland Multi-Housing Association and National Apartment Association. We were honored as the overall prize winner and achieved individual placements of first, second, third, fourth and fifth.

Sam Gilley, who handles maintenance activities for the company’s Oaklee Village Apartments in Catonsville, placed first in the overall competition and now moves to a national Maintenance Mania® competition in Las Vegas at the NAA Annual Convention. 

Welcome Aboard!

Continental Realty Corporation has selected Crystal Frey as Vice President of Human Resources for the Baltimore-based commercial, retail and residential development  and management company. She was formerly the head of Human Resources for Marcor Environmental for the past 16 years. Ms. Frey has worked for Marcor Environmental for over twenty years, including the past 16 as head of its human resources department. She earned a Bachelor of Arts degree from Salisbury University and a Masters of Business Administration with a concentration in Human Resources from the University of Baltimore.  Ms. Frey holds a Senior Professional in Human Resources (SPHR) designation from the Society for Human Resource Management and is also a Certified Compensation Professional. She presently resides in Stewartstown, Pennsylvania.

Matt McNeeley has been selected as CRC’s new Senior Corporate Recruiter for the Baltimore-based commercial, retail and residential development and management company. For the past nine years, he was a Senior Recruiter for The Bozzuto Group. “We are extremely confident in Matt’s abilities to recognize ideal personnel matches for Continental Realty Corporation, devise strategies to attract them to the company and enhance the on-boarding process,” says JM Schapiro, CEO. Mr. McNeeley earned a Bachelor’s Degree in Mass Communications from Towson University and is an active member of the Property Management Association’s Membership Committee and its Human Resources Council.

CRC has hired John Scharlock as Vice President of Acquisitions for the Baltimore-based commercial, retail and residential development  and management company. He was formerly Vice President of Acquisitions/Dispositions for Home Properties, Inc., a multi-family Real Estate Investment Trust based in Rochester, New York. Mr. Scharlock brings more than twenty years of industry experience to the company with a focus on multi-family property acquisitions throughout the Midwest, Northeast, Mid-Atlantic and South Florida marketplaces. He was involved with the completion of more than $3 billion in transactions involving the purchase of more than 18,000 apartment units for Home Properties. In his new position, Mr. Scharlock will oversee the identification and evaluation of new acquisition opportunities from the Mid-Atlantic to the southern Florida region that match the asset profile of the company.

Continental Realty Corporation has selected Paul Kang as Acquisition Department Associate. He was formerly a Real Estate Analyst for First Capital Realty. Mr. Kang brings more than three years of diversified experience to Continental Realty Corporation. In addition to First Capital Realty, he has worked in various research and analytical management positions with CB Richard Ellis, CoStar Group and Greenwich Group International.In his new position, Mr. Kang will assist in the identification and evaluation of new acquisition opportunities in the Mid-Atlantic and southern Florida region. This includes conducting market research activities, performing analytic studies, reviewing and projecting demographics and assisting with underwriting efforts. He will also act as a liaison between the company and regional investment sales professionals.

Bill Innskeep has been hired as Project Manager for the Baltimore-based commercial, retail and residential development company. He was formerly a Construction Consultant for T. Rowe Price in Owings Mills, Maryland. In his new position, Mr. Innskeep will oversee Project Management functions involving the construction of new real estate properties, as well as renovation and improvement activities and tenant build-outs. This includes budgeting and estimating, setting schedules, acting as a liaison with third-party sub-contractor companies, managing workflow and supervising punch-out work. Mr. Innskeep brings more than 35 years of diversified experience to Continental Realty Corporation. In addition to T. Rowe Price, he has worked for Riparius Construction, Inc., Atlantic Builders Group and McCormick Construction Company.

The Shops at Verandah Joins The CRC Portfolio

CR South, an affiliate of Baltimore, MD-based Continental Realty Corporation, has announced the acquisition of The Shops at Verandah, a 73,000 square foot neighborhood shopping center in Fort Myers, Florida. The project is anchored by Publix Super Markets. The Shops at Verandah offers daily shopping conveniences to service the needs of the surrounding communities including the homeowners and residents of Verandah, a 1,456-acre master-planned community. Verandah includes more than 700 estate custom and traditional single-family homes, villas and coach homes among six different neighborhoods. Nearly 70 percent of the community is devoted to open space with amenities such as a tennis and fitness center and two championship golf courses designed by Bob Cupp, Jack Nicklaus and Jack Nicklaus II.  Constructed in 2005, The Shops at Verandah is located at 11851 Palm Beach Boulevard and features 19 tenants including Allstate Insurance, Beef O’Brady’s, H&R Block and RE/MAX.  The center is currently 93% leased and includes a variety of specialty shops and boutiques, service-oriented retail and restaurants.