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Baltimore Business Journal
Baltimore developer buys 124 acres near Port of Virginia
Baltimore's Atapco Properties is expanding into the southern Virginia industrial market.<\p> The development and investment firm on Tuesday said it had acquired 124 acres near the Port of Virginia. The site within the Virginia Port Logistics Park can hold a warehouse of up to 1.5 million square feet and is Atapco's first acquisition in the Hampton Roads market, a strong competitor to the Port of Baltimore.<\p>
Baltimore company shakes up C-suite after $350M deal
Baltimore cybersecurity company ZeroFox is changing up its C-suite shortly after being acquired by a private equity firm for $350 million.<\p> Dave Muse, the CEO of digital supply chain company Elemica, will take over the CEO job from founder James Foster on June 3, ZeroFox announced Tuesday. Foster will remain involved with the firm as executive chairman. Foster has served as CEO since the company launched in 2013. Under Foster, ZeroFox grew to become one of the largest cybersecurity firms in the region, with 879 employees. The firm went public on the Nasdaq through a special-purpose acquisition deal two years ago. The company went private again earlier this month as a result of the deal with Haveli Investments. <\p>
Resume gaps aren't the dealbreaker they once were, but there's a catch
Job seekers worried about gaps in their resume might still have to deal with some pushback from hiring managers, but the market today has become more forgiving to such openings than it once was.<\p> According to a recent Express Employment Professionals-Harris Poll survey, while 36% of hiring managers said they might be deterred by applicants' unexplained work gaps, the vast majority (95%) believe there are valid reasons to explain career gaps. The top reasons cited were health issues, staying home with a child, going back to school and caring for an elderly parent.<\p>
Faculty pay passes $100K at six Maryland colleges and universities
Faculty salaries are rising, and instructor pay at six Maryland schools has surpassed the $100,000 mark, according to data from the U.S. Department of Education.<\p> Johns Hopkins University in Baltimore led Maryland schools with an average full-time instructor salary of $164,410 in fiscal year 2023. The University of Maryland, College Park was the state's highest-paying public university, with average instructor pay of $149,740. Those two schools have the most faculty and non-teaching staff in the state, according to a Business Journals analysis of the data, but even smaller schools in the state are seeing pay growth. Full-time teaching staff at the 10 highest-paying schools in Maryland make an average of over $90,000, well above the national average of $82,235.<\p>
The AI boom is coming for these at-risk manager roles
For years, front-line workers have worried about automation taking their jobs. It may end up being middle managers who are most in danger.<\p> Companies are gaining access to new artificial-intelligence tools and capabilities at the same time many are re-assessing their operations in a challenging post-pandemic economic environment. That combination of potential new efficiencies and a desire for cost savings is putting management-level employees in the crosshairs.<\p>
8 things to know: $25M Roland Park senior living center to move ahead
Good morning readers — I hope you all enjoyed the weekend.<\p> I was out camping in Elk Neck State Park in Cecil County, soaking up the rays. The weather was gorgeous, and this week is shaping up to be warm and sunny after some showers early.<\p>
Local firm buys Columbia strip mall for $5.4M
A 24,000-square-foot strip mall in a popular Howard County suburb has traded for $5.4 million.<\p> Mosaic Realty Partners acquired the Columbia Gateway Plaza at 7185 Columbia Gateway Drive on May 3. The retail complex is about 90% leased with anchors that include Dunkin, Weight Watchers, Columbia Bank and the Backstage Dance Studio.<\p>
Southwest Baltimore industrial/office complex hits market for $12.5M
Two former Baltimore city firefighters who acquired a historic property in Pigtown have listed the site for sale at $12.5 million, three times what it sold for four years ago.<\p> Gaslight Square, a 100,000-square-foot office and light industrial hub at 1401 Severn St., hit the market this week after owners Ian Horowitz and Dan Mathe decided the time was right. The property is located in a dense industrial and residential community that has seen some properties change hands over the past decade linked to redevelopment spurred by Baltimore's sports complexes nearby. <\p>
European-style cafe to open in Baltimore County
An upcoming cafe will bring some European and Argentinian flare to a small shopping center nestled among several Baltimore County neighborhoods this summer.<\p> Café Luli, owned by Sarah Miller, plans to open at 10423 Stevenson Road in Stevenson this June. It will replace a space formerly home to a second location for Stone Mill Bakery & Cafe, which opened a decade ago near its flagship cafe in Green Spring Station.<\p>
Family-owned printing business changes owners after 47 years
A family-owned printing company in downtown Baltimore is under new ownership for the first time in decades.<\p> Entrepreneur Ketan Bhalani of Ellicott City acquired Curry Printing in February and has brought the business into the network of Alliance Franchise Brands, a Michigan-based company with more than 600 locations in North America. Curry Printing was started in Baltimore in 1977 and provides printing and marketing services for small and mid-sized businesses in Greater Baltimore. For now, the company will stay put at its office at 314 N. Charles St. Bhalani said he plans to expand the company's services and that the family-owned and local reputation was one reason he wanted to buy the company.<\p>
Wine-focused restaurant to open in Columbia
Titan Hospitality Group is expanding its Howard County presence with a second restaurant opening this week.<\p> Smashing Grapes, a wine-focused restaurant, will open Tuesday at 6200 Valencia Lane, Suite C125, in Columbia. The restaurant is the latest for the hospitality group, which opened its first Howard County restaurant last year and continues to expand throughout Greater Baltimore. <\p>
Hospital to build 340-unit housing complex for new medical school
Meritus Health recently broke ground on a 340-bed student housing complex as it prepares to launch the first new medical school in Maryland in over 100 years to help ease a statewide doctors shortage.<\p> Hagerstown-based Meritus Health plans for the student housing complex to include one- and two-bedroom apartments and communal spaces like a clubhouse, a commons area and a dog park. Meritus Chief Strategy Officer Dave Lehr believes a student housing facility is necessary because, like the rest of the country, Hagerstown is facing a housing shortage. <\p>
Real estate commissions shakeup will require more agent scrutiny
The National Association of Realtors and several brokerages have struck big money deals to settle an array of class-action lawsuits around real estate commissions.<\p> It might become harder for homebuyers to figure out how to pick the right agent to work with in the wake of the settlements. That's because the settlements, which now add up to hundreds of millions of dollars, will also bring with them changes in how buying agents are paid, how homes are listed and may require more buyers to pay for an agent directly when buying a home. And if buyers potentially shell out thousands of dollars or more, they will have to do their own due diligence.<\p>
Former B&B property sells for $735K at auction
A Federal Hill property that once housed a bed-and-breakfast sold for hundreds of thousands of dollars at auction this week.<\p> The former Scarborough Fair property at 1 E. Montgomery St. sold for $735,000, including a 5% buyer’s premium, according to A.J. Billig Auctioneers, which conducted the sale on Wednesday. Opening bids for the property started at $350,000 and there were a total of eight bidders, the auctioneers said.<\p>
Parity CEO talks building a better city, one block at a time
This article is part of "The BBJ Interview," which features interviews with the region's top business and nonprofit leaders. To suggest an executive, contact Editor Joanna Sullivan at jsullivan@bizjournals.com.<\p> Bree Jones<\p>
Parking, access issues remain for Harborplace designs, city panel says
MCB Real Estate revised and refined some of its plans to reinvent Harborplace — but still got a lukewarm reception from a city design panel on Thursday.<\p> A team of architects from Gensler's Baltimore office presented the updated renderings to the Urban Design and Architecture Advisory Panel, or UDAAP, panel during a nearly two-hour online session. The meeting was the latest discussion of the plans to reinvent the Inner Harbor by Baltimore-based MCB, which first unveiled plans last fall to overhaul the once-iconic local landmark.<\p>
8 things to know: Here's what to expect from holiday weekend traffic
Good morning and TGIF! Summer arrives this weekend! Whether you're heading to the beach, mountains or just hanging at home grilling hamburgers, enjoy the time off. And don't forget that Memorial Day is a time to honor the military personnel who died in service to our country.<\p> Now here's what you need to know before you start your weekend.<\p>
What employers need to know about the crushing childcare costs
In the coming weeks, schools around the nation will be out, and many employees will find themselves scrambling for child-care options. <\p> But child-care costs are soaring, thanks to the child-care cliff, a lack of new child-care centers and workforce shortages in the industry, among other factors. <\p>
Greater Baltimore Committee unveils 10-year economic development plan
Focusing on life sciences and tech investment and strong new workforce and economic development goals can help drive growth in Greater Baltimore through 2035.<\p> That's the conclusion of a report released late Thursday by the Greater Baltimore Committee, or GBC, that aims to serve as a blueprint for the region over the next decade. The GBC's "All In | 2035” report is among several blueprints on how to redefine and realign Baltimore and the metro area from the Downtown Partnership to the mayor's office.<\p>
Atlas to open another Fells Point spot amid backlash from residents
Atlas Restaurant Group received liquor license approval for a new Fells Point spot Thursday amid concerns from neighbors about the outdoor portion of the planned concept. <\p> The Harbor East group plans to open a 25-seat “Key West, Hemingway-style experience” at 1704 Thames St., Atlas CEO Alex Smith said during a hearing before the Baltimore City Liquor Board. Atlas also wants to incorporate courtyard space at 1706 Thames St. next door into the project, but those plans have not yet come before the liquor board as the Department of Transportation must first approve a request to consolidate the two properties. <\p>
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