State Employees Credit Union of Maryland, Inc.

The Challenge
The State Employees Credit Union of Maryland, Inc. (“SECU”) wanted to acquire a headquarters building in which to consolidate 24,500 square feet of lease space with 25,000 square feet of space in a building which they owned. They were looking for a building in a convenient location for their operations center with ample parking and room for expansion. There were limited number of properties on the market because of the strong economy and limited property availability. Most properties available were non-investment grade and overpriced.

The Solution
MacKenzie contacted every building and land owner in Howard County, Baltimore County, and Anne Arundel County that owned properties fitting SECU’s requirement, including the owners of property not listed for sale. MacKenzie identified a 9-acre lot in Anne Arundel County, close to the Baltimore/Washington International Airport, and negotiated a contract of sale for the land. During the study period, MacKenzie assisted SECU with engineering studies, design, construction, and cost estimates. MacKenzie acted as owner’s representative in coordinating the design and construction of the building with the architect and contractor. MacKenzie was also responsible for leasing 40,000 square feet of expansion space in the building to third party tenants, with lease maturities coinciding with the expansion projections of SECU. MacKenzie also manages the building. MacKenzie has continued its relationship with SECU by assisting in identifying and developing branch locations throughout the State of Maryland.

Services Provided:

• Leasing & Sales
• Corporate Consulting & Strategic Planning
• Development Services
• Construction Services
• Property & Asset Management