Clients & Projects

CASE STUDY
State Employees Credit Union Of Maryland, Inc.,
Anne Arundel County, Maryland

The Challenge
In 1998 when the MacKenzie Team met with State Employees Credit Union of Maryland, Inc. (“SECU”), they were looking 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 in which they owned.  They were looking for a building in a convenient location for their operations center with ample parking and room for expansion.  In 1998, there were a limited number of properties on the market because of the strong economy and limited property availability.  Most properties available were non-investment grade and over priced.

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 the owner’s representative in coordinating the design and construction of the building with the architect and contractor.  MacKenzie is responsible for leasing 40,000 square feet of expansion space to third party tenants, with lease maturities coinciding with the expansion projections of SECU.  MacKenzie has continued its relationship with SECU by assisting in identifying and developing branch locations throughout the State of Maryland.  MacKenzie is also the property manager for this property.

State Employees Credit Union Of Maryland

Services Provided:
• Leasing & Sales
• Corporate Consulting & Strategic Planning
• Development Services
• Construction Services
• Market Research
• Property & Asset Management