Sharon Nelson Craig

SC

Biography

Sharon Nelson Craig is a real estate attorney who helps property owners, investors, and tenants buy, sell, develop, and lease commercial real estate in sophisticated transactions throughout the Washington metropolitan area.

Sharon calls herself a “dirt lawyer,” because she helps her clients develop property from the ground up. For more than 30 years, she has prepared and negotiated purchase and sale contracts, development agreements, construction contracts, reciprocal easement agreements, ground leases, major national and small tenant retail, office and warehouse leases, financing documents, condominium documents, concession agreements, and ancillary real estate documents.

Sharon's clients applaud her for being a relationship-building perfectionist who performs extremely well under pressure, keeping her cool with her sense of humor intact. Sharon sees the big picture with her clients, and makes sure they focus on the necessary details to protect their interests, manage their development team members, and keep the project running on time. Sharon’s experience in deal structuring, ground leasing, and development, make her a tremendous resource to her clients.

Sharon enjoys beach time, particularly evening lobster rolls in Martha’s Vineyard following a day in the sun with a good book. Having grown up on her family's farm in Virginia, Sharon also loves spending time there with her family, planting and picking vegetables, and fishing in Grandpa Jack's pond.

Honors & Awards

•Listed in Chambers USA as a Noted Practitioner for Real Estate (2015-present)
•Listed in Best Lawyers in America for Real Estate Law (2016-present)
•Excellence in Leadership Award, African American Real Estate Professionals, Baltimore Chapter (2001)
•Distinguished Women in Law Award, Alliance of Black Women Attorneys of Maryland (1997)

Community Involvement

•EduStar Performing Arts Society, Inc. (Board of Directors, 2010-present)
•The Northeasterners, Inc. (2010-present), President of Baltimore Chapter (2016-2018)

Sucess Stories

Howard University

Challenge

Lerch Early serves as primary outside real estate counsel to Howard University. For the past several years, the now 150 year old University has been leveraging certain of its Washington, DC real estate assets to improve the campus environment and the experience of its most valuable assets - the students, faculty and staff of the University.

Strategy

In 2016-2017, Lerch Early attorneys worked with the University’s internal legal and finance teams and its outside real estate advisor, Alvarez and Marsal, to structure a unique arrangement among Howard Dormitory Holdings 1, LLC, a wholly-owned and title-holding company of Howard University, and Howard University (collectively, the “University Parties”) and Corvias Campus Living, LLC (“Corvias”). Lerch Early represented the University Parties in drafting and negotiating the concessionaire, project management and residential life agreements, entity formation agreements, construction contracts, financing documents, and other operative agreements in connection with the transaction, as well as assisting the University Parties in addressing and resolving numerous legal and business issues associated with the transaction.

Results

The innovative 40-year partnership among the University Parties and Corvias raised $144 million, a portion of which will fund the renovation and modernization of the Howard Towers, will provide for the ongoing management of the Howard Towers and two additional residence halls, and will create, for the long-term, a sizable reserve fund for future capital expenses.

Elizabeth Square

Challenge

Lerch Early client Lee Development Group had owned property in downtown Silver Spring for more than 50 years that was adjacent to two aging buildings owned by a quasi-governmental housing commission. The existing uses on all three properties needed renovation or full redevelopment.

Strategy

We led negotiations for a joint development strategy to redevelop the entire block as a quality, high-end mixed-use project, with significant affordable housing in the project. “High-end” and “affordable” usually don’t go together in commercial real estate; however, this project shows they can. LDG and the Housing Opportunities Commission of Montgomery County together are developing Elizabeth Square, which will include residential housing, including expanding affordable and workforce housing with a large seniors component, along with retail, recreational, health services, and educational facilities.

The project will advance in stages to accommodate the transition of residents from the existing senior living property into a new affordable building with the integrated public services, allowing demolition and replacement of the existing obsolete senior building with another new modern and mixed affordable building. We created a land development agreement allowing the parties to pursue the regulatory approvals, and secured project and subdivision plans for the overall project and site plan approval for the first stage. We developed a condominium structure and air rights lease for the operation of the first new building.

Result

Elizabeth Square gives HOC a revitalized presence in downtown Silver Spring, just blocks from the Metro, keeping seniors in their existing community in a modern, energy-efficient building supported by market rate amenities.

Starbucks

Challenge

Starbucks wished to redevelop a site in Burtonsville into a new Starbucks restaurant that would include a drive-thru. Before Starbucks retained Lerch Early, the project had become “stuck” in the review process.

Strategy

We identified key decision makers in County government and worked with County leaders of our zoning interpretation and path to approvals. This involved multiple meetings with planning staff and officials, as well as testimony before the Hearing Examiner.

Result

Starbucks received all approvals necessary to redevelop a key strategic location with the Starbucks required amenities.

Insights

Publications

•Condo’ing Your Commercial Office/Retail Building January 31, 2018
•4 Key Provisions Developers Should Consider in Reciprocal Easement Agreements (REAs) September 9, 2015
•Highlights from 'Buying and Selling Multifamily Housing: Getting the Deal Done' May 6, 2014
•The Most Important Date You Ever Had: Critical Dates in Retail Leasing June 4, 2013
•Use of Condominium Regimes, Ownership Lots and Air Rights Parcels to Develop, Own and Finance Commercial Real Estate March 1, 2012
•Rights of First Refusal and the Purchase and Sale of Rental Facilities February 20, 2012
•Mixed-Use Projects: A Development Checklist December 1, 2011

Events

•Nonprofit-Private Real Estate Partnerships April 14, 2016
•Hot Topics in Retail Leasing March 19, 2015
•Transit Oriented Development Opportunities, Part II September 17, 2014
•Buying & Selling Multifamily Housing: Getting the Deal Done April 30, 2014
•Transit Oriented Development Opportunities Seminar December 11, 2013
•Deconstructing Construction Contract Forms: Which Ones and When? 12/4 Real Estate Seminar November 15, 2013
•8 1/2 Keys to Successful Commercial Leasing in Mixed Use Projects June 27, 2013

News

•Howard University Renovates Center to Include Student Housing January 9, 2019
•Lerch Early Attorneys Named to Best Lawyers in America 2019 August 15, 2018
•Lerch Early Attorneys Named to Best Lawyers in America 2018 August 15, 2017
•Lerch Early Represents Howard University in $144M Student Housing Deal February 22, 2017
•Elizabeth Square Development Wins Planning Board Approval October 21, 2016
•Lerch Early Lawyers Listed in Best Lawyers in America 2017 August 15, 2016
•Chambers USA 2016 Ranks Lerch Early in Corporate, Health Care, Litigation and Real Estate/Land Use May 27, 2016
•Women in the Law Honors Lerch Early Attorneys April 25, 2016
•Howard University and Jair Lynch Sign Deal to Turn Howard U Dorms into Luxury Rentals February 3, 2016
•Lerch Early Lawyers Listed in Best Lawyers in America 2016 August 17, 2015
•Chambers USA 2015 Ranks Lerch Early in Corporate, Health Care, Litigation and Real Estate/Land Use May 19, 2015
•Tower Companies Break Ground for The Pearl April 20, 2015
•Elizabeth Square Project to Bring More Affordable Housing to Silver Spring September 24, 2014
•Lerch Early Sponsors Transit Oriented Development Opportunities II Seminar September 10, 2014
•Lerch Early Lawyers Listed in Best Lawyers in America 2015 August 18, 2014
•Lerch Early Sponsors Transit Oriented Development Opportunities Seminar November 18, 2013
•Sharon Nelson Craig to Speak to International Council of Shopping Centers Conference About Mixed-Use Projects September 4, 2013
•Lerch Early Lawyers Listed in Best Lawyers in America 2014 August 15, 2013
•The Keys to Successful Commercial Leasing Presented by Real Estate Group June 27, 2013
•Sharon Nelson Craig Speaks on Leasing Dates at ICSC Law Conference October 29, 2012
•Habitat for Humanity Breaks Ground on Maple Hill Community in Gaithersburg March 22, 2012
•Fillmore Silver Spring Named WBJ Best Real Estate Deal Finalist March 20, 2012
•Sharon Nelson Craig Teaches Legal Drafting Class at Catholic U. Law School November 3, 2011
•Sharon Nelson Craig Speaks to UMD Real Estate Development Master's Program on Retail Leasing October 19, 2011

Areas of Practice (3)

  • Education
  • Real Estate
  • Restaurants

Education & Credentials

Contact Information:
(301) 841-3836  Phone
(301) 347-3757  Fax
www.lerchearly.com
University Attended:
University of Maryland, B.A., Government and Politics, 1983
Law School Attended:
Catholic University of America Columbus School of Law, J.D., 1987
Year of First Admission:
1996
Admission:
1996, District of Columbia; 1988, Maryland
Memberships:

Professional Memberships

ICSC-International Council of Shopping Centers (Law Conference Speaker)

Commercial Real Estate Women (CREW), Baltimore Chapter (President, 1997)

University of Maryland (Visiting Lecturer on Retail Leasing) (2011-present)

The Catholic University Columbus School of Law (Visiting Lecturer on Legal Writing for Real Estate Transactions (2011-2013)

Maryland State Bar Association

Bar Association of the District of Columbia

Birth Information:
1961
Reported Cases:
Representative Matters: Serve as lead real estate counsel for Howard University, the nation's premier historically black university in Washington, DC. Recent transactions include a $144 million partnership with real estate group Corvias in a deal that will renovate two of Howard's largest residence halls, and a 99-year $22 million capitalized ground lease transaction with a local developer that will turn a former residence hall next to Meridian Hill Park on 16th Street into luxury rentals.; Serve as transactions counsel for Lee Development Group in the development of Elizabeth Square, a public-private partnership between LDG and the Montgomery County Housing Opportunities Commission. The mixed-use project in Silver Spring will include retail and residential housing, including affordable senior units, and a state of the art County recreation center. http: //www.leedg.com/property/elizabeth-square; Serve as transactions counsel for The Tower Companies in the redevelopment of The Blairs, a historic community reinventing itself to include 2, 800 high-rise apartments and 450, 000 SF of new mixed-use commercial space, all within a short walk of Metro. http: //www.sasaki.com/project/306/the-blairs; Serve as transactions counsel for United Therapeutics in the creation and expansion of its world headquarters campus in downtown Silver Spring. http: //www.bethesdamagazine.com/Bethesda-Beat/2015/Company-Hopes-to-Begin-Demolition-of-Silver-Spring-Parking-Garage-This-Fall
ISLN:
917982307
Payment Information:
  • Credit cards accepted
  • Accepts MasterCard and Discover

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Documents (5)

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Bethesda, Maryland

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