PNC Bank Building in Leonardtown Sold

LEONARDTOWN, Md. (Feb. 3, 2016)—Rainbow Construction, Inc. has purchased the PNC Bank building in the heart of Leonardtown Square. This iconic facility has been vacant for over two years and holds a key location in downtown Leonardtown.

“We are pleased that this great historic building will once again be active,” said Mayor Dan Burris in a prepared statement. “This is another important step toward the economic security of the downtown business district.”

“We are very excited to be part of Leonardtown and the revitalization of Downtown,” said Mr. Mark Guadagnoli of Rainbow Construction in a prepared statement. “Our immediate plans include converting the upper floors of the First National Bank building to luxury loft apartments and renovating the first floor to include retail spaces for lease. Maintaining the exterior façade of the building is an important part of the character of the project.”

This project joins other key revitalization projects that have moved forward recently such as the Washington Street Retail complex, formerly known as the Bell Motor Company Used Car Lot. Owner Rayner Blair is extensively remodeling the existing building for a mix of restaurant/retail and office uses and adding a Dunkin’ Donuts pad site.

Additionally, the Seymour Building—formally Corner Critters Pet Store—has seen a significant transformation by partners Mike Mummaugh, Susan Dyer and Micheline Lopez-Estrada, featuring a restaurant on the first floor and five luxury two-story apartments on the upper floors.

Town officials say that mixed-use projects such as these are important to the vitality of the town as it offers daytime and nighttime pedestrian traffic.

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