MCRES $2.2 Million Sale of 1740 E. Joppa Road in Baltimore County, Maryland
16,875 square foot commercial office building is nearly 100 percent leased
MacKenzie Commercial Real Estate Services has brokered the $2.2 million sale of 1740 E. Joppa Road, a 16,875 square foot commercial office building situated in the Parkville section of Baltimore County, Maryland. Michael Ruocco, Senior Vice President and Principal of the full-service brokerage firm represented the seller, 1740 E Joppa Rd LLC. HQ2 Office Suites LLC was the buyer of the multi-story office building, also known as the Weber Missick Building, which was nearly 100 percent occupied at the time of the transaction.
“The new owner acquired an exceptionally well-maintained asset, situated in an extremely stable section of Baltimore County featuring a mix of established local and national tenants with long-term leases,” explained Ruocco. “It is exceedingly rare for a substantially-leased building under 20,000 square feet of space in the east Towson market to become available for purchase. As a result, we fielded robust interest and was successful in concluding a timely sale that met the expectations of both the buyer and seller.”
Delivered in 1972 and fully renovated in 2017, the building features retail tenants on the first floor including State Farm Insurance Company and SecurityPlus Federal Credit Union. The balance of the building is leased to medical and professional services companies such as The Norris Group, ABA Solutions, Lanier Law Firm, and MAC Healthcare Services. The site, which fronts E. Joppa Road and Emge Road, is surrounded by a free surface parking lot which can accommodate nearly 55 vehicles.
“A lease was recently executed with SecurityPlus Federal Credit Union, which will further elevate occupancy in 1740 E. Joppa Road upon its opening this fall,” Ruocco added. “The new owner intends to invest resources into the asset to enhance its appearance, marketability and operational efficiency.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates five full-service divisions addressing all real estate asset classes including MacKenzie Management Company, MacKenzie Contracting Company, MacKenzie Capital, and MacKenzie Investment Group. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
