MacKenzie Commercial Real Estate Services, LLC experienced one of its top fourth quarters in client satisfaction and completed transactions in the past three years with the recent closing of four property and investment sales in Harford County.
“Despite the ongoing concerns with the Harford County commercial real estate market, and lingering, underlying concerns with BRAC, we have been able to leverage our full service capabilities and local market knowledge to produce results for our clients,” said Tom Fidler, Executive Vice President of MacKenzie Commercial Real Estate Services, LLC. “Having both Tom and Beetle become part of our platform, and further enhance our presence in Harford County with their shared commitment to client success, we have been able to make things happen. To be selected for the disposition of the former Slavie Federal Savings and Loan office building and bank branch at 1614 Churchville Road, out of a pool of larger, nationally branded firms, is a great example that our local expertise and knowledge, mattered the most to the client. We know local matters.”
Senior Vice Presidents Donnell “Beetle” Smith and Thomas Mottley represented the clients in multiple investment sales during the last weeks of December.Among the sales were a 24,000 square foot (sf) Class B office building at 2205 Commerce Road that sold to an investor, a 27,305 sf Class B office building at 1614 Churchville Road to a local small business owner-user, a 2,733 sf Class B medical office condominium to a local investor dedicated to growing its portfolio within Harford Counties borders, and a 1,600 sf medical office condominium at 2227 Old Emmorton Road to a owner-user.Total sale transactions for the projects surpassed $5,250,000 in volume and more than 55,000 in square footage.
“As a local businessman in Harford County it’s important to me to not only invest in our community, but to work with like-minded individuals who are as committed to building the long-term success of my business as they are to Harford County,” said local investor Joe Laponzina.
Harford County’s diverse office market has struggled to lower a vacancy rate in the mid-twenties for the last two years. Recent leasing activity by small businesses and local entrepreneurs during the third and fourth quarters of 2014 is expected to slowly chip away at the current 24.10 percent vacancy rate in 2015 as users take occupancy.