Pine Pep Properties, LLC Acquires 2001-2003 Greenspring Drive & Intends to Open The Yard Gym in Timonium-Area Warehouse Building
MacKenzie Commercial Real Estate Services brokers sale on behalf of 2001-2003 Greenspring Dr, LLC
Pine Pep Properties, LLC has completed the $2.3 million acquisition of 2001-2003 Greenspring Drive, a single-story 12,170 square foot industrial/warehouse building situated in the Timonium section of Baltimore County from 2001-2003 Greenspring Dr, LLC. Patrick J. Smith, Nick Maggio, and Mike Ruocco of MacKenzie Commercial Real Estate Services represented the seller and KLNB’s David Fritz represented the buyer in this sale transaction.
Pine Pre Properties intends to open The Yard Gym Timonium, a boutique, performance-driven training center with locations nationally in the nearly 4,200 square foot vacant space this fall. The building, which fronts Greenspring Drive, was delivered in 1978 and fully renovated in 2024, is equipped with 16-foot ceiling heights and two dock doors.
“With Baltimore Flooring Supply retaining its presence occupying approximately one-half of the total building space, Pine Pep Properties will be the immediate beneficiary of steady income flow from a stable tenant,” explained MacKenzie’s Smith. “Equally as important, the new owner has acquired a highly-visible and strategically located asset with plans to backfill the remaining vacancy with a fitness concept. The property remains in excellent condition and its flexible, open space layout will facilitate a rapid tenant build-out. 2001-2003 Greenspring Drive is situated within proximity to numerous business parks and dense residential neighborhoods, providing excellent opportunities to attract fitness club members during daytime and evening hours, as well as on weekends.”
“Greenspring Drive gives us the room to bring The Yard Gym’s elevated boutique training experience to life in Maryland,” explained Megan Monteiro, business owner and the new landlord of the building. “Community staple Baltimore Floor Supply is the perfect co-tenant, and we now have the opportunity to introduce a coming-of-age fitness concept built around structured programming, world-class coaching, an electric atmosphere, and an unmatched sense of community.”
The Yard Gym Timonium will feature the brand’s signature dual-zone training approach, blending strength and endurance through its core RIG and TURF classes, along with high-energy PAYDAY and GAMEDAY sessions designed to inspire progress, consistency, and connection.
“The Yard Gym was recently named Nike Training’s first-ever Global Training Partner, which provides tremendous credibility and proof of concept,” Monteiro added. “This partnership reflects what The Yard Gym stands for: training with purpose, building stronger humans, and creating a space where people of all fitness levels can feel challenged, supported, and part of something bigger.”
Monteiro also credited KLNB and McKenzie for helping make the transaction seamless and efficient. “We originally intended to view the space as a lease opportunity, but McKenzie brought to our attention that the landlord was interested in selling,” she said. “Once we understood that purchasing the property was an option, it made complete sense to move forward in that manner. While buying the building put us behind our original opening timeline, KLNB and McKenzie’s diligence, efficiency, and guidance allowed us to close in nearly half the expected time.”
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, MacKenzie Investment Group and MacKenzie Multifamily Management. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com and www.theyardgym.com/locations/hunt-valley-timonium
