Baltimore-Area Office Asset Completes First Sale
A joint venture between Feldman Bergin Development and Kenwood Management Co. acquired 1334 Ashton Road in Hanover, Md. for $2.3 million. The building is part of the Commons Corporate Center office park.
By Corina Stef
Real estate investment trust Corporate Office Properties Trust announced the disposition of 1334 Ashton Road in Hanover, Md., located within the Commons Corporate Center business park. The sale of the 38,000-square-foot office building closed for $2.3 million. The buyer was a partnership of Feldman Bergin Development and Kenwood Management Co. Newmark Knight Frank Executive Managing Director Cristopher Abramson acted on behalf of the seller.
The single-story office/flex building was constructed in 1989 and sits on a 3.9-acre parcel, according to PropertyShark. The asset offers easy access to Route 100, providing tenants with multiple mass transportation options. Neighboring amenities include restaurants, retailers such as Arundel Mills Mall and The Shoppes at Arundel Preserve, banks, a fitness center and child care center. Additionally, the Baltimore–Washington International Thurgood Marshall Airport is four miles away.
The building is 40 percent occupied by tenants such as Cini-Little International Inc. and KEYW Corp. The leasing is handled by Lee & Associates Chesapeake Region Principal Kate Jordan and Senior Associate Marley Welsh.
Image courtesy of Lee & Associates
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