1641 East Joppa Road Sells for $1.5M and 803 Gleneagles Court Sells for $4.4M

KLNB, the leading mid-Atlantic multi-service commercial real estate brokerage firm, has announced the sale of two properties in Towson, MD. 1641 East Joppa Road sold for $1,500,000, and 803 Gleneagles Court sold for $4,400,000. Brad Berzins and Jesse Schwartzman of KLNB represented the seller in both instances: Howard Bank for 1641 East Joppa Road and a private partnership for 803 Gleneagles Court.

Both of these sales represent and reinforce the demand from users for well-situated assets in Baltimore County and Towson. Said Berzins: “At both Gleneagles Court and 1641 E. Joppa Road, the interest and demand from end-users was extremely high. Both of our clients achieved high-water mark pricing of $147 PSF at 803 Gleneagles Court and $323 PSF at 1641 E. Joppa Road."

Situated in Baltimore County at the intersection of East Joppa Road and Loch Raven Boulevard, 1641 East Joppa Road is easily accessible from the I-695 Baltimore Beltway and is caddy corner to a newly developed drive-through Starbucks. The half-acre site offers ideal visibility on a main thoroughfare in the busy Towson area with traffic counts of nearly 50,000 ADT. Henry DeFord of MacKenzie Commercial Real Estate represented the Newton, Mass.-based buyer M and S Limited Partnership. The site was previously utilized as bank branch/office building, most recently as a Howard Bank branch. The buyer plans to turn the site into a quick-service oil change facility.

Said Schwartzman: “803 Gleneagles Court represented a very rare opportunity to acquire a 30,000-SF stand-alone flex/office building at a key Baltimore County intersection – Loch Raven Boulevard and Cromwell Bridge Road. Situated on 4.9 acres, the site is ideal for a single-building user that could capitalize on the parking ratio and access to the Baltimore Beltway and Towson”. Michael Mull of KLNB represented the buyer – who is undisclosed.