The 16,800-sf retail center is located on Joppa Road just west of Perring Parkway in Parkville, MD.
Gary Olschansky a commercial and investment specialist handled the transaction.
Its prominent location on the north side of the street makes the property visible to over 145,000 cars per day driving on I695. It also benefits from over 33,000 cars per day passing the property on Joppa Road. Seven tenants occupy the retail center which was constructed in 1979 and has been home to several of the tenants for many years.
The seller was 1836 Joppa Road LLC/1842 Joppa Road LLC, and the purchaser was 1836-1844 Joppa LLC.
The new owners intend to make cosmetic upgrades to the exterior and parking lot while maintaining the neighborhood aesthetic of the property.
According to Olschansky, “The lending and economic environment in the commercial real estate industry was challenging as were issues that needed to be addressed during due diligence and pre-closing.” Olschansky went on to say that “This was a textbook case of buckling down and dealing with just about every issue that can arise when selling a commercial property. Credit to the seller and the purchaser for rolling up their sleeves and committing to completing the transaction.”
TD&A is a full-service commercial real estate brokerage and management company located in Lutherville, Maryland. TD&A represents its clients with honesty, integrity and hard work resulting in best-case results for all parties. TD&A has been in business since 2009 and has roots in the commercial real estate industry dating to 1967.
TD&A is a regular choice for those who seek a trusted advisor when contemplating commercial real estate transactions in the Mid-Atlantic region and beyond.
