Fully Leased Anne Arundel Office Buildings Change Hands
- Aug 07, 2015
By Adrian Maties, Associate Editor
NAI KLNB has brokered the sale of another office complex in the greater Baltimore area. The two buildings at 1655 and 1657 Crofton Blvd., in the Crofton section of Anne Arundel County, traded for $4.7 million.
The Towson-based commercial real estate services provider represented both the buyer, HB Properties, and the seller, Geo. H. Rucker Realty Corporation, in the transaction. The NAI KLNB team included principals James Caronna, Craig Morrell and Bill Miller.
The two, three-story office buildings offer 62,000 square feet of space. Both properties were constructed in the early 1980s at the intersection of Crofton Blvd. and MD Rouge 3, within close proximity to MD Routes 32 and 50. The properties were fully leased at the time of the sale to tenants including DAVCO Restaurants, Inc., Caruso Homes, Annapolis Pediatrics and Home First Title Group.
“The new owners acquired a strategically-located, fully-leased office portfolio in a section of Anne Arundel County that remains a healthy and strong commercial real estate marketplace,” James Caronna explained in a prepared statement “With financially-stable tenants in place, we believe these assets represent an excellent long-term investment that will continue to increase in value.”
Photo credit: Geo. H. Rucker Realty Corporation