Greenfield Partners Sells Baltimore-Area Office/Flex Asset

The Class B facility located in Columbia, Md., traded for $5 million. The new owner occupies roughly 84 percent of the property.
9740 Patuxent Woods Drive in Columbia, Md.

American Wood Fibers (AWF) has purchased a 38,000-square-foot, Class B property in Columbia, Howard County, Md., from Greenfield Partners. Lee & Associates Maryland brokered the $5 million deal on behalf of the buyer.

The facility is located at 9740 Patuxent Woods Drive, within a 25-minute drive southwest of downtown Baltimore. The site is adjacent to Route 32 and near Interstate 95, while Baltimore/Washington International Thurgood Marshall Airport is a 17-minute drive away.

AWF occupies roughly 84 percent of the office/flex property and is marketing the remaining 6,000 square feet for lease. The single-story brick and glass building, constructed in 1986, is surrounded by an outdoor parking lot.

“The amount of space utilized by the company is extremely stable, so they have confidence that 9740 Patuxent Road can support their real estate needs for the long term,” said Allan Riorda of Lee & Associates, in a prepared statement. “The building remains in excellent condition and no physical improvements are needed in the foreseeable future.”

Earlier this year, Greenfield Partners sold an industrial asset for $59.6 million in Lakeland, Fla. The CenterState Logistics Center comprises 605,412 square feet of Class A space.

Image courtesy of Lee & Associates