Merritt Properties Expands Baltimore-Washington Corridor Portfolio
- Aug 12, 2015
One of the largest owners of commercial real estate in the Baltimore/Washington region is getting even larger. Recently, Baltimore-based Merritt Properties has expanded its portfolio of properties in the Baltimore-Washington corridor with the acquisition of a flex building in Elkridge.
Merritt’s new Howard County facility is located at 7195 Troy Hill Drive, adjacent to I-95 and Route 100, right at the front of the Troy Hill Tech Center office park. It is also just two miles from Baltimore Washington International Airport. The single-story building was constructed in 2001 and offers 43,272 square feet of space. Comcast’s regional operations facility currently occupies a portion of it, leaving approximately 30,000 square feet of space still available for lease.
The Baltimore-based company did not reveal the purchase price. According to PropertyShark, the current market value of 7195 Troy Hill Drive is $5.6 million. The real estate website also indicates that the former owner, Troy Hill Investors LLC, purchased the property in 2000, for $3.5 million. Merritt now plans to start work on a renovation project for the vacant space, in order to attract flex users and fill its new asset.
Aerial image via Google Maps