TD&A Arranges Baltimore MOB Sale
- Jun 11, 2020
Trout Daniel & Associates has brokered the sale of a 31,000-square-foot medical office building in Baltimore. A division of The Goddard Cos. purchased the Class B asset from a private investor. Gary Olschansky of the TD&A Investment Sales Department arranged the off-market transaction, which had been initiated prior to the onset of the pandemic. According to Yardi Matrix data, the property last traded in 2010 for $2.7 million.
Located at 1001 Pine Heights Ave. on the St. Agnes Hospital campus, the three-story building was developed in 1979 and underwent cosmetic renovation in 2016, Yardi Matrix shows. According to TD&A, the asset was 95 percent leased at the time of sale. The new owner intends to implement interior and exterior upgrades and has selected TD&A to spearhead leasing efforts.
The building is approximately 5 miles southwest of downtown Baltimore, just south of U.S. Route 1. Providing easy ingress and egress to interstates 95 and 695, the location is also accessible through public transportation.