TD&A Arranges Baltimore MOB Sale

Gary Olschansky of the firm’s Investment Sales Department facilitated the disposition of the 31,000-square-foot asset.
1001 Pine Heights Ave.

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.

If you’d like to be featured in Brokers’ Corner, simply fill in our short form or send your deal to deals@cpe-mhn.com.