MacKenzie Commercial Real Estate Services has brokered the sale of two buildings in Elkridge for a combined value of approximately $5 million. Douglas Legum Drive LLC acquired 6805 Douglas Legum Drive from ICAT Real Estate LLC for approximately $3.9 million; and represented G2 LLC in the $1.25 million sale of 6330 Howard Lane, with Landmark Commercial Real Estate representing the buyer, Meckley Services.
6805 Douglas Legum Drive, a three-story building containing approximately 20,400 square feet of commercial office space, was 100 percent occupied at the time of the sale. The asset features free parking, a rooftop deck that is available for social and business networking events by tenants and is situated near the intersection of routes 100 and 1.
6330 Howard Lane is a single-story flex/industrial building comprising nearly 9,000 square feet of space. The building was acquired to house a new location for the commercial building services firm which also maintains offices throughout Virginia, Maryland and Washington, D.C.
“We continue to see strong demand among end-users requiring 5,000 to 20,000 square feet of office, flex or warehouse space throughout the Baltimore-Washington, D.C. area. Low supply of inventory in that size range coupled with a continued low cost to borrow generated strong demand for both of these properties and others throughout the market,” said MacKenzie Vice President Matthew Curran. “The locations of both properties and access to major roads and interstates provide each of the buyers the ability to service clients and customers throughout the Baltimore-Washington, D.C. area.”
According to data from MacKenzie, the vacancy rate for commercial office space in the BWI Corridor was 11.6 percent, and the vacancy rate for flex/industrial product stood at 8.4 percent at year-end 2021.