Search
 

County Will Build New Offices with Profit from Property Sales

ELLICOTT CITY, MD-The $2.8 million Howard County officials just made from surplus property sales is only the beginning. They hope to make $7 million or so on additional sales, and will use the profit to fund their new office complex.

By Barbra Murray | Updated on November 12, 2001

ELLICOTT CITY, MD-Howard County officials put $2.8 million in their coffer for their new government office complex with the sale of four surplus properties. Additional sales of several other surplus lots and buildings are expected to bring in about $8 million for the project.

An 8,080-sf historic firehouse and its parking lot bring in $905,000 for the county, while the sell of a building on 1.16 acres brings in $300,000. The sale of two more surplus buildings accounts for an additional $1.7 million. Commenting on the transactions, county Public Works Director James M. Irvin says the property sales are “a critical part of our project to build a new office complex. This is one of the first major steps.” There are five more properties the county hopes to close deals on in the next few weeks. Irvin says officials are currently in the negotiating phase with a prospective buyer on a county-owned 60-acre parcel of land.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.