$2.45M for 30,000-SF Building

TOWSON, MD-Ownership of he 30,000-sf office building at 17 West Pennsylvania Ave. changes hands as Continental Realty sells the property to 250 W. Penn LLC in a $2.45 million deal. Baltimore County tax records list the property’s value at $1.9 million.

Built in 1985, 17 West Pennsylvania is in the midst of downtown, near the Towson Courthouse and the highly frequented Towson Town Center. The building consists of five floors and is 100% occupied by a variety of tenants. “Office buildings of this size are seldom offered for sale in Baltimore County, particularly well-positioned projects in the heart of downtown Towson,” says Michael Mull of NAI KLNB. NAI KLNB represented the seller while Preston Partners stood in for the buyer. “Space this close to the Courthouse is at a premium and the new ownership group received a building that will prove to be an excellent long-term investment.