The purchase price for the parcel of land that sits in the Timonium/Cockeysville/Hunt Valley corridor off I-83 is $8 million. According to NAI's 2004 Global Market Report, developable commercial land for office or industrial purposes in suburban Maryland sells for a low of $130,580 per acre and a high of $435,600 per acre.
The deal is not expected to close in the near future, as a feasibility study period is currently underway. The anticipated closing date is to occur sometime before January 14 of next year.
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