Kenwood Buys Suburban Baltimore Flex Portfolio for $8M

JESSUP, MD-Kenwood Management Co. LLC spent $8.1 million to acquire a three-building flex complex along Preston Court. here. The company took the 180,000-sf property off the hands of Rowe Properties Inc. subsidiary Rowe Properties Jessup Inc.Located off I-95, the class B and C portfolio sits 16 miles outside of Baltimore in Howard County’s Rte. 1 Corridor. The single-story office and warehouse structures–which carry the addresses of 8260, 8264 and 8268 Preston Ct.–were developed in 1989 and offer 64,200, 49,900 and 65,700 sf.

The 8260 Preston Ct. building is leased to maximum capacity, while 8264 and 8268 Preston Ct. have occupancy levels of 29% and 79%. Among the tenants in the complex are Sara Lee, Triangle Printing and the Pittman Cos. Colliers Pinkard has been tapped to handle leasing activities and is marketing available space for $6.50 to $7.50 per sf. Kenwood was represented internally by William Singer, while Cresa Partners’ Thomas Birnbach represented the seller.