The First National Bank building at 1000 Bestgate Road in Annapolis has sold for $6.5 million.
First National Bank sold the property to Maryland Brain and Spine. First National Bank has signed a long-term lease and will occupy the building’s first and second floors. Maryland Brain and Spine will occupy the fourth floor and Financial Advisors are moving into the third floor, according to a news release announcing the sale.
“This is a landmark property that’s rarely offered on the market,” Colliers International Vice President Colin Penoyar said. “We used a bidding process to attract nine offers on the property, which allowed Colliers to achieve a sale price above the asking price.”
The structure was built in 2001, and includes 22,804 square feet of furnished office and retail space. The building is set on 2.54 acres of land with more than 80 parking spaces. It also provides access to amenities such as Annapolis Towne Center, Parole Plaza and Annapolis’ downtown waterfront.