Univest Bank and Trust Co., which operates as the retail division for Univest Financial Corp., has has signed a lease with Valley Gateway, LLC for 6,250 square feet of space at 10801 Tony Drive in the Lutherville-Timonium section of Baltimore County.
The site represents the first of two initial entry points into the greater Baltimore marketplace for the Souderton, Pennsylvania-based financial institution which lists assets of approximately $6.7 billion. Bill Whitty, senior vice president and principal and Henson Ford, senior real estate adviser for MacKenzie Commercial Real Estate Services represented the landlord in this transaction. Scott Wingrat of Cresa represented the tenant.
Founded in 1876, Univest Financial Corp. provides a full range of financial solutions for individuals, businesses, municipalities and nonprofit organizations through its network of more than 50 offices situated throughout the Mid-Atlantic region. The company, which announced its expansion intentions into both the Baltimore and Pittsburgh markets earlier this year, plan to open its first Marylandoffice at 10801 Tony Drive in first quarter 2023.
10801 Tony Drive is a two, story building containing approximately 12,000 square feet of retail and commercial office space, and is situated directly off Falls Road near Green Spring Station. Surrounded by a free surface parking lot, nearly 21,000 vehicles pass the site on a daily basis via Falls Road, with an additional 13,000 vehicles driving by each day using Greenspring Valley Road. The site is within walking distance to numerous restaurants and retail shops, as well as three Johns Hopkins medical offices.
MacKenzie is handling all property management and leasing for the asset which is located approximately five miles from Towson and 10 miles from downtown Baltimore and is directly adjacent to Interstate 83 and the Baltimore Beltway.