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KLNB secures sale of 2 Baltimore-area retail assets
KLNB secures sale of 2 Baltimore-area retail assets
Listen to this articleKLNB, the Mid-Atlantic region’s largest privately held CRE brokerage firm, facilitated the sale of two commercial retail properties in Baltimore and Carroll counties.
The company helped in the sale of 1848 Reisterstown Road in Baltimore and 1720 Liberty Road in Eldersburg, which are a combined 54,266 square feet. KLNB Senior Vice President Don Schline and Principal Ryan Wilner represented the seller on both transactions.
1848 Reisterstown Road is a three story, 42,244-square-foot retail and flex building located at a signalized intersection on Reisterstown Road, just off Interstate 695. KLNB represented Creative Holdings LLC in the disposition assignment, and found the purchaser. After a brief marketing period, KLNB identified a local investor to acquire the asset who is planning to re-tenant the space into medical office, flex and retail multi-tenant space.
The KLNB Retail leasing team of Principal Ryan Minnehan, and Retail Specialist Alex Shearer, will oversee all retail leasing for the Reisterstown Road property in conjunction with Vice President Colin McGonical focusing on medical office leasing.
The other sale was 1720 Liberty Road, a 12,022-square-foot, three tenant, 100% leased retail asset in Eldersburg. Schline says that the property’s long-term leases with tenured tenants provide investors with inflation-protected cash flow via annual rental rate increases.
KLNB employs more than 110 full-time brokerage professionals in its five offices across the Baltimore-Washington area.
