On The Market!
Neighborhood Retail with Credit-Lease Satellite Tower. 21,200 square foot high traffic retail center on 1.74 acres just off the I-695 Baltimore Beltway and major retail corridor, meticulously maintained by original owners since 1965, significantly below-market rents.
Loyal Legacy Tenants. Joppa Pharmacy and Sofas Etc. in place for 17 years, specialty AR Bridal since 2011, and global American Tower Corp (NYSE: AMT) absolute-net lease satellite tower — since 1993 with options through 2058 – next 13 years guaranteed with 4% annual increases
Deep-Value Creation Opportunity. Family-managed for decades at low rents without expense reimbursements, near-term opportunity to dramatically increase income.
High-Traffic Location. Superb access and visibility; 18,000 cars average cross daily, and 28,500 cars at nearby Perring Parkway commercial junction with major grocery anchored retail centers.
Dense Population.115,000 residents with $91,000 average household income reside within three miles, affordable home prices and high-ranked area schools Parkville Middle (1.4 mi), Perry Hall Middle (2.0 mi) and Chapel Hill Elementary (4.1 mi).
Vibrant Economy. In AAA-bond rated Baltimore County, between two major area economic hubs with immediate access to virtually all area employment; major medical and educational facilities including Towson University, Greater Baltimore Medical Center, University of Maryland St. Joseph Medical Center, Sheppard Pratt Health Systems, and global tool supplier Stanley Black & Decker; near 3.8 million square feet of 10-year development at White Marsh including GM Powertrain, FedEx, Kaiser Permanente, MedStar Health, Comcast, and Ikea.