805 Douglas Legum Drive sells for $3.9 million and 6330 Howard Lane trades for $1.25 million
MacKenzie Commercial Real Estate Services, LLC has brokered the sale of two buildings contained within the Elkridge submarket of Howard County, Maryland for a combined transactional value of approximately $5 million. Douglas Legum Drive, LLC acquired 6805 Douglas Legum Drive from ICAT Real Estate LLC for approximately $3.9 million, with Matthew Curran, Vice President and Mark Deering, Senior Vice President and Principal of MacKenzie Commercial Real Estate Services representing both entities in the transaction. In addition, Matthew Curran and Andrew Meeder, Senior Vice President & Principal of MacKenzie represented G2 LLC in the $1.25 million sale of 6330 Howard Lane, with Landmark Commercial Real Estate representing the buyer, Meckley Services, Inc.
6805 Douglas Legum Drive, a three-story building containing approximately 20,400 square feet of commercial office space, was 100% occupied at the time of the sale. The asset features free parking, a rooftop deck that is available for social and business networking events by tenants and is situated near the intersection of MD Route 100 and US Route 1. The building is less than eight miles from BWI Airport, 12 miles from Columbia Town Center and 15 miles from downtown Baltimore City.
6330 Howard Lane is a single-story flex/industrial building comprising nearly 9,000 square feet of space. The building was acquired to house a new location for the commercial building services firm which also maintains offices throughout Virginia, Maryland and Washington, D.C. Since 1994, Meckley Services has provided commercial construction, building services, disaster relief and recovery, and contract and facility services to end-users in the Mid-Atlantic region. The asset is positioned close to the intersection of MD Route 100 and US Route 1 and is approximately seven miles from BWI Airport.
“We continue to see strong demand among end-users requiring 5,000 to 20,000 square feet of office, flex or warehouse space throughout the Baltimore-Washington, D.C. area.Low supply of inventory in that size range coupled with a continued low cost to borrow generated strong demand for both of these properties and others throughout the market,” explained Matthew Curran of MacKenzie Commercial Real Estate Services. “The locations of both properties and access to major roads and interstates provide each of the buyers the ability to service clients and customers throughout the Baltimore-Washington, D.C. area.”
According to data from MacKenzie Commercial Real Estate Services, the vacancy rate for commercial office space in the BWI Corridor was 11.6%, and the vacancy rate for flex/industrial product stood at 8.4% at year-end 2021.
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group and Datastory Consulting. The company provides customized real estate solutions for institutional owners, investors, private companies and individuals. For additional information, visit www.mackenziecommercial.com