This Week's Baltimore Deal Sheet
Baltimore-based Root Branch Media Group has bought an office building on Canton's busy Boston Street corridor for $2.25M, according to property records.
The company, operating as RBMG 2220 Boston Street LLC, purchased the 14K SF facility at 2220 Boston St. in late November. The firm started leasing space in the 74-year-old building in June 2022, according to the Baltimore Business Journal, which first reported the sale.
Property records show the building last sold in June 2000 when Standard Supply & Equipment traded the building to 2220 Boston Street LLC for $650K.
Previously, the property housed supply chain data provider Barcoding Inc., which relocated to Highlandtown several years ago after outgrowing the offices on Boston Street.
SALES
A trio of properties on Dobbin Center Way in Columbia sold for $5.7M, according to brokerage firm Marcus & Millichap. The parent company of convenience store chain Dash In purchased the properties at 6405, 6415 and 6425 Dobbin Center Way, which serves as an auto service station. Dean Zang and David Crotts from Marcus & Millichap's D.C. office represented the seller and found the purchaser.
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A pair of commercial properties in Fallston along Belair Road sold to auto dealer Jones Junction for $10M, according to property records. In late December, property owner Mike Matrino announced he sold the properties at 1915 and 2001 Belair Road to Jones Junction, which had already leased space at 2001 Belair Road for a Kia dealership. Property records show the property at 2001 Belair Road sold for $4M, and the Royal Farms convenience store and gas station at 1915 Belair Road sold for $6M in late September.
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Hyatt Commercial announced the sale of a pair of Baltimore-area properties. The Olympus Pines Co. purchased 1.4 acres of commercially zoned land at 7907 Ritchie Highway for $750K and plans to open a Tommy's Car Wash. Dennis Murphy, partner and associate broker at Hyatt Commercial, represented the buyer.
In a second transaction, Steve Smollon, president of Climate Care HVAC Services, operating as Climatecare Grasonville LLC, purchased a 2.2-acre property at 3630 Main St. in Grasonville for $600K. Hyatt's Murphy and Senior Vice President Laurie Zuiderhoff represented the seller.
LEASES
Penguin Packaging Solutions signed a 65K SF lease at 8257 Patuxent Range Road in Jessup, the Baltimore Business Journal reports. The 3-year-old food packaging company plans to relocate from Linthicum Heights by March.
FINANCING
Developer McCormack Baron Salazar and its collaborator, the Housing Authority of Baltimore City, announced Tuesday that it closed financing and started construction on the third phase of the redevelopment of the former Perkins Homes site in Baltimore. This development phase includes constructing two multifamily buildings that include 152 mixed-income units. The redevelopment is part of a larger effort to revitalize East Baltimore's Perkins, Somerset and Oldtown communities by replacing aging public housing with mixed-income development.
PERSONNEL
Lee & Associates | Maryland has promoted Marley Welsh to principal. Welsh has worked at the Howard County-based brokerage and management firm since 2013, most recently as vice president. Welsh works as part of a three-woman team, including principal Kate Jordan and associate Samantha Eckles, focusing on flex/office and warehouse/industrial deals. The team executed 75 transactions totaling $25M last year.
