PRESS RELEASE OF THURSDAY, JUNE 5, 2005
Trout Daniel & Associates Sells Pikesville’s Bedford Square Portfolio for $4,850,000.
BALTIMORE – Trout Daniel & Associates, a full-service commercial real estate firm, announces the sale of Pikesville’s Bedford Square, a 40,000 SF office complex in Pikesville, for $4,850,000.00.
Gilbert Trout of TD&A represented the seller, Bedford Square Equities, and procured the buyer.
Bedford Square consists of two buildings located at the intersection of Bedford Avenue and McHenry Road. Bedford Square sold 93% leased, with over 20 tenants, and a total building area of 40,773 SF on a 2.57 AC lot.
States Trout: “Investors in mid-Atlantic commercial real estate are often skittish to invest in suburban office properties. That’s understandable, as 5-year trends for office sales, leasing and new office development have been consistently lukewarm. However, while the often-touted phrase “return to the office” is usually more aspirational than measurable, there are Baltimore markets which offer superb office investment opportunities, with properties enjoying solid occupancy and competitive lease rates for multi-year terms. Pikesville is one of those markets, and experienced investors are scooping up Pikesville office properties at competitive prices and benefiting from Pikesville’s active small-business environment to keep these offices leased for years to come.”
Contact Gilbert Trout at 443-921-9332 or gtrout@troutdaniel.com for more information.
About Trout Daniel & Associates
Trout Daniel & Associates is a full-service commercial real estate brokerage serving businesses throughout the mid-Atlantic and beyond. The firm takes a highly-customizable approach to providing a full range of commercial real estate services, including brokerage, development, consulting and management to the retail, office, industrial, multi-family and investment market segments. For more information, call: 410-435-4004 or visit: www.troutdaniel.com.