NAI KLNB inks $2.95 million sale of former bank
BEL AIR, MD — NAI KLNB has brokered the sale of the former Slavie Federal Savings Bank building, located at 1614 Churchville Rd. in Bel Air, Maryland to 1614 Churchville Road, LLC for $2.95 million. David Fritz of NAI KLNB represented the buyer and Beetle Smith and Tom Motley of MacKenzie Commercial Real Estate Services represented the seller, the Federal Deposit Insurance Corporation in this transaction.
The independent agency of the United States Government assumed ownership and control of the three-story, 27,305 s/f building, located near the intersection of MD Rtes. 22 and 543 in Bel Air, upon the closing of Slavie Federal Savings Bank last spring.
The new owner, affiliated with Bramhall-Hitchen Insurance in Newark, Delaware, has acquired Bel Air-based WSMT Insurance and plans to utilize this building for the new offices of the insurance agency that offers products serving individuals as well as the dental, medical, hospitality, manufacturing, not-for-profit, property management, construction and wholesale industries. The offices are being relocated from East Broadway in Bel Air. In addition, three separately-owned businesses will continue to operate within this building.
“This classically-designed office building is recognized as among the most aesthetically-pleasing commercial real estate products in the Harford County region, and the investor/user interest in this property was extremely high,” said David Fritz of NAI KLNB. “The new owner is able to take occupancy of this building with minimal tenant improvements, based on the pristine condition of the space. In addition, the owner assumes the leases and income of three stable and high-quality tenants with the ability to increase the cash flow with available class ‘A’ office space for rent.”
COLUMBIA, MD — Signal Outdoor has signed a lease with Kenwood Management, on behalf of its affiliate Hampton Centre East, for 5,469 s/f of space at 9225 Hampton Overlook in the Capitol Heights section of Prince George’s County, Maryland. Alan Coppola, Josh Halbedel, and Mike Miller of NAI KLNB represented the landlord and Greg Ferraro of JLL represented the tenant in this transaction.
Hampton Overlook is a two-building portfolio contained within the Hampton Center East industrial park.
“We are thrilled to be a new member of the Capitol Heights business community,” said Mary Niemeyer, general manager DC Division.
“The owner recently replaced the roof on two buildings in the portfolio, and upgraded the entire landscaping package, which significantly improved our leasing efforts,” said Alan Coppola of NAI KLNB.
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