Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1989
Building Area
Land Area ()

Property Description

Jones Lang LaSalle, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present the opportunity to purchase 4201 Patterson Avenue (the “Property”), a 5-story, 84,674 SF office asset in the Northwest Submarket of Baltimore, Maryland. 100% leased to the State of Maryland through April 2025, the Property assures stability through the State of Maryland’s AAA Credit rating. In addition, the asset has been fully leased by the State for over 20 years and sits inside the Baltimore Beltway, featuring convenient access to I-83 and I-695 and walking distance to the Reisterstown Plaza Metro Station. The below market in-place rents coupled with its proximity to major Interstate Highways and the Metro increase the likelihood of renewal upon lease expiration.




Accordingly, 4201 Patterson Avenue is a compelling investment opportunity that offers an invaluable, metro-accessible location with the highly coveted State of Maryland credit tenancy within the Baltimore City Limits. The property’s entrenched cash flow provides strong cash yields and the opportunity to drive value through mark-to-market potential and a likely renewal of the State of Maryland.

Investment Highlights

  • INSTITUTIONALLY OWNED AND HISTORICALLY LEASED TO THE STATE OF MARYLAND FOR OVER 20 YEARS


  • MULTI-MODAL ACCESSIBILITY: LOCATED WITHIN A 5-MINUTE WALK TO THE REISTERSTOWN PLAZA METRO STATION AND PROXIMATE TO I-83 AND I-695


  • LOCATED IN THE HIGHLY AMENITIZED REISTERSTOWN METRO MICROMARKET, WITH IMMEDIATE PROXIMITY TO THE REISTERSTOWN ROAD PLAZA SHOPPING CENTER


  • STRATEGICALLY ROOTED WITHIN THE BALTIMORE CITY LIMITS, BENEFITING FROM THE STRONG EDUCATION AND MEDICAL SECTORS


  • SIGNIFICANT DISCOUNT TO REPLACEMENT COST, OFFERING ATTRACTIVE CASH YIELDS AND MARK-TO-MARKET POTENTIAL WITH HIGH RENEWAL LIKELIHOOD


  • FREE AND CLEAR OF EXISTING DEBT
Last Updated Date: 05 Oct 2021
James Molloy
James Molloy
Managing Director, Capital Markets
Jay Wellschlager
Jay Wellschlager
Managing Director, Capital Markets

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Last Updated Date: 05 Oct 2021

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