Two-building complex was 100% leased at time of sale

NAI KLNB has brokered the sale of the Crystal Heights Office Center, a two-building portfolio comprising of approximately 78,000 square feet of commercial office space to Pratt Street Capital, LLC. Located at 10005 and 10015 Old Columbia Road in the Columbia section of Howard County, both buildings were 100% leased at the time of the sale.Abby Glassberg and David Fritz, SIOR, CCIM of NAI KLNB represented both the buyer and the seller, BRIT-Crystal Heights, LLC in this transaction.

10005 Old Columbia Road is a two-story, 52,334 square foot commercial office building and 10015 Old Columbia Road is a two-story, 25,842 square foot office building. Contained on approximately six acres of land, the buildings are served by adjacent surface parking lot offering free parking. The office center is located within direct proximity to MD Route 32 and is within two miles from both MD Route 29 and Interstate 95. Columbia Town Center is within five miles from the site.

“There was a significant drop-off in the sale of investment-grade commercial office buildings, warehouse and industrial product last year, as many assets were leasing-challenged or distressed,” explained Abby Glassberg of NAI KLNB. “Crystal Heights Office Center bucked the trend, in part due to the strong leasing fundamentals that exist at the portfolio.The new owner acquired a well-maintained and strategically-located office building that contains every necessary element to achieve long-term value. Our team was able to sell these assets close to the asking price.”

Founded in 1968, KLNB, LLC is comprised of two real estate services companies that includes NAI KLNB, a division that focuses on the sale and leasing of commercial office, industrial and warehouse properties, as well as KLNB Retail, which specializes in the sale and leasing of retail properties as well as tenant representation. KLNB Paragon Commercial Property Management, a full-service provider of commercial real estate property and asset management services. In addition, ArrisRealty Capital, is a capital markets division that provides real estate financing options.

KLNB, LLC provides a full range of integrated brokerage, sales, financial, investment and strategic advisory services to the commercial office, industrial and retail marketplace. Headquartered in Towson, MD, the other four full-service offices are located in Columbia, MD; Washington, D.C., as well as Tysons Corner and Dulles, Virginia. For additional information visit www.klnb.com