Maryland Arts EXplosion Leases Office Space From Sydney Needle At 9603 Deereco Road In Timonium
9603 Deereco Road
Building Size
3,504 SF
Asset Type
Office
Closing
Mar 4, 2025
About this deal
AI
The property asset involved in this transaction is an office space located at 9603 Deereco Road in Timonium, MD. The asset encompasses a total area of 3,504 square feet and is situated within the Padonia Commerce Building.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Lease Date: 03/04/2025
- Landlord: Sydney Needle
- Tenant: Maryland Arts eXplosion
- Broker: Danielle Bridge - Hill Management Services
The key individuals involved in this transaction include Sydney Needle, who is both the landlord and the owner of Maryland Arts eXplosion, and Danielle Bridge, the broker representing the interests of the landlord. Maryland Arts eXplosion, a youth-focused dance studio, has relocated to this new site to continue offering diverse dance classes.
Players
Lutherville Timonium Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93