St. John Properties Acquires Glen Burnie Property For $13.3 Million With Graham Savage As Seller's Representative

The property involved in the transaction is Aviation Business Park, consisting of three commercial buildings located at 6956, 6958, and 6960 Aviation Blvd, Glen Burnie, MD 21061, within the Glen Burnie market. The total area of the portfolio is 120,000 square feet, and it was sold for $13,300,000. At the time of sale, the buildings were approximately 63 percent leased.

Summary of transation details:

• Property Type: Commercial Portfolio
• Transaction Amount: $13,300,000
• Square Footage: 120,000
• Address: 6956 Aviation BLVD, Glen Burnie, MD 21061, USA
• Market: Glen Burnie
• Seller: Adler Real Estate Partners
• Buyer: St. John Properties
• Seller's Representative: Graham Savage-Cushman & Wakefield
• Leasing Status: Approximately 63 percent leased
• Investment Plans: St. John Properties plans to invest $1.5 million to reposition one of the properties to flex/R&D space.

Graham Savage, Jonathan Carpenter, and Dawes Milchling of Cushman & Wakefield represented the seller, Adler Real Estate Partners, in this transaction. St. John Properties was self-represented in the acquisition, which marks their second significant acquisition in recent months following the purchase of Triangle Business Park.