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9900 Franklin Square Drive

Jim Lighthizer's Chesapeake Real Estate Group Acquires Office Building In Rosedale, MD For $4.2M
SOLDOffice

Jim Lighthizer's Chesapeake Real Estate Group Acquires Office Building In Rosedale, MD For $4.2M

9900 Franklin Square Drive

$4,200,000

$123/SF

Building Size

34,000 SF

Asset Type

Office

Closing

Nov 22, 2023

AI

The property located at 9900 Franklin Square Drive in Rosedale, MD has been sold in a closed transaction. The office asset, spanning 34,000 square feet, was purchased by Jim Lighthizer of Chesapeake Real Estate Group (CREG) for a total price of $4,200,000, equating to an average price per square foot of $124.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $4,200,000
  • Address: 9900 Franklin Square Drive, Rosedale, MD
  • Market: Rosedale, MD
  • Buyer: Jim Lighthizer - Chesapeake Real Estate Group

This acquisition marks an expansion of Chesapeake Real Estate Group's portfolio. The purchase of 9900 Franklin Square Drive in White Marsh, Maryland adds to their real estate holdings, further strengthening their presence in the market.

Players

Jim Lighthizer

Chesapeake Real Estate Group

Buyer

$9M

vol

2 deals

Buyer

Nottingham Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.78%

Cash-on-Cash

-1.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93