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435 York Rd, Towson, MD 21204

JTRE Holdings LLC Acquires Retail Property In Towson, MD From Garrison Investment Group
SOLDRetail

JTRE Holdings LLC Acquires Retail Property In Towson, MD From Garrison Investment Group

435 York Rd, Towson, MD 21204

$10,375,000

$216/SF

Building Size

48,000 SF

Asset Type

Retail

Closing

Apr 7, 2022

AI

The retail property located at 435 York Rd. Unit #1 in Towson, MD has been sold in a transaction. The property has a size of 48,000 square feet and was sold for a price of $10,375,000, resulting in a price per square foot of $216. The sale also included an impressive 10.5% capitalization rate. The buyer, JTRE Holdings LLC represented by Jack Terzi, acquired the property from the seller, Garrison Investment Group. The deal was facilitated by Mark Theil from Marcus & Millichap. Sandy Spring Bank provided the financing for the transaction. The property is currently leased to LA Fitness.

Summary of transaction details:

  • Property Type: Retail
  • Sale Price: $10,375,000
  • Square Footage: 48,000
  • Price per Square Foot: $216
  • Capitalization Rate: 10.5%
  • Buyer: JTRE Holdings LLC - Jack Terzi
  • Seller: Garrison Investment Group
  • Broker: Mark Theil - Marcus & Millichap
  • Lender: Sandy Spring Bank
  • Tenant: LA Fitness

The successful transaction of the retail property at 435 York Rd. Unit #1 in Towson, MD was facilitated by the expertise of Mark Theil from Marcus & Millichap. With the buyer, JTRE Holdings LLC, represented by Jack Terzi, and the seller, Garrison Investment Group, coming to an agreement, the property was sold for a price of $10,375,000. The financing for the deal was provided by Sandy Spring Bank. The property, which spans 48,000 square feet, is currently leased by LA Fitness.

Players

Mark Thiel

Marcus & Millichap

Broker

$86.2M

vol

9 deals

Broker
Jack Terzi

Jack Terzi

JTRE Holdings

Buyer

$114.6M

vol

13 deals

Buyer
GG
Garrison Investment GroupSeller

Towson Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.53%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93