JTRE Holdings LLC Acquires Retail Property In Towson, MD From Garrison Investment Group
435 York Road, Unit # 1
48,000 SF
Summary
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.
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