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

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.