Overview
KLNB Retail Capital Markets is pleased to announce for sale the ownership interest of a condominium regime that includes a multi-unit retail and parking garage, and a leasehold interest in The Washington Avenue Garage. The offering comprises a portion of Towson Row – Baltimore County’s premier 1.2M SF mixed-use retail, residential, student housing, hotel, and office development. The retail portion for sale consists of three leased ground floor retail suites on West Towsontown Blvd and four ground floor retail suites along West Susquehanna Ave, two of which are occupied and two are available for lease. The parking garages consist of the primary Towson Row Garage, servicing Whole Foods, Towson Row Retail, and the residential buildings, with the Washington Ave Garage being a freestanding public parking garage that serves the Susquehanna Retail and neighboring residents.
Investment Highlights
- Retail Condo and Parking Garages situated in the larger Towson Row development—Baltimore County’s premier 1.2m SF mixed-use retail, residential, student housing, hotel and office development in the heart of downtown Towson, Maryland
- Value-Add Opportunity; 71% leased; retail value-add opportunity with stable and consistent cashflow from the parking garages
- Shadow anchored by a high performing Whole Foods and anchored by national retail brands such as Rasing Canes, Auntie Anne’s/Cinnabon/Jamba Juice and Paris Baguette
- Excellent position within the larger Baltimore County and Towson proper submarkets
- Surrounded by superb demographics with 119,998 residents with an average household income of $137,000+ within a 3-mile radius. Daytime population within a 3-mike radius of 130,000+.
- Proximity to major state and submarket drivers such as Towson University and Goucher College (21,400+ Students)
Extraordinarily Dense and Affluent Submarket
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