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Baltimore Key RE Acquires Fully-Leased Office Building in Baltimore City
Baltimore Key RE, LLC has acquired a two-story office building located at 1111 Key Highway in the Locust Point neighborhood of Baltimore City for $7.75 million. The nearly 15,000-square-foot property was purchased from Woodall GPA, LLC.
Jim Grieves, Vice President of MacKenzie Commercial Real Estate Services, LLC, represented the buyer. The acquisition includes not only the office building but also the franchise rights to The Goddard School, which occupies 100% of the building. Additionally, the deal includes a second Goddard School franchise located at 1000 S. Highland Avenue in the Canton area of Baltimore.
Christopher Burnham and Graham Slifer of KLNB represented the seller in the transaction. Financing was arranged by MacKenzie Capital.
The asset, known as The Goddard School Building, was a build-to-suit project completed in 2023. It features 14 classrooms, as well as indoor and outdoor recreation areas.
“The buyer acquired an institutional-quality and fully-leased asset, while also adding two strategically-located Goddard School franchises to their core holdings,” said Jim Grieves.
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