CSG Partners Sells 7450 Coca Cola Dr. in Howard County to Agency Properties
CSG Partners, LLC has sold 7450 Coca Cola Drive, a single-story, 12,332 square foot Class "A" office building to Agency Properties, LLC for $2.4 million. The building will be occupied by the Agency Holding Company (AHC), which plans to relocate more than 70 employees from its existing headquarters location at 939 Elkridge Landing Road near BWI International Airport.
Charlie Fenwick and Andrew Smith of Colliers Pinkard represented the landlord and Antony Gross of MacKenzie Commercial Real Estate Services, LLC handled negotiations for the buyer in this transaction.
The building, which features a pre-cast exterior, was delivered earlier this year. It is located within CSG's Patapsco Valley Office Campus, a four-building business community located off MD Route 100 in Howard County that contains approximately 135,000 square feet of space.
Founded in 1975, Agency Holding Company provides personal insurance and insurance-related products to the mid-Atlantic and Florida. AHC expects to complete this office move by the end of 2009.
"The ability to own a 12,000 square foot, free-standing office building - as opposed to an office condominium - just does not exist in the corridor," stated Alan Grabush, Principal, Director of Marketing and Acquisitions for CSG Partners, LLC. "I think AHC came to this realization after an extensive search for both sale and lease options."
"This project represented the perfect real estate solution for Agency Holding Company which had out-grown its present space, and was looking for an owner-user situation in a new Class "A" building within the corridor," stated Andrew Smith of Colliers Pinkard. "An added bonus to the company was acquiring a project that allowed all employees and departments to work on the same level, which contributes to inter-office communication and convenience."
Patapsco Valley Office Campus is contained in a Howard County location that offers access to MD Routes 295 and 100, and Interstates 95 and 195. It is less than five miles from major employment centers in the BWI Airport sub-market, Fort Meade and Columbia, two miles from BWI Airport, and less than a mile from a MARC train station.
The State Highway Administration also has announced plans to construct a new interchange one-half mile away at MD Route 295 and Hanover Road that, upon completion, will provide Patapsco Valley Office Campus direct access to this major north/south highway.
Baltimore-based CSG Partners designs, builds and manages commercial office, flex and industrial space throughout the Mid-Atlantic region including the Maryland, Delaware, southern Pennsylvania and Virginia marketplaces.
