Greenebaum Enterprises acquires Pikesville, MD medical office for $15.6m

Avison Young has announced that they represented Harrison Street Real Estate Capital in the sale of 1829 Reisterstown Road in Pikesville, Maryland for $15.6 million. The asset was acquired by Greenebaum Enterprises. Trading for just under $210 per square foot, the 74,296 sqf building was 93 percent leased at the time of the sale. Harrison Street bought the building from Washington WRIT as part of a 23-building medical office portfolio in 2013. Avison Young Principals Jim Kornick, Chip Ryan, Mike Wilson, Erik Foster and Executive Vice-President of healthcare services Mark Johnson represented the seller. Avison Young Principal Jim Kornick said the transaction provides Harrison Street with a strong return on its investment while Greenebaum with an asset that produces consistent long-term revenues.