Red Branch Road Building Sells For $7.2 Million In Columbia

COLUMBIA, MD — As a commercial building in Columbia changes hands, the new owner reports that it is "extremely bullish" on the economy in Howard County. Specifically, it is optimistic about one part of Columbia.

"As evidenced by our recent acquisition activity, our team is extremely bullish on the long-term vitality of both the commercial office market and overall Howard County economy,” Feldman Bergin Properties co-founder and principal Evan Feldman said in a statement.

The Feldman firm partnered with Fortified Property Group to acquire a building at 9176 Red Branch Road, officials announced this week.

The brick-and-glass building, which is completely leased, sold for $7.2 million. Current tenants are electronics infrastructure firm ARK Systems, furniture restoration business Joseph’s Refinishing & Upholstery and medical technology company Xcision Medical Systems.

"Based on our research, the Columbia North submarket consistently outperforms neighboring areas with its current 7.2 percent vacancy rate for single-story office/flex space," Feldman said. "We plan to build upon the critical mass of office space in this region because we remain extremely confident about the long-term fundamentals present."

Built in 1973, the building on Red Branch Road is located less than a mile from US 29, 20 miles from Baltimore and 25 miles from Washington, D.C. It encompasses 81,000 square feet.

This is the second deal that Feldman Bergin Properties has entered into in Columbia recently.

In fall 2017, the company purchased three buildings at 8970, 8980 and 8990 MD Route 108. Those are less than a mile from the Red Branch Road property. In the Route 108 portfolio, the buildings are 85 percent leased, and Feldman noted that Sapwood Cellars, a new local craft brewery, is leasing 7,200 square feet.

Fortified Property Group partner Michael Rabin said that having four buildings in the area, totaling more than 160,000 square feet, will "enable us to achieve economies of scale as it related to management and leasing."

SEE ALSO: Columbia Brewery Opening Off Route 108

Submitted photo.