White Marsh 'Renaissance' Spurs 5-Building Purchase

WHITE MARSH, MD — Five office buildings in White Marsh have changed hands, purchased by a firm that said it was attracted to the "renaissance" in the area.

The purchase included 8007, 8013, 8015, 8019 and 8023 Corporate Drive, a group of single-story brick office buildings, which Kenwood Management purchased from Corporate Office Property Trust (COPT).

“White Marsh has been experiencing a renaissance with new shopping centers, medical facilities and entertainment," Principal of Kenwood Management Company Bill Singer said in a statement. “We were attracted to these buildings because of the incredible location at I-695 and I-95 and adjacent to the great retail stores and restaurants at The Avenue at White Marsh."

Two of the five buildings are fully leased, with tenants such as Verizon, MedStar, Fresenius Medical Care and Ryan Homes occupying spaces at 8013 and 8015 Corporate Drive.

"These properties offer a timeless brick design and very versatile spaces featuring direct access to each suite from the parking lot," Singer said, noting that COPT "did a terrific job maintaining these properties, and we hope to build on those results."

Kenwood plans to lease out the remaining spaces through corporate leasing specialist MacKenzie Ventures.

Those at MacKenzie were optimistic about the future of the office buildings due to the area.

“The White Marsh market continues to build in strength,” MacKenzie's Meghan Roy said in a statement, noting the area has been "attracting consistent interest specifically from mid-size users, as evident in its decreasing vacancy rate, down nearly 2.5 percent since this same time last year."

Photos courtesy of MacKenzie.