Towson Building Sells For $2.65 Million

TOWSON, MD — A 16,000-square-foot building in the heart of Towson has sold for $2.65 million, officials announced Tuesday.

The sale was secured by the KLNB commercial real estate brokerage firm.

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Located at 400 E. Joppa Road, the four-story building has undergone various upgrades, including a new roof and HVAC system.

While the names of the buyer and seller were not disclosed, KLNB did indicate the investment group would occupy a portion of the building. The group is retaining the existing tenants.

"Well-located office buildings continue to be compelling wealth-generation vehicles for companies looking beyond traditional leasing," said Don Schline, who serves as the senior vice president of KLNB.

"Ownership provides real advantages like equity building, tax benefits, and long-term financial stability, that leasing simply can't replicate. While the office market has faced headwinds in the post-pandemic environment, this transaction is a testament to the enduring value of quality, strategically positioned assets.”

The building, which comes with 56 parking spaces, was marketed as part of a four-month campaign that attracted "exceptional investor interest," according to KLNB.

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