LINTHICUM, MD-Consolidated Equities picked up a parcel of land here from Kimco. The parcel, called Southwest Property, is located at 724 Nursery Rd. MacKenzie brokered the transaction. The investment sales team was led by Donald K. Schline and Dani el A. Hudak, working on behalf of Kimco.
The property consists of two single-story flex buildings, totaling 22,900 square feet and a long-term ground lease to Southern Maryland Oil, the operator of a Shell station and automobile repair bays. The flex buildings were 100 percent leased and occupied by long term tenants including Otis Elevator.
"The stable cash flow from the long-term lease to Southern Maryland Oil, coupled with the re-development potential of the flex buildings situated on the entrance and exit ramp to I-695 provides Consolidated Equities with a stable income stream and a unique re-development opportunity," says Schline in a prepared statement.
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