Cassidy Turley, a leading commercial real estate services provider in the U.S., announced the sale of the Plumtree Professional Center at 104 Plumtree Road in Bel Air.
This 33,921-square-foot, single-story medical office building is fully leased to five tenants and is within close proximity to the Upper Chesapeake Medical Center. Jonathan M. Carpenter and James S. Wellschlager of Cassidy Turley's Capital Markets Group represented the seller, Washington Real Estate Investment Trust. The Atkins Companies, based in New Jersey, purchased the property for $8.75 million, or $258 per square foot.
"This sale represented a rare opportunity for an investor to purchase a stable medical office property in the growing and affluent market of Harford County, Maryland," Jonathan M. Carpenter, senior vice president and principal at Cassidy Turley, said. "Medical office assets remain attractive to both institutional and private investors due to their stable cash flows and irreplaceable locations near key healthcare demand drivers."