The Towson Commons office building and garage have been sold to Baltimore-based CSG Partners for $18 million.
The deal for the 10-story office building at 1 W. Pennsylvania Ave. in Towson and the eight-story parking garage closed Dec. 14. The building, which is anchored by LA Fitness, was 90 percent leased at the time of the sale.
“The sale of Towson Commons represents a new chapter with the building,” said Jonathan M. Carpenter, executive director of Cushman & Wakefield, which assisted in the sale.
Carpenter said CSG planned to invest millions of dollars in upgrades to the building, which was built in 1992, according to property records.
“These capital enhancements, combined with the new retail amenities on the ground floor and the highly successful LA Fitness facility, will make the building one of the premier office locations in Baltimore County,” Carpenter said.