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ShoreGate Partners buys two Annapolis Design District buildings for $3.7 million

ShoreGate Partners has purchased the property at 207 Chinquapin Round Road
ShoreGate Partners has purchased the property at 207 Chinquapin Round Road (Courtesy Photo)

An Easton-based commercial real estate company has purchased two buildings on Chinquapin Round Road in the Annapolis Design District for approximately $3.7 million, the company announced Thursday.

ShoreGate Partners purchased a 7,300 square-foot building at 300 Chinquapin Round Road for $1.2 million. The other is at 207 Chinquapin Round Road, an 11,000 square-foot office building that sold for about $2.5 million. Both properties are currently vacant.

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The company now owns four properties in the Annapolis Design District. ShoreGate also owns 209 Chinquapin Round Road, which houses several businesses including Third Eye Comics, and 1805 Virginia Street, where Fisher Auto Parts are located, said company spokesman Larry Lichtenauer.

“The Annapolis Design District brand continues to grow, both locally and regionally, and the addition of compelling destination-style restaurant, hospitality and retail uses will help elevate interest and attract consumer demand for the local businesses,” Justin Nonemaker, co-founder and Principal of ShoreGate Partners said in a news release.

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ShoreGate is planning to complete a $500,000 renovation of the parking lot and interior and exterior of 300 Chinquapin Round Road to attract “the varied needs of craftsmen, artisans and boutique merchants,” according to a company press release. The company will also renovate the 207 Chinquapin Round Road property to be used by a restaurant or hospitality company.

“Since our initial building purchase in 2014, we have witnessed and played an integral role in the continued renaissance and expansion of the Annapolis Design District,” Eric Zagorsky, co-founder and Principal of ShoreGate Partners, said in the release. “We seized the opportunity to acquire additional value-add assets in the district because we see the on-going demand for restaurants, boutiques and related arts and entertainment uses to add to the existing energy and momentum.”

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