Harford County government paid $1.49 million to acquire the Bel Air property of the law firm Brown, Brown & Young.
“This is a strategic location for the government to own because we’re already here,” said Cindy Mumby, the county’s governmental and community director. She added that it was an opportunity the town might never have again.
The South Main Street office is on the same block as the county administration building and down the street from other county offices such as community services and economic development.
The property, which includes three buildings and two parking lots, is being leased back to Brown, Brown & Young for $10,700 a month, or about $16 per square foot, Mumby said. The firm will pay for taxes and maintenance.
Mumby said while the county had no immediate need for the property, it could potentially be used to expand county office space.
The Morning Sun
Albert J.A. “Jay” Young said the sale has not affected the firm’s operations, calling the transition “completely seamless.”
“We’ve been here for a long time,” Young said. “There’s no debt on it. And the market’s very hot. … So, this was just good timing.”
The deal was closed May 18 after the Board of Estimates approved it March 8. The county, as required by county code, had two appraisals on the property, one for $1.825 million and one for $1.49 million, the latter of which was the purchase price.
Mumby said the county was first approached about buying the property in August 2021. She said it’s not atypical for the county to receive inquiries about buying property.
Rental income from leasing the property will go to the county’s general operating fund, Mumby said.
Young said the firm plans to remain at the property for the time being.
“If the time comes that the county identifies a use for the property,” Young said, “we’ll find another place to lease in the town of Bel Air.”