The commercial real estate brokerage firm of Marcus & Millichap announced the sale of Northbay Professional Pavilion, a medical office property located in Elkton, MD.
The property sold for $4.5 million or $228.94 per square foot. The buyer and seller were not disclosed.
“Northbay Professional Pavillion was originally developed in 2008 by the sellers,” says Jacob Haslach, associate. “This asset was very attractive to the investment community because of the building’s great condition, the value-add components and the rent roll had long-term tenants with clean leases.”
The medical building is about four miles west of Glasgow and is off Route 40 (Pulaski Highway).
