The Lake Falls Professional Center has sold for $5 million.
Located just north of Lake Roland and visible from the Jones Falls Expressway, the five-story office building contains 39,000 square feet of space and sold over a 30-day period.
The seller was 6115 Falls Road Professional Center LLC, which had owned the building since 2000. It was represented by Senior Vice President Don Schline and Principal Chris Kubler of KLNB.
The buyer is Weinman Company, a local family-owned real estate company that has been in business for more than 100 years and has a portfolio of commercial and retail assets within Baltimore and the surrounding counties. Leasing is being handled by Matt Haas, Kevin Haus and Jesse Schwartzman of JLL.
$128.20 per sf seems like a good price including land… $5,000,000/39,000sf. What’s going on ? Why so low ?