The MacKenzie Companies are pleased to provide buyer representation, financing, and management services to 175 Admiral Cochrane Drive, LLC. The entity recently purchased 175 Admiral Cochrane Drive, a 56,000 square foot multi-tenanted building in Annapolis, Maryland.
Patricia Farrell, a Vice President with MacKenzie Commercial Real Estate Services, LLC and Scott Wimbrow, Senior Vice President and Principal with the firm, worked on behalf of the purchaser to complete the $10 million investment sale. Craig Morrell with NAI KLNB represented the seller in the transaction.
“The building was a fantastic investment opportunity,” said Wimbrow. “It’s fully-leased, in a great location, offers a diverse tenant mix, and with some HVAC improvements they will further enhance their return.”
John Black, Senior Vice President of MacKenzie Capital, LLC provided financing for the purchase. “175 Admiral Cochrane Drive is a testament to the availability of institutional, non-recourse low interest rate financing for quality assets at reasonable leverage levels in the capital markets,” he said.
MacKenzie Commercial Real Estate Services, LLC will continue to provide landlord advisory and leasing for the building, which will have 4,000 square feet available this Fall.
MacKenzie Management Company, LLC was also hired to provide third-party management services for the building.
“It was great to work with a team of individuals with so many different areas of expertise,” said a representative of 175 Admiral Cochrane Drive. “The MacKenzie team was able to bring in many of the disciplines that are key for the buyer when purchasing commercial real estate. They found us the building. They found us financing. They even helped us find ways to lower operating costs and strengthen the investment further with their Asset Management division.”
The five-story class A office building is home to numerous businesses including SIDUS, Northwestern Mutual, and the Chesapeake Innovation Center, Anne Arundel County’s technology incubator. Strategically located in West Woods Business Park adjacent Route 50, the modern facility features timeless design, multiple private balconies, covered parking, and a striking entrance lobby.
For more information regarding 175 Admiral Cochrane Drive, financing, third-party management services, or investment sale opportunities, contact Scott Wimbrow at (410) 953-0354 or Patricia Farrell at (410) 974-9003.
Lutherville-based MacKenzie Commercial Real Estate Services, LLC provides a full range of commercial real estate services, including leasing and sales, tenant and landlord advisory services, corporate consulting, commercial and residential development, general construction, property and asset management, market research, and debt and equity capital placement. With offices strategically located throughout the State of Maryland and 140 employees, MacKenzie is one of the largest commercial real estate service firms in Maryland.