Broadmead, Inc. has acquired a three-building commercial office portfolio in the Sparks section of Baltimore County as part of a long-term strategy to convert the more than 220,000 square feet of space into 80 independent living residences and amenities.
Tom Fidler, Executive Vice President and Principal of MacKenzie Commercial Real Estate Services, handled site selection activities and represented Broadmead in the sale negotiations. The acquisition comprises a collection of mid-rise buildings on approximately 60 acres of land. It is currently less than 5 percent leased to various commercial office tenants. Broadmead intends to convert the interconnected buildings into independent living residences.
“Broadmead has been searching for land or existing building assets that could fulfill its mission of providing best-in-class residential living and healthcare services, and MacKenzie identified the Ridgebrook Road campus, which is within close proximity to its current facility,” said Fidler. MacKenzie Management Company has been selected to handle asset management services for the three buildings.
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