Pine Pep Properties, LLC has acquired 2001-2003 Greenspring Drive, a single-story industrial and warehouse building in the Timonium section of Baltimore County, for $2.3 million. The property totals 12,170 square feet and was purchased from 2001-2003 Greenspring Dr, LLC. Patrick J. Smith, Nick Maggio, and Mike Ruocco of MacKenzie Commercial Real Estate Services represented the seller in the transaction, while KLNB’s David Fritz represented the buyer.
The asset, which fronts Greenspring Drive, was originally delivered in 1978 and underwent a full renovation in 2024. The building features 16-foot ceiling heights and is equipped with two dock doors, positioning it for a range of industrial and light-distribution uses. Approximately one-half of the building is occupied by Baltimore Flooring Supply, which is maintaining its presence at the property.
Pine Pep Properties intends to introduce The Yard Gym Timonium, described as a boutique, performance-driven training center with locations nationwide, in the building’s roughly 4,200-square-foot vacant space. The opening is planned for this fall, adding a fitness-focused use alongside the existing industrial tenant. By combining a new gym concept with an established flooring supply tenant, the buyer is seeking to utilize the building’s remaining vacancy while benefiting from current in-place occupancy.
According to MacKenzie Commercial Real Estate Services, Baltimore Flooring Supply occupies about half of the total building area, providing the new owner with immediate income from a long-standing tenant. The brokerage noted that Pine Pep Properties has acquired a highly visible and strategically located property and expects the remaining vacancy to be backfilled with the planned fitness concept. The transaction underscores ongoing investor interest in well-located, recently renovated industrial assets that offer both current cash flow and additional lease-up potential.
