Chesapeake Real Estate Group (CREG) has recently acquired the Rivers III portfolio, which includes three flex/office buildings totaling 43,400 square feet in Howard County, Maryland. The purchase was made for $4.8 million from Adler Real Estate Partners.
The properties are located at 10270, 10280 and 10290 Old Columbia Road and were previously known as Rivers III. This acquisition follows CREG’s recent purchase of a single-story office building at 9900 Franklin Square Drive in Baltimore County for $4.2 million.
According to Jim Lighthizer of CREG, the Rivers III portfolio is situated in a prime location with well-built and meticulously maintained assets that require minimal capital improvements. Additionally, there is potential for value-add opportunities through leasing efforts.
Cris Abramson and Nick Signor of Newmark represented the seller while Chesapeake Real Estate Group handled their own representation during this transaction.
This article was originally published on Connect CRE but has been modified to improve SEO optimization.
