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Towson Commons Sells for $18 Million

CSG Partners Acquires 10-Story Office Tower and Parking Garage from Garrison Investment Group
January 9, 2018
Baltimore-based CSG Partners expanded its holdings in Towson with the real estate development and investment company's purchase of the Towson Commons from Garrison Investment Group for $18 million.

Towson Commons consists of the 210,000-square-foot, 10-story office building at 1 W. Pennsylvania Ave. and the eight-story parking garage at 40 W. Chesapeake Ave.

CSG Partners acquired the property, which was reportedly 90% leased at the time of sale, with the intent to invest millions in the property to upgrade the building.

Jonathan M. Carpenter, Graham Savage, Nicole Keelty and Andrew Posil of Cushman & Wakefield’s Baltimore office brokered the sale for Garrison Investment Group. Doug Brinkley and Lizzy Sweeney, also of Cushman & Wakefield Baltimore, will handle leasing at the property on behalf of the new owner.

Please see CoStar Comp #4092695 for additional details on the transaction.
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