We’re excited to announce the sale of the Magothy Medical Professional Center at Chesapeake Health Park!
The 10,000 SF multi-tenant Medical Office Building (MOB) in Pasadena was acquired on 12/29 by Thomas Park Investments (TPI). RossoCRE was hired by the Seller, Gary Koch, to sell the property. After a prior contract fell through mid-COVID, RossoCRE identified TPI, who successfully consummated the acquisition of the MOB prior to 2020 coming to a close. TPI is a private equity real estate investment firm that acquires medical office buildings throughout the Mid-Atlantic and Northeast.
Magothy Medical is home to Annapolis OB/Gyn and Annapolis Rheumatology, with one remaining 4,245 SF space available. Other nearby businesses include Maryland Primary Care, The YMCA, CVS, and two grocery anchored shopping centers. RossoCRE has been retained by TPI to spearhead the leasing of the remaining vacancy.
Congrats to TPI and the Seller! Here we come 2021!! ??
John Rosso and Ryan Brassel of RossoCRE brokered the sale.