A prominent five-level office building in Towson sold this month for $2.65 million. 400 East Joppa Road, a 16,000-square-foot building at the intersection of Joppa Road and Fairmount Avenue, sold on May 6. KLNB’s Capital Markets team exclusively marketed the building over a four-month p eriod and received multiple full-price offers. The transaction was led by KLNB Senior Vice President Don Schline and Principal Joe Nolan. The buyer’s identity has not been disclosed, but KLNB said it is an owner-user investment group that will occupy a portion of the building while retaining its existing tenants. 400 East Joppa Road was constructed in 1966 and completely renovated in 2014. It was 58 percent leased at the time of the sale. It’s within easy walking distance of Towson Town Center and Hampton Plaza and a short driving distance from Towson University, the Towson courts, the Greater Baltimore Medical Center and other destinations in the seat of Baltimore County government. According to a directory on the premises, tenants include: Allstate; No Quarter Consulting LLC; Styrene Information Research Center; Jeffrey Brown Contracting; ACRY GR; Opara Law Firm, and the Law Offices of Governor E. Jackson III LLC. The property includes 56 parking spaces, and more than 21,000 vehicles pass it per day. Recent improvements include a new roof, new HVAC systems, and updated common areas. The building’s location, condition and visibility were key selling points. “Well-located office buildings continue to be compelling wealth-generation vehicles for companies looking beyond traditional leasing,” Schline said in a statement. “Ownership provides real advantages like equity building, tax benefits, and long-term financial stability, that leasing simply can’t replicate. While the office market has faced headwinds in the post-pandemic environment, this transaction is a testament to the enduring value of quality, strategically positioned assets.” ...read more read less