"Sparks - Hunt Valley"

 REAL ESTATE AUCTION 

“Sparks – Hunt Valley”

CLASS A OFFICE
CONDOMINIUM UNITS
Top Level Space – 3 Story Brick Building
Potential for Prominent Sign

Sale On Premises
954 RIDGEBROOK ROAD
Off York Road, Sparks Glencoe, MD 21152

WEDNESDAY, FEBRUARY 13, 2019
AT 11:00 A.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
954 Ridgebrook Road is located in the Highlands Corporate Office Park, about three miles north of Shawan Road in Hunt Valley. The building is situated along the west side of York Road (MD-45), between I-83 Exit 20 (Shawan Road) and I-83 Exit 24 (Belfast Road). The surrounding area is a mixture of rural, residential and commercial land uses.

BUILDING:
954 Ridgebrook Road is a three story brick building, constructed in 2007, containing approximately 61,707 square feet of rentable area.

• Attractive Lobby with 2 Self-service Elevators
• Condominium Building Within a Neighborhood Association
• Ample Parking – 4.5 Spaces/1,000 s.f., unallocated and unreserved
• Landscaped Grounds
• 24 Hour Callbox and Keyfob Access
• Comcast Business Internet and others
• Public Water and Sewer, Gas, Electricity
• Wet Sprinkler Fire Suppression System

Condominium Documents:

• Condominium By-laws
• Condominium Declaration
• Amended Condominium Declaration
• Condominium Association documents – NEW!
• Master Association documents – NEW!

Units 300 and 310 comprise most of the top floor of the building, with a central lobby. Combined area for both units is 17,186 rentable square feet (r.s.f.), which includes core and common areas. Plat of Third Floor. Monthly condominium fees are $4,225.18 combined. Please check back for additional information.

UNIT 300:
12,243 r.s.f. – high end finishes, reception area, break rooms, large conference room, panoramic windows on all exterior walls, 9’+ acoustical tile ceilings, recessed lighting, carpeting and ceramic tile.

Unit 300 is currently occupied by First Financial Group under a lease expiring in April, 2019, at a triple net rental of $35,804.17 per month. The current configuration has approximately thirty offices and work spaces. Furniture Plan

HVAC – one 35-ton water source heat pump with 16 variable air volume (VAV) units

Published Tax Information – $19,988 annual real estate taxes, based on a full value assessment of $1,540,033 and square footage of 9,768.

Lease – Please complete a Waiver and Confidentiality Agreement form to view the lease.

UNIT 310:
4,943 r.s.f. shell space with concrete floor.

Published Tax Information – $8,929 annual real estate taxes, based on a full value assessment of $642,733 and square footage of 4,077.

TITLE:
The units are sold free and clear of liens. Baltimore County Deed Book 27424, Page 55.

Manner and Terms of Sale

MANNER OF SALE:
Each unit will be offered individually and the highest bid reserved. Then, both units will be offered as an entirety.

SUMMARY TERMS OF SALE:
Please refer to the contract of sale for complete terms. A $50,000 deposit on each unit or $100,000 if sold as an entirety, payable by cashier’s check, will be required of the Purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. All adjustments, including rents, taxes, condominium fees, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of settlement and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. Purchaser agrees to waive any rights of rescission under Maryland Condominium and Homeowners Association Law. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the Purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence.

No buyer’s premium.

Auction conducted in collaboration with
AGM Commercial Real Estate Advisors