Baltimore Key RE, LLC, has acquired 1111 Key Highway, a two-story, nearly 15,000 square foot commercial office building located in the Locust Point section of Baltimore City, from Woodall GPA, LLC, for $7.75 million.
Jim Grieves, Vice President of MacKenzie Commercial Real Estate Services, LLC, represented the buyer in a transaction that also included the franchise rights for The Goddard School, which leases 100 percent of the building, and a second Goddard School franchise located at 1000 S. Highland Avenue in Canton.
Christopher Burnham and Graham Slifer of KLNB represented the seller of the asset, which is also known as The Goddard School Building. MacKenzie Capital provided financing for the transaction.
The build-to-suit building was delivered in 2023 and is equipped with 14 separate classrooms, indoor and exterior recreation space. “The buyer acquired an institutional-quality and fully-leased asset, while also adding two strategically-located Goddard School franchises to their core holdings,” said Grieves.
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