Historic VA-Leased MOB in Baltimore Sells

The medical office building in the Lexington Market/Inner Harbor area of Baltimore sold for nearly $180 per square foot.

Baltimore VA AnnexBaltimore VA Annex

Baltimore—Marcus & Millichap has brokered the sale of the Baltimore VA Annex, a 74,000-square-foot medical office building that is fully leased to the U.S. Department of Veterans Affairs (VA), the company announced late last week. The approximately $12.3 million sales price equates to nearly $180 per square foot.

The identities of neither the seller, described as a regional investor with a diverse group of assets, nor the buyer, a Seattle-based entity investing in the Baltimore market for the first time, were disclosed.

The building, at 209 W. Fayette St. in the Lexington Market/Inner Harbor area, is three blocks from the 137-bed Baltimore VA Medical Center and serves to augment the clinical, research and administrative programs there. Built in 1920, the property was used by Catholic Relief Services before the VA took occupancy in 2010…


Historic VA-Leased MOB in Baltimore Sells

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