Maryland Land and Professional Condos Available in Chapter 7 Bankruptcy Sale

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Sep 03, 2024, 08:28 ET

In fast-growing Laurel and Greenbelt markets, A&G offers a 19-parcel, 3.44-acre development site as well as linked condo units in two professional buildings

BALTIMORE, Sept. 3, 2024 /PRNewswire/ -- A&G Real Estate Partners is now accepting purchase offers for a 3.44-acre development site with 19 commercial and residential land lots, as well as linked condo units in two professional buildings, all in suburban Maryland.

The New York-based firm is conducting the Chapter 7 bankruptcy sale on behalf of court-appointed, Maryland-based trustees Roger Schlossberg and Merrill Cohen.

7755 & 7757 Belle Point Drive, Greenbelt, Maryland

13922 Baltimore Avenue, Laurel, Maryland

The three available assets are:

A 3.44-acre development site, located in suburban Laurel on U.S. Route 1 (Baltimore Ave.), boasting 19 commercial and residential land lots.
Two linked medical office units in a professional building in Laurel, also on U.S. Route 1, (Baltimore Ave.).
Two linked units in a professional condo building in Greenbelt, part of a thriving tech hub near the Capital Beltway.

"The land parcels in Laurel provide ample space for potential development projects, allowing for versatility in design and construction," said Emilio Amendola, Co-President of A&G Real Estate Partners and head of the firm's real estate sales division. "Laurel and Greenbelt are highly desirable locales, with major potential, making these professional condo units attractive assets for developers, investors and tenants."

The 3.44-acre development site is comprised of sixteen commercial and three residential parcels in Laurel located just off Route 1 in the Oakcrest subdivision along Walnut Avenue, Maple Ridge Drive and Maple Street. They are close to major transportation routes like Interstate 95 as well as multiple public transit options. Several of the lots are adjacent to one another.

The two medical office condo units in Laurel are connected and boast ample parking as well as proximity to parks, hotels and attractions. One unit encompasses 3,172 square feet, the other 6,342 square feet. "This area in Laurel is known for its hospitals, clinics and medical offices, making it an ideal location for medical professionals looking to start or expand a business or practice," noted Mike Matlat, a Senior Managing Director in A&G's real estate sales division.

The two linked office condo units on Belle Point Drive in Greenbelt are 860 and 880 square feet, respectively. "These second-floor units, which are in a townhouse-type property that houses four such units in total, are ideal for an array of office users," Amendola said. "They're close to major roadways like I-495, I-95 and Route 193 and so they provide easy access to customers in Washington D.C. as well as dense markets in Maryland and Virginia."

Packed with tech and research companies, fast-growing Greenbelt also is home to numerous legal offices, in part because it is just minutes from the federal courthouse on Cherrywood Lane. "These assets represent a very strong opportunity for real estate tenants and investors," Amendola said.

For further information on the assets, visit https://agrep.com/real-estate-for-sale or contact Emilio Amendola, (631) 465-9507, [email protected], or Mike Matlat, (631) 465-9508, [email protected].

Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected]

SOURCE A&G Real Estate Partners