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5457 Twin Knolls Road - Twin Knolls Business Park - Overlook Center, Columbia, MD

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5457 Twin Knolls Road - Twin Knolls Business Park - Overlook Center

Columbia, MD 21045-3259 - Columbia South Submarket


Property Type:Office Sub Type:- Status:Existing , Renov January 2002 Year Built:1983
Stories:4 Typical Floor:17,787 SF Building Size:70,404 SF
Smallest Space:1,390 SF Largest Space:5,402 SF Total Space Avail:12,699 SF Rent/SF/Yr:
$19.00 - $22.50
Parking:Free Surface spaces are available; Ratio of 3.39/1,000 SF Amenities:Atrium, Balcony, Courtyard, Hotel


Space Available:
Floor
SF Avail
Rent
Occupancy
Lease Term
Space Use
 3rd
1,390 SF
$21.00/SF/Yr
Vacant
Negotiable
Office
 3rd
2,236 SF
$21.00/SF/Yr
Vacant
Negotiable
Office
 3rd
5,402 SF
$19.00 - $20.00/SF/Yr
Vacant
Negotiable
Office
 4th
3,671 SF
$22.50/SF/Yr
Vacant
Negotiable
Office
 
10916516
10916525
11075
8298553
Floor Plan
  
Marketing Flyer Marketing Flyer  
Space Notes Space Notes  


Floor
SF Avail
Rent/SF/Yr
Occupancy
Lease Term
Space Use
3rd
1,390 SF
$21.00/SF/Yr
Vacant
Negotiable
Office
3rd
2,236 SF
$21.00/SF/Yr
Vacant
Negotiable
Office
3rd
5,402 SF
$19.00 - $20.00/SF/Yr
Vacant
Negotiable
Office
4th
3,671 SF
$22.50/SF/Yr
Vacant
Negotiable
Office
Near the Hilton Hotel, and easy access to Routes 29,175 and I-95.

Sale Notes:
Starting Bid $1,500,000
Participation Deposit $25,000

Auction Starts11/14/2016
Auction Ends11/16/2016

Investment Overview:
5457 Twin Knolls Road (“Twin Knolls”) is a 70,456 sf Class A office building that is currently 82% leased to a stellar roster of creditworthy tenants including Wal-Mart, Cenveo Corporation, and Seasons Hospice & Palliative Care. 2016 was an exceptional leasing year, whereby a new major lease with Seasons Hospice & Palliative Care (16,148 sf; LXD 6/30/2022) was signed, Ingram Firm (2,469 sf; LXD 1/31/2022) nearly doubled in size, and Wal-Mart (6,044 sf; LXD 4/30/2022) extended.

Twin Knolls is conveniently located in the heart of Columbia, MD, a James W. Rouse developed planned community consistently ranked in CNN’s Top Ten Places to live. Immediately adjacent to the property is a recently renovated 152-room Doubltree by Hilton with a full service conferencing facility, restaurant and bar. A four-way interchange within 0.25 miles of Twin Knolls provides access to I-29 and I-175. Within one mile is Columbia Town Center which features numerous shops, restaurants, entertainment options, and nearly 1,00 units of Class A multifamily rental product. With the Columbia Master Plan in full swing, this live-work-play environment will be further improved with up to 5,500 new residential units, 1.25 million sf of retail space, 640 hotel rooms and the development of a multi-modal transportation system. Immediate upside can be realized through the lease-up of approximately 12,500 sf of upper level vacancy.

Investment Highlights:
o Four-story 70,456 sf Class A office building featuring a modern granite lobby, refinished common areas, and several tenant-exclusive rooftop decks
o 82% leased with immediate upside realized through lease-up of approximately 12,500 sf of upper level vacancy
o Diverse tenant mix including multi-national corporations, regional healthcare companies, and local legal and financial services firms
o Property has been historically maintained at an institutional level including nearly $600K in recent capital improvements
o Located within one mile of Columbia Town Center which features over 200 shops, restaurants, entertainment options, and nearly 1,000 units of existing Class A multifamily rental product
o Access is provided within 0.25 miles of Twin Knolls by a four-way interchange between I-29 and I-175
o Immediately adjacent to the property is a recently renovated 152-room Doubltree by Hilton with a full service conferencing facility, restaurant and bar
o With the Columbia Master Plan in full swing, this live-work-play environment will be further improved with up to 5,500 new residential units, 1.25 million sf of retail space, 640 hotel rooms and the development of a multi-modal transportation system
o Above-market, abundant 3.7/1,000 SF parking ratio



Lincoln Property Company
Brent Prossner
(301) 961-3079

Merrill C Turnbull
(301) 961-9256



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