JLL closes $9.2M sale of 25 Loveton Circle in Sparks, MD
52,535 SF office/flex property located in the Hunt Valley Corridor of Maryland
BALTIMORE, January 8, 2020 – JLL Capital Markets announced today that it has closed the $9.2 million sale of 25 Loveton Circle in Sparks, Maryland, a 52,535-square-foot flex building that serves as the headquarters for Fidelity Building Services Group, a 75-year old integrated building services engineering firm with 22 locations in nine states throughout the Mid-Atlantic and Gulf Coast.
JLL represented the seller, Fidelity Building Services Group, and procured the buyer.
25 Loveton Circle was long term leased to Fidelity Building Services on an absolute net basis. The single-story property features 80% office and 20% warehouse space, including an 1,800-square-foot auto shop to service the company’s fleet of service vans. Positioned on 5.39 acres within the Loveton Business Park, the asset is located in the I-83 Corridor submarket, approximately 21 miles north of Baltimore City. This location is proximate to several major highways connecting the property to the entire Baltimore Metro and Pennsylvania, including Interstates 83 and 95 and the Baltimore Beltway. Light Rail Service is available at the nearby Hunt Valley Towne Center, a 900,000-square-foot “main street” retail center. Additionally, 25 Loveton Circle is surrounding by numerous shopping centers, restaurants and major corporations.
JLL’s Capital Markets team representing the seller was led by Managing Director Jay Wellschlager and Vice President Andrew Finkelstein, along with support from JLL’s Net Lease team led by Senior Vice Presidents Tivon Moffitt and Peter Bauman.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fidelity Building Services Group
Fidelity Building Services Group was founded in 1945 as a full-service Mechanical Engineering, Contracting and Service company that introduced air conditioning, refrigeration and process cooling to a new and exciting marketplace. The advent of air conditioning went on to revolutionize the entire building industry and Fidelity has been on the leading edge ever since. Today, its geographic footprint has grown beyond the Mid-Atlantic, extending South through Texas. With over 1,000 employees, 75 years of experience, and an intense focus on delivering Proactive, World-Class Service, Fidelity is established as a premier provider of high-performance building solutions.