Towson Commons Sells Portion For $10.3M: Report

Towson MD

26 April, 2022

12:33 PM

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TOWSON, MD — Space in a prominent building on Pennsylvania Avenue was reportedly sold to an out-of-state investor. The unnamed New York buyer purchased a 48,000-square-foot part of Towson Commons except for the retail, office and parking spaces, according to the Baltimore Business Journal. LA Fitness will stay open at the space, which sold for $10.375 million, the newspaper reported. The gym is on the third level of the mixed-use complex. In 2014, LA Fitness opened in a 54,000-square-foot spot where AMC Theater had been until 2011. Other tenants in the development include Chipotle, Brown Rice, CVS Pharmacy, Insomnia Cookies and more. In sum, Towson Commons contains 115,000 square feet of retail space, connected to 231,000 square feet of office space, according to commercial real estate firm Maryland Financial Investors Realty. Towson Hillel recently moved into the lower level, near Stumpy's Hatchet House, so it could house large gatherings and a kosher kitchen, Jmore reported. The real estate transaction is the latest around the center, which has had multiple owners in the past 30 years.Towson Commons opened in 1992. In 2018, CSG Partners purchased the 10-story office building and garage for $18 million. In 2015, MFI Realty and Woodmont Properties II purchased Towson Commons Retail LLC. Then-county executive Kevin Kamenetz said it was the first time the shopping center was under local control. See Also: Towson Commons Ownership ChangesTowson Commons Office Space Goes For $18M: ReportTowson Commons Sold For $28.5 Million In 2010