Laurel, MD – February 6, 2024 – Ganges Laurel LLC has completed the acquisition of the property at 9705 Washington Blvd N, Laurel, MD 20723 from Olive Enterprises, LLC, in a transaction facilitated by Hyatt Commercial. Finalized on January 26, 2024, for a purchase price of $3,000,000, equating to $237.64 per square foot, this transaction highlights the strength of the Baltimore-Washington Corridor’s real estate market. Significantly surpassing the regional average sale price for comparable properties, which CoStar reports as $164 per square foot, this deal is a testament to the resilience and attractiveness of well-located real estate in the area.
The site, previously occupied by High Roads Academy and delivered vacant, is earmarked for an exciting new phase. Ganges Laurel LLC, part of the Virginia-based Ganges Property Group, intends to develop the property for “The Learning Experience”, a leading childcare and early education franchise known for its rapid growth across the United States. This development is poised to make a significant impact on the local community by providing high-quality educational services and demonstrates the strategic importance of the property.
Marty Youmans of Olive Enterprises, LLC, praised the transaction, saying, “the work they did to gather necessary information to keep the transaction alive when it was on the fence, was some of the finest work I have seen.”
The successful completion of this deal was facilitated by Cecil Cummins and Eric Pinkett, agents from Hyatt Commercial, whose expertise and dedication played a pivotal role in bringing this transaction to fruition.
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