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Hogan Companies Sell Anne Arundel Commercial Land

President and CEO, Larry Hogan, announced the sale of 10.56 acres of commercial land in Gambrills, Maryland.  The project, known as Main Street at Waugh Chapel, has approvals for a 92,559 square foot retail center.  The property is located along Route 3 North at the intersection of Riedel Road directly across the street from The Village at Waugh Chapel and Waugh Chapel Towne Center.   
 
“This transaction is an indicator that previously stalled projects are finally having their various issues resolved and can begin to move forward in the development process again,” says Larry Hogan.  “We expect to see a lot of positive momentum like this throughout the region in 2013, and we are optimistic that the real estate market is beginning to dig itself out of the hole it has been in for over 5 years.”
 
The purchaser of Main Street at Waugh Chapel, Parole Bestgate, LLC, paid $3,300,000.00 or $35.65 per FAR foot for the land.  Victor White and David Weiss of the Hogan Companies were the exclusive listing brokers for the seller, Servco, Inc. d/b/a/ Elizabeth Holdings, Inc. 
 
Headquartered in Annapolis, The Hogan Companies is the leading land firm in Maryland and has been involved in the sale of more than 50,000 acres of commercial, residential, industrial, agricultural, and mixed use land throughout the Mid-Atlantic region.
 


CONTACT:
Victor White
Hogan Companies
2661 Riva Road
Annapolis, MD 21401
410.266.5100
 


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