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Cushman & Wakefield has been exclusively retained by the Owner to arrange the sale of 245 Shawan Road ("245 Shawan", "The Site", or "The Property"), a 6.17 acre site in Baltimore County's most desirable locale - Hunt Valley, MD.  Located at the nexus of Interstate 83 and Shawan Road, the Site is an irreplaceable location that will create exceptional access to the MSA's top employers in addition to high-quality retail and lifestyle amenities.  The Site is zoned BM-CCC which provides attractive flexibility for developers and allows for up to 400 units to be built.  As one of only three sites in Baltimore County granted BM-CCC zoning, 245 Shawan represents an incredibly rare opportunity to build new multifamily product in the submarket and is poised to capture significant renter demand as residents flee the downtown market for the suburbs.

Hunt Valley is one of the most supply constrained submarkets in the Baltimore MSA with only one competing property and zero units in the development pipeline.  The area's exceptional demographics, high barriers to home-ownership, and attractive employment base are creating pent up renter demand and will create significant acceleration in the micromarket's apartment market fundamentals moving forward.  Developers are well-positioned to take advantage of these positive trends and deliver the next trophy multifamily project in this high-profile location.

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245 Shawan Road
   
245 Shawan Road
Hunt Valley, MD  21031
Posted: 12/7/2020
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the Ridgeview Apartments (the "Property"), a 96-unit apartment community located in Blacksburg, Virginia. Blacksburg is home to Virginia Polytechnic Institute and State University, Virginia’s most comprehensive university and leading research institution which enrolls more than 36,000 undergraduate, graduate, and professional students. Direct and indirect demand from this driver has caused extremely tight apartment market conditions. Vacancy in the Blacksburg-Christiansburg metropolitan area has not exceeded 2.00% since 2013 with year-over-year rent growth of 9.7%. With most new development focusd on traditional student housing, there remains a chronic undersupply of market rate housing. The Property boasts a competitive mix of sutdio, one bedroom, two bedroom, and three bedroom units which can all support significant rent increases derived from renovations to unit interiors to match the competitive set. This value enhancing strategy will allow new owners to capture immediately available upside and generate long-term stable cash flow complemented by steady and increasing rental demand in the area.
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Ridgeview Apartments
96 Units
768 - 779 Triangle Street
Blacksburg, VA  24060
Posted: 1/13/2021
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Turnpike Townhomes (the "Property"), a pristine 100-unit apartment community built in 2008 located in Danville, Virginia. The Property is well positioned within the market to take advantage of the rapid economic growth and development driven by Caesars Entertainment Group’s commitment to spend $400 million to open a premier destination resort casino in Danville. Located along the southern border of Virginia, 70 miles south of Roanoke, Virginia, and 45 miles northeast of Greensboro, North Carolina, Danville is currently experiencing an economic resurgence which has generated sustained economic growth resulting in pre-COVID unemployment levels at an 18-year record low of 4.40%. The area is a significant hub for advanced manufacturing with major employers including both national and international companies and the home of Sovah Health, a 250-bed major regional hospital that employs over a thousand professionals. The Property is owned and managed by a private individual and the opportunity exists to introduce significant efficiencies on the income side including organic rental growth and utility expense recapture to create long term value and stable cash flow for a new investor.
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Turnpike Townhomes
100 Units
1300 Franklin Turnpike
Danville, VA  24540
Type: Conventional
Posted: 1/13/2021