Amazon has taken ownership of a roughly nine-acre parcel and the office building at 11550 Cronridge Drive in Owings Mills, buying the property from asset manager T. Rowe Price in a sale-leaseback deal. The structure of the transaction keeps the site linked to T. Rowe Price’s broader Owings Mills operations while shifting the underlying real estate to the e-commerce giant. Neither company has shared any details about what Amazon intends to do with the property.
Deal confirmed by CoStar
According to CoStar, the property changed hands on Friday in a sale-leaseback that identifies Amazon as the buyer. CoStar reports that Amazon has not announced plans for the site and that the transaction covers a parcel next to T. Rowe Price’s existing workplace footprint in Owings Mills.
Property by the numbers
Public commercial listings and tax records show that the parcel spans about 9.32 acres and the office building totals roughly 111,122 square feet, in the Reisterstown Road submarket of Owings…..