Community Bank Adds New Branch in Baltimore County

The site was purchased in January 2021 by 1730 York Road Associates LLC for $1.2 million, according to public records.

MacKenzie Commercial Real Estate Services represented the tenant in the lease.

“Rosedale’s closest location is in south Towson, so the north York Road corridor was a natural progression for the bank,” Karen Deeley, senior vice president of MacKenzie Commercial Real Estate Services, told Commercial Observer.  

The primary structure was built in 1970 as a bank branch, according to the State Department of Taxation and Assessments for Baltimore. It was consistently used as a bank branch through the years until it was vacated by Wells Fargo five years ago.

“Our community-oriented approach to banking has been embraced by personal and business customers alike, and securing a site in the York Road corridor to complement our branch network has been a long-term goal,” Kevin Benson, Rosedale Federal Savings & Loans’ president and CEO, said in a prepared statement.   

The building is situated adjacent to Ridgely Plaza and the Mercy Personal Physicians at Lutherville, and features one drive-thru lane, with more than 33,000 vehicles passing the site on a daily basis, according to MacKenzie. Furthermore, approximately 185,000 people reside within a 5-mile radius with an average household income exceeding $120,000.

“Drive-thru availability is a highly sought-after feature among banks, quick-serve restaurants, pharmacies and other retail uses, and this amenity is an important component in the bank’s business model,” Deeley said. “This is a sought-after market by many retailers and businesses alike due to the high-income demographics of this market.”

Evan Albert of mfi Realty represented the landlord in the deal.

Requests for comment from the tenant and brokers were not immediately returned.

Keith Loria can be reached at Kloria@commercialobserver.com.