01 Sep 2013

Blue Ocean Realty LLC, the real estate firm that acquired the 201 N. Charles St. office tower last week, has also purchased a retail property and an office building in Baltimore County.

The properties are:

• Seoul Plaza at 6901 Security Boulevard in Windsor Mill, a 180,000-square-foot building that was formerly a free-standing JCPenney department store. The building is located at the southern entrance of Security Square Mall.
• 8211 Town Center Drive, a 70,000-square-foot former Williams Scotsman Inc.-owned office building in White Marsh near The Avenue and White Marsh Mall.

Baltimore-based Blue Ocean Realty did not disclose the individual prices for the properties, but said the total acquisition for the retail and office buildings in the county and the downtown office tower totaled $26 million. The price of 201 N. Charles St. was previously disclosed as $19.7 million; CoStar Group Inc. listed the price for the White Marsh office building at $3.4 million.

Seoul Plaza was last sold 10 years ago after JCPenney’s vacated the space, and it was marketed as an Asian-focused shopping center catering to a growing Korean population in Ellicott City. Blue Ocean President Jonathan Ehrenfeld said the firm anticipates making significant improvements to the property.

CoStar lists the White Marsh property as vacant. MacKenzie Commercial Real Estate Services LLC is marketing the building to prospective tenants.

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