2510 Riva Road
Annapolis, Maryland
GHP Office Realty
One West Red Oak Lane
White Plains, New York 10604
Phone: 914.642.9300
Fax: 914.642.9301
ghpoffice.com
2510 RIVA ROAD, ANNAPOLIS, MD 21401
2510 Riva Road is located 25 miles from both Baltimore and Washington DC in the Parole
area of Annapolis, Maryland. The Property is strategically situated less than a half mile from
Exit 23 off Route 50, which extends west to Washington DC and is only one mile from I-97,
which travels north to Baltimore. 2510 Riva Road has exceptional visibility route 50 and is
positioned directly along a well-developed commercial corridor that provides easy local
access to I-301 and Routes 450 and 665.
2510 Riva Road is part of the Parole Growth Management Area (PGMA) that has the largest
concentration of office and retail space in Anne Arundel County. The Property is also located
adjacent to the Annapolis Town Center (“ATC”) project, which is a $400 million, 1.8 million
SF mixed use development currently under construction. The Property and surrounding area
are expected to benefit greatly from this substantial upgrade to the immediate neighborhood.
At $28.00 PSF, the Annapolis submarket demands the highest average asking rent and has
the second lowest availability (4.35%) of all submarkets in the Baltimore Metropolitan Area.
Due to limited supply, excellent accessibility, and a growing and diverse tenant base, the
Annapolis market is forecasted to continue to experience growth as a leading submarket in
greater Baltimore.
The Property is currently owner-occupied by Verizon Washington, DC Inc., who will leaseback
the entire building for 3 years.
INVESTMENT SUMMARY
Total Square Feet…………………….………………………………………….72,382± SF
# of Stories …………………………….……………………………………………………. 6
Typical Floor plate ……………………..…….………………………………… 11,760± SF
Acreage ……………………………………………………………………………….. 3.73±
Year completed ………………………………………………………………………. 1975
Expected occupancy upon sale ……….………………………………………… 100%
Lease Term.………………………………….…………………………….. ……….. 3 years
Parking Ratio…………………………………..……………… Approximately2/1,000 SF
ADDRESS
251 RIVA ROAD, ANNAPOLIS, MD 21401
LEASEBACK TERMS AND CONDITIONS – 2510 RIVA ROAD
LEASEBACK TERMS AND CONDITIONS – 2510 RIVA ROAD
Address
Jurisdiction and Taxes
2510 RIVA ROAD, ANNAPOLIS, MD 21401
The property is located in and subject to the taxing jurisdictions of Anne Arundel County and
the State of Maryland.
Location
The Subject property is across the street from Annapolis Town Center, a highly anticipated
8MM SF multi-use real estate development and is approximately .25 mile from highway
665, 301, and 50.
Site Layout
Site is a regular shaped rectangle consisting of 3.73 acres
Year Built
Rentable Area
1st Floor
2nd - 6th Floor
Total SF
Acres
Parking
# of Spaces
Ratio per RBA
Site Size
Description/Shape
Frontage
Utilities/Services
Utility/Service
Electricity
Gas
Water
Sewer
Telephone
1975
13,582± SF
11,760± SF
72,382± SF
3.73±
140
2/1,000
Rectangular
307.7 + feet along Riva Road and
575.5 + feet along Holiday Court
Provider
Baltimore Gas and Electric
N/A
City if Annapolis
City of Annapolis
Verizon
2006 Annual Tax Estimate: $99,000*
*Property is not currently assessed due to public utility occupancy.
Parcel ID: 200011685460
Permitted Use: Zoned TC, Town Center District-Intended to permit mixed-use
Development and includes any use permitted in a C-3 district or any multiFamily use in permitted in an R-15 or R-22 district. Typical uses would include
Adult day care centers, automobile and truck parts, supply stores and tire
Stores, business complexes, car washes, child care centers, commercial
Telecommunications facilities, conference centers, department stores, singlefamily detached, multi-family, duplex or semi-detached residential.
Building and Description
Structural System
Roof
Windows
Concrete block and steel frame
Rubber membrane roof cover on a metal
Deck on steel supports
Single pane glass in aluminum frames
Throughout
Systems
HVAC (Heating & Cooling)
Elevators
Power
Life Safety/Sprinklers
Electric baseboard heat; two roof mounted
air handler units; two chillers provide
cooling; one replaced 4 to 5 years ago
and the other 16 years ago.
2 elevators 1st to 6th Floor
Kohler generator, 225 KW using diesel fuel,
UPS and BGE commercial power.
Fire alarm system, sprinkler system,
Ionization, photo and thermal detectors,
pull station and alarming audible system
AERIAL
MARKET HIGHLIGHTS
2510 Riva Road is located in the Annapolis submarket of the suburban
Baltimore office market.
The suburban Baltimore office market has a total of 36,392,715 SF.
After 1,209,174 SF has absorbed during the first three quarters of
2006, the availability rate decreased by 3.3% to 9.34%. This dynamic
market is strong and expanding as evidenced by the 2.4 million SF of
development currently under construction, the highest level of new
construction in the last four years.
The Annapolis office market containing 1,978,951 SF has availability of
4.35% (the second lowest of Metropolitan Baltimore’s 18 submarkets)
and average asking rent of $28.00 PSF (the highest in Metropolitan
Baltimore).
2510 Riva Road is located in what is perhaps the preeminent submarket
in all of Metropolitan Baltimore. With strong confidence in suburban
Baltimore evidenced by the high level of new development currently
under construction, the Property is located in a thriving commercial
office environment predicted to continue its history of exemplary
performance
We Own. We Manage. We Lease.
FLOOR PLANS
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