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roadmead, Inc. has acquired a 221,000 square foot commercial office portfolio on Ridgebrook Road in Sparks, Baltimore County, as part of its long-term strategy to convert the space into 80 independent living residences and amenities. The expansion is pending approval from the Maryland Department of Aging and will complement Broadmead's existing campus in Cockeysville.

    The acquisition includes three mid-rise buildings on approximately 60 acres of land, currently less than 5% leased to commercial office tenants. Upon final approvals, Broadmead plans to convert the interconnected buildings into independent living residences, wellness spaces, dining venues, and outdoor amenities, improving common areas along the way.

    "This growing need for senior and independent living options is driven by the 'Silver Tsunami' of baby boomers seeking housing and medical support," said Tom Fidler, Executive Vice President and Principal of MacKenzie Commercial Real Estate Services. "Broadmead has perfected a proven model, but competition remains fierce and demand outpaces supply."

    Fidler noted that Broadmead searched for land or existing building assets to fulfill its mission, and MacKenzie identified the Ridgebrook Road campus due to its proximity to the current facility. After an extensive due diligence process, the site was deemed suitable for Broadmead's commitment to sustainability.

    The property's zoning needed to be revised from M1 (light industrial) to residential, which was achieved last November when the Baltimore County Council unanimously voted in support of the change. MacKenzie Management Company has been selected to handle asset management services for the three buildings, focusing on maintaining efficient operations of the building systems.

    As the US Census Bureau projects that over 20% of the country's population will be 65 or older by 2030, Broadmead's expansion aims to meet the growing demand for senior living options.