Coakley Realty Facilitates Sale of the Iconic Town Hall in College Park, MD
The recent sale of the Town Hall commercial property and landmark follows a number of successful area sales, also driven by a Hoya-Terp collaboration.
ROCKVILLE, MD — July 12, 2016 – Rory S. Coakley Realty, Inc. (Coakley Realty), a premier full service residential and commercial real estate company in the Washington D.C. Metro area since 1989, announces that Rory S. Coakley has facilitated the sale of the landmark property known as “Town Hall” located at 8135 Baltimore Ave. in College Park, MD. The historic property has been a College Park institution and landmark since 1949.
Town Hall, a bar and liquor store, opened in 1949 and was last sold in 1959 to Joseph Burdoo. Mr. Burdoo’s son, Ron, remembers working there since the age of 12 when his father purchased the property, and took over the business when his father retired. Ron describes the property as a “typical roadhouse/tavern” with pool tables and an attached liquor store. The clientele is mostly local adult professionals, some college professors, University of Maryland alumni, and limited college students. Ron recently made the decision to sell the property upon his retirement to North Carolina.
“We are particularly proud of the way this transaction was conducted,” stated Rory Coakley, President of Coakley Realty. “The owner wanted to retire but was also passionate about keeping the historic property operating and maintaining its landmark status. We were able to find a buyer interested in doing just that, while also excited to improve the property going forward.”
The new owner of the property, Mrs. Ashuta Tandon, was assisted by consultant Jim McGinnis. Mrs. Tandon intends to keep the business going in its current capacity, and while appeal more to the college student crowd without alienating the traditional clientele. To accomplish this, Mrs. Tandon also intends to make significant upgrades including:
- Changing the exterior image of the building, possibly to match University of Maryland colors;
- Installing a new lighted sign;
- Updating the interior seating and general décor, and adding more TVs for viewing sporting events;
- Expanding the craft beer menu; and
- Upgrading the interior.
Rory Coakley (a graduate of Georgetown University) and Jim McGinnis (a graduate of the University of Maryland) are particularly proud of their cooperative efforts in completing this sale. As their two alma maters are significant local rivals, they feel that this shows that a Hoya and a Terp can collaborate together to make a great outcome for all.
About Coakley Realty
Founded in 1989, Coakley Realty is a premier full service residential and commercial real estate company in the Washington D.C. metropolitan area specializing in residential and commercial real estate sales and leasing, property management, tax appeals, appraisals and litigation support. Coakley Realty’s staff of experienced and knowledgeable real estate consultants offers home buyers, home sellers and business owners the best in real estate services and higher levels of expertise in analysis and negotiating skills. For more information, please visit www.coakleyrealty.com or follow us on Twitter @coakleyrealty or www.twitter.com/coakleyrealty and on Facebook at www.facebook.com/coakleyrealty.
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