20-Building, 2.8 Million Square Foot Mid-Atlantic Industrial Portfolio Sold
The $201,000,000 sale is the largest industrial transaction in Baltimore in more than a decade
6930 San Tomas Road
BALTIMORE – Cushman & Wakefield announced today that it recently closed the sale of a major Mid-Atlantic industrial portfolio on behalf of its client, TA Realty. The buyer was international private equity investor, Colony Northstar. The majority of the portfolio, 2.4 million square feet, is concentrated in the greater Baltimore metropolitan area with the remaining 400,000 square feet located in Philadelphia and Delaware.
Cushman & Wakefield has been involved with the project since its inception, having assisted with individual building acquisitions, leasing and property management. At the time of the final sale, the portfolio was 94 percent leased to 64 tenants. Upon closing, Cushman & Wakefield has been awarded the property management assignment for all 20 facilities.
9060 Annapolis Junction
“The scale of this portfolio sale, along with other activity in the market this year, reinforces that the Baltimore-Washington region is very attractive to real estate investors focused on consumer driven infill industrial opportunities, “ said Jonathan Carpenter, Executive Director, Cushman & Wakefield. “Market dynamics — access to I-95 and the large consumer base — continue to drive tenants toward the region. We are very proud to have represented TA Realty from purchase point to lease-up and asset management to a successful disposition. Being closely involved with these buildings and their marketability through a full-solutions approach was a key to executing a successful sale process.”
Involved in the portfolio sale were a team of Cushman & Wakefield professionals led by Investment Sales Brokers Jonathan Carpenter and Graham Savage, including Andrew Stanford, Laura Smith, Jarred Testa and Tilghman Herring of the Baltimore office and Bob Yoshimura and Joe Hill of the Philadelphia office.