Major Industrial Owner Sells Properties to High Street Realty Company for $23.85M BALTIMORE, August 9, 2018 – Cushman & Wakefield announced today the completed sale of 8779 Greenwood Place in Savage, MD, and 9050 Junction Drive in Annapolis Junction, MD. Situated just off Interstate 95, the 250,000-square-foot industrial portfolio is located in Corridor Industrial Park and Junction Business Park, two of the most well-established industrial parks in the Baltimore-Washington Corridor. A major industrial owner sold the buildings to High Street Realty Company for $23.85 Million, or $95 per square foot. “This sale was an extremely competitive process, and underscores the Baltimore-Washington region as a premium market for institutional investors interested in increasing their position in functional industrial properties that service the third-wealthiest consumer market in the country,” said Jonathan M. Carpenter, Executive Managing Director of Cushman & Wakefield’s Baltimore Capital Markets team. In the past 12 months, Carpenter and his [...]
Michael J. Corso, Managing Director, Industrial Asset Services Leader, Mid-Atlantic Baltimore-based, Industrial Asset Services Leader Joins the Firm as Managing Director Cushman & Wakefield is pleased to announce that Michael Corso has joined the firm as Managing Director to lead its Industrial Asset Services teams in the Mid-Atlantic. Corso has over 10 years of experience in commercial real estate and is regarded as an industry leader in the Industrial asset services sector. He will be based in Cushman & Wakefield’s Baltimore office. “Michael is an excellent addition to Cushman & Wakefield,” said Roberta Liss, Regional Managing Principal, Northeast and Mid-Atlantic Regions. “He will further integrate our strong Capital Markets, Agency Leasing and Asset Services teams in Philadelphia and Baltimore, driving our Investor Services platform forward.” Corso joins Cushman & Wakefield from JLL, where he was responsible for overseeing management services for JLL’s Mid-Atlantic industrial portfolio. His work included [...]
Photographer: Adam Glanzman/Bloomberg Written By Matthew Myers, Strategic Advisory Services An article I recently read in Bloomberg Businessweek highlighted an interesting dynamic happening in the office sector. Vintage office towers, the kind that have seen few remarkable alterations in recent decades, the kind that have been around since office towers first started being built, are catching up with the tidal wave of change that has accompanied the Millennial generation. There are three primary components to these makeovers: Connecting with the Talent: Amenities, particularly in urban areas, must be carefully considered. They can help you win the talent war. Space Design: How does your space reflect your company’s culture? Some large firms have found that efficiencies can be developed through focused client-facing space and collaborative team space. This may work for some, but the optimal design is individual to each different firm. The specific towers mentioned are all in high-priced urban markets, [...]
Principal Real Estate Investors and Trammell Crow Company welcomes Paragon Bioservices to 7555 Harmans Road BALTIMORE, February 20, 2018 – Cushman & Wakefield announced the completed lease of the newly-constructed, Class-A industrial building at 7555 Harmans Road in Harmans, MD on December 20, 2017. The 151,000-square-foot warehouse was leased to Paragon Bioservices, a leading Baltimore-based biopharmaceutical company and one of the fastest growing companies in the region. This transaction marked the largest new industrial lease in the Baltimore-Washington Corridor in 2017. “We are thrilled to welcome Paragon Bioservices to our newly delivered, Class-A project at Harmans Road,” said Jarred Testa, Senior Director with Cushman & Wakefield. “Our state-of-the-art project was the ideal location for Paragon to expand and perform cutting-edge biotech operations. We are delighted to bring such a sought-after employer into Anne Arundel County to anchor our project.” Jarred Testa, John Boote and John Wilhide of Cushman & Wakefield’s Baltimore [...]
Construction Underway for the 234,800-SF, Class A Office Building in Baltimore’s CBD BALTIMORE, November 10, 2017 – Cushman & Wakefield announced today that it was awarded the title of Exclusive Listing Agency for One Light Street by developer Madison Marquette. Madison Marquette assigned the Cushman & Wakefield team of Managing Director L. Bruce Matthai, Director Bronwyn LeGette and Director Matt Melnick the listing with 81,000-square-feet (sf) of Class-A office remaining at One Light Street after M&T Bank signed a lease for 155,000 (sf) to house its new Mid-Atlantic Headquarters. The building is currently under construction for 2018 delivery with nine floors of modern, virtually column-free office space designed to achieve the LEED Silver designation for New Construction. Sheathed in a dramatic glass curtain wall at the premier downtown intersection of Light Street and Baltimore Street, the 28-story, mixed-use tower will boast 280 luxury residential apartments, ground-level retail and nine levels [...]
Boston-based Grander Capital Partners Purchases 25-Story, 327,000-square-foot Office Tower for $32.8 Million BALTIMORE, October 30, 2017 – Cushman & Wakefield announced that it closed the $32.8 million sale of 120 E. Baltimore St. on Friday, October 20, 2017. The 25-story, Class A office tower was 75% leased at the time of sale with high-profile anchor tenants such as SunTrust Bank, State of Maryland Pension System and Baltimore City State Attorney’s Office. Grander Capital Partners, a Boston-based commercial real estate investment management services company, was the buyer of the building. “The sale is indicative of the increased confidence that investors are showing in the Downtown Baltimore office market,” said Jonathan Carpenter, Executive Director at Cushman & Wakefield. “This is the fourth major office tower investment sale in 2017, with several more transactions in process.” Graham Savage, Director and Nicole Keelty, Senior Director also represented the client in the transaction.
Sparrows Point Property Acquired by Transportation Company for $2.7M November 17, 2015 - BALTIMORE - Cushman & Wakefield, a global leader in commercial real estate services, announced that it has arranged the sale of 8911 Bethlehem Boulevard, a 136,000 square foot warehouse and distribution facility on 8.9 acres in Sparrows Point, Maryland. Fraley & Schilling Inc., an asset based transportation company headquartered in Rushville, Indiana, purchased the property for $2,737,500. Fraley & Schilling will utilize the building for warehouse and distribution thru their subsidiary Universal Trade Solutions. They operate multiple facilities throughout the United States and the 8911 Bethlehem Boulevard acquisition will allow them to double their existing foot print in the Baltimore market. 8911 Bethlehem Blvd. was purchased from Dietrich Metals, a division of Worthington Industries in Columbus Ohio. Craig Lewis, Rick Latini and Mike Hurd of Cushman & Wakefield were the only brokers involved in this transaction. “8911 Bethlehem [...]