Michael Corso Joins Cushman & Wakefield to Lead Industrial Asset Services in the Mid-Atlantic

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 [...]

By | 2018-07-26T14:55:47+00:00 July 26th, 2018|In the News|0 Comments

CRE Insights & Trends: Stodgy Office Towers, Millennial Makeovers

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, [...]

By | 2018-04-09T15:52:20+00:00 March 13th, 2018|In the News|0 Comments

Cushman & Wakefield completes lease at newly-constructed industrial building in Harmans, MD

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 [...]

By | 2018-04-05T14:24:15+00:00 February 20th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Completes Sale of Three-Building Industrial Portfolio on Behalf of Terreno Realty

Goldman Sachs Buys 446,595 SF Industrial Portfolio for $40,500,000 Cushman & Wakefield announced that it closed the $40.5 million sale of a three-building industrial portfolio in Elkridge & Savage, Maryland. The 100% leased portfolio included a total of 12 tenants largely serving the consumer population of the Washington, DC – Baltimore, MD Corridor. The properties included: 8730 Bollman Place, Savage, MD 6660 Santa Barbara Road, Elkridge, MD 6675 Amberton Drive, Elkridge MD Goldman Sachs was the buyer of the portfolio, paying $40,500,000, or nearly $91 per square foot. The transaction was the third major industrial portfolio Cushman & Wakefield closed on in the last month, bringing the total execution for the 30-day period to nearly 4 million square feet and $310 million in closed transactions. “Institutional investors largely remain underweight the industrial sector, and the Baltimore-Washington Corridor remains a core market,” said Jonathan Carpenter, Executive Managing Director at Cushman & [...]

By | 2018-04-05T14:24:21+00:00 August 21st, 2017|In the News|0 Comments

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 [...]

By | 2018-04-05T14:24:22+00:00 August 7th, 2017|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges the Sale of Baltimore/ Washington Corridor Industrial Portfolio

Goldman Sachs Acquires Four Industrial Buildings Totaling 650,000 Square Feet for $66.7 Million BALTIMORE - Cushman & Wakefield announced that it has closed the sale of the industrial portfolio on behalf of Exeter Property Group. The buildings, 96% leased at the time of the sale, include: 7587 Montevideo Road, Jessup, MD 7591 Montevideo Road, Jessup, MD 7595 Montevideo Road, Jessup, MD 7100 Old Landover Road, Landover, MD “This represents the second largest industrial portfolio transaction we have arranged in the past week. Investor demand for infill last-mile warehouse in the Baltimore/Washington, DC region remains white hot,” said Jonathan Carpenter, Executive Managing Director at Cushman & Wakefield. “These properties are strategically located in the market to service the growing consumer populations of Baltimore and Washington, DC.” Graham Savage, Director, also represented the client. Both he and Jon Carpenter reside in the Baltimore office of Cushman & Wakefield. Jonathan Carpenter +1 410 [...]

By | 2018-04-05T14:24:28+00:00 August 3rd, 2017|In the News|0 Comments

Legg Mason Tower Achieves 100% Occupancy

Johns Hopkins Carey Business School Expands to 145,000 Square Feet BALTIMORE – Cushman & Wakefield and Harbor East Management Group announced that Johns Hopkins Carey Business School has expanded its footprint at Legg Mason Tower by 39,000 square feet. Now occupying 145,000 square feet, the Johns Hopkins Carey Business School sublet an additional floor from Legg Mason as well as the last remaining full floor of direct space from Harbor East Management Group. This expansion brings the Legg Mason Tower to 100% occupancy. Bruce Matthai and David Gillece of Cushman & Wakefield represented Johns Hopkins Carey Business School in the transaction. Legg Mason was represented by Cushman & Wakefield brokers Matthew Seward, Douglas Brinkley and Lizzy Sweeney, while Harbor East Management Group was represented by Brian Wyatt, also of Cushman & Wakefield. “The Legg Mason Tower presents an iconic image along Baltimore’s skyline and stands as a testament to our [...]

By | 2018-04-05T14:24:29+00:00 December 7th, 2016|In the News, Press Release|0 Comments

Cushman & Wakefield Represents B. Von Paris & Sons, Inc.in 75,000 SF Sublease

BALTIMORE – Cushman & Wakefield announced that TLR, LLC subleased 75,000 square feet from B. Von Paris & Sons, Inc. at 8750 Larkin Road in Savage, Maryland. 8750 Larkin Road is a 148,483-square-foot warehouse owned by Prologis. Robert Oare and Jared Ross of Cushman & Wakefield represented B. Von Paris & Sons, Inc. in the transaction. “This transaction was attractive to our client due to the immediate sublease start date, the subtenant, TLR,LLC needs no tenant improvements and is warehousing household goods/clothing for Goodwill of Greater Washington.” Rebecca Murphy +1 410 347 7814

By | 2018-04-05T14:24:32+00:00 December 7th, 2016|In the News, Press Release|0 Comments

Cushman & Wakefield Capital Markets Arranges Sale and Financing of Station Ridge in the Baltimore Washington Corridor

LEED Gold, Transit Oriented Suburban Office Portfolio in the BWI Submarket Sold for $57.5M BALTIMORE – Cushman & Wakefield announced today that it has arranged the sale of Station Ridge. The three-building, 265,354-square-foot Class A office portfolio is located at 7031-7037 Ridge Road in Hanover, MD. Boston-based Tritower Financial Group acquired the portfolio for $57.5 million, or $217 per square foot. The seller, an institutional owner of real estate, was represented by the Cushman & Wakefield Baltimore Capital Markets team of Jonathan Carpenter, Nicole Keelty and Graham Savage. “This transaction proves there is a vibrant market for well-positioned and modernized suburban office assets in the Baltimore Washington region,” said Mr. Carpenter, Executive Managing Director of Cushman & Wakefield. “The transit-oriented location and LEED certification, combined with strong tenant credit and lease term, drove strong interest in the property and will provide the new owner with secure cash flow and additional [...]

By | 2016-09-16T13:23:07+00:00 September 16th, 2016|In the News|0 Comments

Cushman & Wakefield Capital Markets Arranges Sale of 6610 Cabot Drive in the Baltimore Washington Corridor

BALTIMORE – Cushman & Wakefield announced that it has arranged the sale of 6610 Cabot Drive, a 199,249-square-foot, Class A bulk warehouse located in Baltimore and home to lead tenant W.R. Grace & Company. Industrial Property Trust acquired the warehouse from Highbrook Investment Management for more than $17.5 million, or $87.95 per square foot. The seller was represented by the Cushman & Wakefield Baltimore Capital Markets team of Jonathan Carpenter, Nicole Keelty, and Graham Savage. “The long-term lease with a strong credit tenant drove interest in the deal, as institutional investors continue to pursue core, low-risk cash flow opportunities,” said Carpenter. “Interest levels remain extremely high for well-located and functional industrial buildings in the Baltimore Washington Corridor.” Rebecca Murphy +1 410.347.7814

By | 2016-09-16T13:16:39+00:00 September 16th, 2016|In the News, Press Release|0 Comments