Cushman & Wakefield Completes Sale of Two Last-Mile Warehouses in the Baltimore-Washington Corridor

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 [...]

By | 2018-08-10T14:05:12+00:00 August 10th, 2018|Press Release|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

Madison Marquette Awards Cushman & Wakefield Exclusive Leasing of One Light Street

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 [...]

By | 2018-04-05T14:24:17+00:00 November 10th, 2017|Press Release|0 Comments

Cushman & Wakefield Completes Sale of SunTrust Tower in Baltimore’s Central Business District

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.

By | 2018-04-05T14:24:19+00:00 October 30th, 2017|Press Release|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

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, 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 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

Apex, LLC Acquires Distribution Warehouse in Baltimore

Former Mrs. Filbert’s Margarine Processing Plant Sold for $3.5M BALTIMORE – Cushman & Wakefield announced that it has arranged the sale of 3701 Southwestern Blvd., a 160,782-square-foot distribution warehouse on 6.7 acres in Baltimore. Apex, LLC acquired the warehouse from 3701 Realty, LLC for $3.5 million. Apex, LLC is a partnership formed by Shaw Real Estate and Mukul Mehta, owner of The Mayflower Companies. Apex, LLC was represented by Michael Elardo, Senior Director at Cushman & Wakefield. The seller was represented by Robert Oare, Jared Ross, Jarred Testa and Tilghman Herring, also of Cushman & Wakefield. “Shaw Real Estate, LLC was attracted to the property due to its location, large power and utility feeders and infrastructure,” said Mr. Elardo. “They are planning a major redevelopment of the property to include the addition of dock and drive-in doors, raising the roof in sections, a new tenant entry and complete refurbishment of [...]

By | 2016-09-16T13:07:26+00:00 September 16th, 2016|In the News, Press Release|0 Comments

Cushman & Wakefield Represents ClearView Group in Headquarters Relocation

Accounting Firm Inks 17,531 SF Lease in Owings Mills, MD  BALTIMORE – Cushman & Wakefield announced that ClearView Group has signed a 17,531-square-foot lease and is relocating its headquarters from Hunt Valley, MD, to 11155 Red Run Boulevard in Owings Mills, MD. ClearView Group is a Maryland-based CPA and management consulting firm. 11155 Red Run Boulevard, owned by DFLA LLC, is a 120,327-square-foot, Class A office building formerly occupied by Legg Mason. Andy McIlvaine and Matthew Seward of Cushman & Wakefield represented ClearView Group in the transaction. “We couldn’t be more excited about the fresh and dynamic space we are creating in Owings Mills,” said Brian Davis, Managing Director and CEO of ClearView Group. “With our growth plans, there really weren’t a lot of options that would allow us to expand in the same building. The combination of location, floor plates, and amenities really gives us a great foundation for [...]

By | 2016-08-22T10:56:32+00:00 August 22nd, 2016|In the News, Press Release|0 Comments