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.”