Cushman & Wakefield’s Baltimore-Based Sales Team Closes Over $600M in Commercial Property Sales in 2015
BALTIMORE – Cushman & Wakefield, a global leader in commercial real estate services, announced that it has arranged the sale of two office buildings, 9690 Deereco Road and 375 West Padonia Road, both located in Timonium, Maryland. The two Class A buildings located within close proximity to the Timonium Light Rail Station total 246,046 square feet and are 100% leased. The majority of the space is occupied by technology tenants PayPal and TESSCO. Atapco Properties purchased the two buildings from Corporate Office Properties Trust (COPT) in December 2015 for $44.5 million.
COPT was represented by the Cushman & Wakefield Baltimore team of Jonathan Carpenter, Nicole Keelty, and Graham Savage. The transaction represents the team’s 14th and final investment sale of 2015, bringing the team’s total sales volume to over $630 million for the year.
“2015 was a strong year for our team and for office and industrial capital markets transaction activity in Baltimore,” commented Jonathan Carpenter. “As the regional economy improves, appetite continues to grow among institutional investors for well-located and well-positioned assets in the Baltimore region.”
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