6685 Santa Barbara Court sells for $13.3M and 8250 Preston Court sells for $12.2M in separate transactions
BALTIMORE, April 16, 2019 – Cushman & Wakefield completed the sale of two industrial properties on April 1 in separate transactions totaling over $25 million. Jonathan Carpenter, Executive Managing Director, and Graham Savage, Senior Director of Cushman & Wakefield’s Capital Markets team in Baltimore represented the sellers in the sale of 6685 Santa Barbara Court in Jessup for $13,250,000 and 8250 Preston Court in Elkridge for $12,220,000.
“Both projects are located along I-95 in the Baltimore-Washington corridor, one of the premier industrial markets in the country.” said Savage. “The industrial market in the region is firing on all cylinders and attracting investment interest from all over the world.”
High Street Real Estate sold 6685 Santa Barbara Court, a fully-leased 167,490 square foot warehouse, to STAG Industrial for roughly $80 per square foot.
Capital Partners sold 8250 Preston Court to TA Realty for $121 per square foot. The 101,297-square foot warehouse is 85% leased to four tenants. TA Realty has hired Cushman & Wakefield’s industrial leasing team to fill the remaining 16,766 square foot vacancy.