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 team has closed nearly $400 million in industrial volume. Carpenter along with Senior Director Graham Savage, also of Cushman & Wakefield’s Baltimore Capital Markets team, represented the seller in the transaction.