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

Michael Corso Joins Cushman & Wakefield to Lead Industrial Asset Services in the Mid-Atlantic

Michael J. Corso, Managing Director, Industrial Asset Services Leader, Mid-Atlantic Baltimore-based, Industrial Asset Services Leader Joins the Firm as Managing Director Cushman & Wakefield is pleased to announce that Michael Corso has joined the firm as Managing Director to lead its Industrial Asset Services teams in the Mid-Atlantic. Corso has over 10 years of experience in commercial real estate and is regarded as an industry leader in the Industrial asset services sector. He will be based in Cushman & Wakefield’s Baltimore office. “Michael is an excellent addition to Cushman & Wakefield,” said Roberta Liss, Regional Managing Principal, Northeast and Mid-Atlantic Regions. “He will further integrate our strong Capital Markets, Agency Leasing and Asset Services teams in Philadelphia and Baltimore, driving our Investor Services platform forward.” Corso joins Cushman & Wakefield from JLL, where he was responsible for overseeing management services for JLL’s Mid-Atlantic industrial portfolio. His work included [...]

By | 2018-07-26T14:55:47+00:00 July 26th, 2018|In the News|0 Comments

CRE Insights & Trends: Stodgy Office Towers, Millennial Makeovers

Photographer: Adam Glanzman/Bloomberg Written By Matthew Myers, Strategic Advisory Services An article I recently read in Bloomberg Businessweek highlighted an interesting dynamic happening in the office sector. Vintage office towers, the kind that have seen few remarkable alterations in recent decades, the kind that have been around since office towers first started being built, are catching up with the tidal wave of change that has accompanied the Millennial generation. There are three primary components to these makeovers: Connecting with the Talent: Amenities, particularly in urban areas, must be carefully considered. They can help you win the talent war. Space Design: How does your space reflect your company’s culture? Some large firms have found that efficiencies can be developed through focused client-facing space and collaborative team space. This may work for some, but the optimal design is individual to each different firm. The specific towers mentioned are all in high-priced urban markets, [...]

By | 2018-04-09T15:52:20+00:00 March 13th, 2018|In the News|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

Cushman & Wakefield Completes Sale of Three-Building Industrial Portfolio on Behalf of Terreno Realty

Goldman Sachs Buys 446,595 SF Industrial Portfolio for $40,500,000 Cushman & Wakefield announced that it closed the $40.5 million sale of a three-building industrial portfolio in Elkridge & Savage, Maryland. The 100% leased portfolio included a total of 12 tenants largely serving the consumer population of the Washington, DC – Baltimore, MD Corridor. The properties included: 8730 Bollman Place, Savage, MD 6660 Santa Barbara Road, Elkridge, MD 6675 Amberton Drive, Elkridge MD Goldman Sachs was the buyer of the portfolio, paying $40,500,000, or nearly $91 per square foot. The transaction was the third major industrial portfolio Cushman & Wakefield closed on in the last month, bringing the total execution for the 30-day period to nearly 4 million square feet and $310 million in closed transactions. “Institutional investors largely remain underweight the industrial sector, and the Baltimore-Washington Corridor remains a core market,” said Jonathan Carpenter, Executive Managing Director at Cushman & [...]

By | 2018-04-05T14:24:21+00:00 August 21st, 2017|In the News|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

Cushman & Wakefield Arranges the Sale of Baltimore/ Washington Corridor Industrial Portfolio

Goldman Sachs Acquires Four Industrial Buildings Totaling 650,000 Square Feet for $66.7 Million BALTIMORE - Cushman & Wakefield announced that it has closed the sale of the industrial portfolio on behalf of Exeter Property Group. The buildings, 96% leased at the time of the sale, include: 7587 Montevideo Road, Jessup, MD 7591 Montevideo Road, Jessup, MD 7595 Montevideo Road, Jessup, MD 7100 Old Landover Road, Landover, MD “This represents the second largest industrial portfolio transaction we have arranged in the past week. Investor demand for infill last-mile warehouse in the Baltimore/Washington, DC region remains white hot,” said Jonathan Carpenter, Executive Managing Director at Cushman & Wakefield. “These properties are strategically located in the market to service the growing consumer populations of Baltimore and Washington, DC.” Graham Savage, Director, also represented the client. Both he and Jon Carpenter reside in the Baltimore office of Cushman & Wakefield. Jonathan Carpenter +1 410 [...]

By | 2018-04-05T14:24:28+00:00 August 3rd, 2017|In the News|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