Cushman & Wakefield completes sale of two Baltimore-Washington Corridor warehouses totaling more than $25 Million

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 [...]

2019-04-15T18:15:57-04:00April 16th, 2019|In the News|

Cushman & Wakefield Awarded Exclusive Leasing Agency by Maryland Stadium Authority

The B&O Warehouse at Camden Yards is now available for lease BALTIMORE, April 10, 2019 – Cushman & Wakefield announced today that it was awarded Exclusive Leasing Agency by the Maryland Stadium Authority (MSA) for the historic B&O Warehouse at Camden Yards and Camden Street Station, both situated on the Camden Yards Sports Complex. It is the first time the MSA has engaged a commercial real estate agency to support its in-house leasing efforts. “MSA is pleased to partner with Cushman & Wakefield to successfully market the Warehouse and Camden Street Station with the shared goal of 100% occupancy” said David Raith, MSA’s Chief Financial Officer. “The Warehouse offers work space that is a win-win for tenants and their clients who will enjoy ballpark views plus the nearby attractions and transportation options right outside their doorstep” added Raith. The 475,000 square foot B&O Warehouse at Camden Yards was originally built in [...]

2019-04-19T14:12:09-04:00April 10th, 2019|In the News|

Franklin & Prokopik, P.C. renews lease and expands footprint at B&O Building

Historic B&O Building located at 2 North Charles Street in Downtown Baltimore. Cushman & Wakefield is pleased to announce that Franklin & Prokopik, P.C. has renewed its lease at the historic B&O Building located at 2 North Charles Street in Baltimore’s CBD. With its renewal on January 1, Franklin & Prokopik, P.C., professional corporation attorneys at law, expanded its footprint in the building bringing its total to over 37,000 square feet. Owned by Kenwood Management Company, the former Baltimore & Ohio Railroad headquarters built in 1906 underwent an extensive $60 million renovation in 2009. It has four floors of Class A office space and includes a fitness center, conference rooms, valet parking and 24-hour security. “Franklin & Prokopik is an incredible law firm and we really appreciate the relationship that has developed and grown since we purchased this asset,” said Bill Singer, a principal at Kenwood Management Company. [...]

2019-02-28T13:48:21-05:00January 14th, 2019|Press Release|

Cushman & Wakefield Completes Sale of Two Last-Mile Warehouses in the Baltimore-Washington Corridor

8779 Greenwood Place 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. 9050 Junction Drive “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 [...]

2019-02-28T13:59:25-05:00August 10th, 2018|Press Release|

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 [...]

2019-02-28T13:45:55-05:00July 26th, 2018|In the News, Press Release|

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, [...]

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

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 [...]

2018-04-05T14:24:15-04:00February 20th, 2018|In the News, Press Release|

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 [...]

2018-04-05T14:24:17-04:00November 10th, 2017|Press Release|

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.

2018-04-05T14:24:19-04:00October 30th, 2017|Press Release|

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 & [...]

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