Industrial Buildings Find New Owners

BALTIMORE-Totaling nearly 145,000 sf, two industrial buildings in the 200-acre Fort Holabird Industrial Park find new owners with the assistance of CB Richard Ellis. The buildings, both 100% occupied, command an aggregate sum of $8.3 million.

By Barbra Murray | July 09, 2004 at 09:46 AM

The 86,000-sf, 18-year-old building at 1821 Portal St. commanded $5.8 million from New York-based Blakely Stern Investment Advisors LLC. Fully leased to Johns Hopkins Bayview Medical Center and Bacchus Importers Ltd., 1821 Portal has a current assessed value of $2.2 million.

"These two sales reflect investor confidence in the submarket close to the Port of Baltimore," CBRE senior vice president Bill Pellington says. Pellington and colleague Bo Cashman were the brokers who orchestrated the transactions.

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