EDGEWOOD, MD-Aurora, CO-based ProLogis has acquired a 602,500-sf distribution center off Interstate 95 in suburban Baltimore in a deal valued at $21.3 million. Located at 1701-1709 Trimble Rd. in Harford County, the 14-year-old former Gap Mid-Atlantic Distribution Center is divided into a main warehouse, a high bay warehouse and a 22,000-sf office segment.
Bill Pellington, John Wilhide and Bo Cashman of real estate services firm CB Richard Ellis marketed the property directly to the investment community on behalf of the seller, San Francisco-headquartered clothing chain the Gap Inc. CBRE represented the Gap, while the buyer represented itself.
The structure occupies a 175-acre parcel of industrial land, 125 acres of which are available for development. "Investment opportunities," Pellington tells GlobeSt.com, "continue to be very, very strong in the Baltimore Metro area."
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