HANOVER, MD-Two recent industrial trades in this part ofMaryland highlight the growing recovery of the industrial sector.One was the sale of Cabot Business Center, a new class Atwo-building industrial/flex complex totaling 98,855 square feetlocated at 7449 and 7455 Race Rd. ING Clarion Partners purchased itfor $12.28-million from Boston-based Cabot PropertiesInc.

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Another was the Industrial Income Trust of Denver agreement withNew Boston Fund to acquire a Hagerstown, MD-based warehouse that isleased to Home Depot for $41.2 million, according to a filing withthe Securities and Exchange Commission.

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Investor appetite for such assets is now very strong, CBRE’s BoCashman, tells GlobeSt.com. Cashman and Jonathan Beard representedCabot Properties in the first transaction.

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Constructed in 2008, Cabot Business Center is a shallow baybuilding that is 78% leased to three tenants. It also features a10,000-square-foot PAD site and 24-foot clear heights in a concretetilt up design. The Home Depot-leased warehouse, acquired byIndustrial Income Trust, is an 824,000-square-foot building locatedat 16500 Hunters Green Parkway.

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In 2009, the region saw about $54 million of industrial sales,Cashman says. Year-to-date, there has been $101 million withanother $65 million expected to close by year-end. The markethasn’t returned to normal, he adds. For that to happen, tradeswould need to be in the $450-million-to-$500-million range. “So weare not back yet but we are doing much better than we did lastyear,” Cashman says.

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