BELTSVILLE, MD-An office-and-warehouse portfolio here has tradedfor $23 million. Boston-based Cabot Properties acquired AmmendaleTechnology Park, a roughly 300,000-square foot, seven-buildingcomplex from Washington Real Estate Investment Trust. CBRE’s BoCashman, Jonathan Beard, Bruce Strasburg, and Marc Rampulla,represented Washington Real Estate Investment Trust in thetransaction.

The buyer is viewing this as a value-add opportunity, Beardtells GlobeSt.com. “They believe that the completion of theinter-county connector will have a direct impact on the property.”In general, he adds, multi-tenant, shallow-bay industrial assets isan attractive product type for institutional investors in theBaltimore-Washington Corridor and Cabot in particular has beenaggressively pursuing such opportunities here. “The landconstrained nature of the market and its consistent demand driversmake this one of the best performing industrial markets in thecountry,” Beard says. Constructed in 1985 and 1986, the 81%occupied office and warehouse facilities also have truckcourts.

Normally a quiet submarket, Beltsville is seeing moreactivity. Jackson-Shaw is redeveloping The Brick Yard,a 125-acre master planned project that includes a 60-acre businesspark. It also includes residential and retail space, a MARCcommuter rail station that connects the development with Baltimoreand Washington, DC.