BELTSVILLE, MD-An office-and-warehouse portfolio here has traded for $23 million. Boston-based Cabot Properties acquired Ammendale Technology Park, a roughly 300,000-square foot, seven-building complex from Washington Real Estate Investment Trust. CBRE’s Bo Cashman, Jonathan Beard, Bruce Strasburg, and Marc Rampulla, represented Washington Real Estate Investment Trust in the transaction.

The buyer is viewing this as a value-add opportunity, Beard tells GlobeSt.com. “They believe that the completion of the inter-county connector will have a direct impact on the property.” In general, he adds, multi-tenant, shallow-bay industrial assets is an attractive product type for institutional investors in the Baltimore-Washington Corridor and Cabot in particular has been aggressively pursuing such opportunities here. “The land constrained nature of the market and its consistent demand drivers make this one of the best performing industrial markets in the country,” Beard says. Constructed in 1985 and 1986, the 81% occupied office and warehouse facilities also have truck courts.

Normally a quiet submarket, Beltsville is seeing more activity. Jackson-Shaw is redeveloping The Brick Yard, a 125-acre master planned project that includes a 60-acre business park. It also includes residential and retail space, a MARC commuter rail station that connects the development with Baltimore and Washington, DC.