LANDOVER, MD—An 149,680-square foot industrial warehouse located at 6100 Columbia Park Rd., has traded hands, the brokers in the deal report. Declining to provide buyer or price, Ares Management and Adler Realty Services sold the property to the buyer, while Avison Young's Chip Ryan, Matthew Clinebell, Jim Kornick and Michael Royce acted on behalf of the sellers.
The building is fully occupied by two credit tenants through 2018. Some of its selling points include outside storage and its location within a State of Maryland Enterprise Zone Focus Area. Interest was strong Clinebell says, with a 30-day marketing process drawing close to a dozen bids.
Another selling point the brokers used was its position as an infill industrial facility in the DC market-an advantage that was also on display earlier this spring when a nearby warehouse, 6300 Columbia Park Rd., sold for approximately $9.7 million.
Exeter Property Group purchased it from David C Sprafkin.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
