COLUMBIA, MD—Exeter Property Group has purchased a three-building, fully leased suburban office portfolio here for $16 million from TA Associates.
The 117,676-square foot portfolio, called Greenway Pointe, is located at 7164, 7168 & 7172 Columbia Gateway Dr. Construction in 1988, it is now home to multiple tenants including Cardinal Health, Columbia Bank, Jacobs Company and Toll Bros.
Jonathan M. Carpenter and Graham Savage of Cassidy Turley's Capital Markets team, represented TA Associates Realty.
"The strong interest in the portfolio was driven by its location in Columbia Gateway, one of the premier business parks in the Baltimore Washington Corridor, coupled with the strong existing credit tenant roster," Carpenter says in a prepared statement. He said the group received 12 highly qualified offers on the portfolio, "signifying an increase in investor appetite for suburban office in the region."
Philadelphia-based Exeter Property Group also recently acquired a 149,680-square foot industrial warehouse in Landover, MD.
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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.
