BALTIMORE, MD—In yet another sign that institutional investorsare becoming more and more active in Baltimore's industrial market,Principal Real Estate Investors has acquired a352,850-square foot warehouse here fromMerritt Properties.
CBRE arranged the sale of the Brandon Woods IIwarehouse, which is currently occupied by UnderArmour. The property, located at 7629 Gambrills Cove Rd.,traded for $26.475 million.
"The Under Armour tenancy, Class A quality of the building, andproximity to the Port of Baltimore combined to make this asset ahighly desirable offering for the Baltimore-Washington Corridormarket," CBRE's Robert T. Cashman of CBREInstitutional Properties Group, says in a prepared statement.
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