BALTIMORE, MD—AEW Capital Management and Redgate Capital Partners have acquired a two-building, fully-leased industrial complex here for an undisclosed price. Goldman Sachs was the seller.
Located at 4801 and 4803 Hollins Ferry Rd. in the Halethorpe submarket, the properties total 279,016 square feet and are leased by FedEx, Forward Air and Global Experience Specialists.
Jonathan M. Carpenter, Nicole R. Keelty and Graham Savage of Cassidy Turley represented the seller.
Besides being fully leased to investment-grade tenants, the site also has development potential, Carpenter notes in a prepared statement—on which the buyers appear ready to execute.
4803 Hollins Ferry Rd., a 17.23-acre development site, is approved for an approximately 300,000 square foot distribution center. "We anticipate the highly functional existing building and the soon-to-be built Class A distribution facility will prove to be an outstanding long term investment for AEW and Redgate," Carpenter says.
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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.
