BALTIMORE, MD—Cabot Properties has picked up a six-asset multitenant industrial portfolio here from First Industrial Realty for an undisclosed price. CBRE's Jonathan Beard and Bo Cashman arranged the transaction, which entailed some 369,979 square feet of assets, representing the seller.
The six properties are located in the Woodlawn submarket at 2700 Lord Baltimore Dr., 7120-7132 Ambassador Rd., 7142 Ambassador Rd., 7144-7162 Ambassador Rd., 7223-7249 Ambassador Rd., and 7200 Rutherford Rd.
“The opportunity to acquire 370,000 square feet of multi-tenant industrial product in one transaction is rare in the mid-Atlantic,” Beard says in a prepared statement. The properties also are ideal assets as they are located in Baltimore's west side market, which is dominated by such federal government tenants as the Social Security Administration and the Centers for Medicare and Medicaid.
Cabot Properties is expected to continue to expand its portfolio in the market and it will use Beltway West as a cornerstone for this growth, Beard also says.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
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.
