ELKRIDGE, MD—It has been clear for some time thatinstitutional capital is enamored with industrial assets in theBaltimore-Washington Corridor; now it is becomingclear by just how much. In short, all assets are in play –and that includes opportunistic properties with a 32% occupancyrate.
That describes a recent purchase by TAAssociates – a 205,800-square foot warehouse withinthe Route 100 Industrial Park that is 68% vacant.The sale of the property, located at 6930 San TomasRd., was brokered by Jonathan M. Carpenter, NicoleR. Keelty and Graham Savage of CassidyTurley's Capital Markets team. They represented theseller, Morgan Stanley.
The building traded for $12.5 million.
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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.
