BALTIMORE, MD—Federal Capital Partners has acquired a 313,000-square foot industrial distribution facility here for $11.5 million. The building, located at 2209 Sulphur Spring, is one mile from the I-95 and I-695 interchange just south of downtown Baltimore.
The facility recently underwent a $4 million renovation that included modernized dock areas, high efficiency lighting, a new roof, site asphalt and new security features. FCP plans to make additional infrastructure improvements. It has retained Cassidy Turley to lease the property.
Cris Abramson and Brian Kruger of Cushman Wakefield represented the seller in this transaction, which has not been named. Financing was provided by Eagle Bank.
The facility stands out as one of the only existing large contiguous blocks of industrial warehouse space in the supply-constrained Baltimore market, according to FCP Vice President Erik Weinberg.
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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.
