Longpoint Realty Purchases $51M Logistics Portfolio
The 339,000-square-foot industrial portfolio comprises three, fully-leased assets located within the Baltimore-Washington corridor.
BALTIMORE – Terreno Realty Corp. has sold its 339,000-square-foot, three-building, core logistics portfolio to Longpoint Realty for $51.3 million.
Each situated within the Baltimore-Washington corridor, the class A buildings consist of 7190 Parkway Dr. in Hanover, MD; 9070 Junction Dr. in Annapolis Junction, MD; and 7125 Troy Hill Dr. in Elkridge MD.
The three properties are currently fully-leased to 11 different credit tenants.
The assets each offer immediate access to I-95, I-295, I-195, I-97, Route 100 and Route 1, in between the Washington DC and Baltimore beltways. Each building additionally features above-market parking ratios.
Cushman & Wakefield’s Jonathan Carpenter and Graham Savage represented the seller and completed the sale. Carpenter and Savage have separately closed nearly $400 million in industrial volume within the past year.