HANOVER, MD-Industrial Income Trust Inc. has paid $11.7 million for a 198,369-square-foot industrial facility at 7463 New Ridge Road in Hanover. The property attracted 17 offers before the Denver-based firm bought it.
The industrial building, developed in 1981, was sold by Bavar Properties Group LLC in Lutherville-Timonium. In April, Industrial Income Trust bought a 128,800-square-foot building in Hanover for $7.8 million. CBRE Group Inc.'s Bo Cashman, John Boote and Jonathan Beard represented Bavar Properties Group in the sale. For the full story, go to Baltimore Business Journal .
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