UPPER MARLBORO, MD—The Collington Trade and Business Center, a 576,652-square foot industrial/flex portfolio located at 501–687 Commerce Dr. and 15800-15850 Commerce Ct. has traded for $37 million. The portfolio is 60% leased to 40 tenants. Jonathan M. Carpenter, Jud Ryan, Bill Collins, Paul Collins, Drew Flood and James Cassidy of Cassidy Turley's Capital Markets team, represented the seller, MGP Real Estate. Exeter Property Group was the purchaser.
"Demand for industrial investment opportunities in the Washington-Baltimore region has intensified in 2014," Carpenter said in a prepared statement. "Investors recognize the compelling supply and demand fundamentals of the industrial market that services the third largest consumer population in the country."
Certainly Exeter has been an eager acquirer of these and related assets. Earlier this month it purchased a three-building, fully leased suburban office portfolio in Columbia, MD, for $16 million from TA Associates. In April it acquired a 149,680-square foot industrial warehouse located at 6100 Columbia Park Rd. in Landover. That same month it also acquired an eight-building, 4.4-million-square-foot industrial portfolio in the Nashville metro area and Columbus, OH, for the $132 million.
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