2209 Sulphur Spring Rd

HALETHORPE, MD–Newport Beach, Calif.-based the O’Donnell Group has acquired an empty value-add industrial asset here, for $13.4 million, or $42.81 per square foot. How did it scoop up such a rare find, especially in the BWI Corridor where the vacancy rate is in the single digits? The previous owner of the property, Federal Capital Partners, had run out of time on its hold period and decided to sell, Cushman & Wakefield’s Jonathan M. Carpenter tells GlobeSt.com. Carpenter represented the seller in the deal along with Graham Savage.

The building, located at 2209 Sulphur Spring Rd., had been waiting for county and regulatory approval for a renovation project and it took longer than the seller had anticipated, Carpenter says. “The buyer saw an opportunity for a value-add deal.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.

More from this author


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.