X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HARFORD COUNTY, MD-The 317,000-sf Harford Distribution Center has gotten a new owner through a $12.8 transaction between seller Principal Life Insurance Co. of Iowa, and buyer Berwind Property Group Ltd. Berwind Property was acting on behalf of the $384 million, Berwind-sponsored BPG Investment Partnership VI private equity fund.

“Harford Distribution Center is a high-quality asset that is well positioned in a desirable and growing submarket,” says Berwind Property senior vice president Roy Perry. “We believe this acquisition will make an excellent addition to our portfolio and provides us an opportunity to create value through proactive leasing and management.”

Located at 4622 Mercedes Dr. within the Riverside Business Park, Harford County’s largest business/industrial park, Harford Distribution Center is a state-of-the-art industrial facility that was developed in 1996 on a 15 acre parcel of land. The property, which is currently leased to maximum capacity, has a 2003 assessed value of nearly $11 million.

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?

GlobeSt

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.