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BALTIMORE-Four industrial buildings accounting for an aggregate 400,000 sf have been snapped up in two different transactions. The total of the sales amounted to $18.4 million.

CB Richard Ellis’ Industrial and Investment Properties Groups were at the helm of the dispositions, representing the seller of Baltimore’s three-building Holabird Business Park, as well as the former owner of 8000 Telegraph Rd. in Severn. “Sales and leasing of industrial properties are brisk,” CBRE’s Bo Cashman notes. “We have seen tenants leasing more space, pushing vacancy rates down and inflating investors’ appetite for industrial product in this market.”

RREEF acquired Holabird Business Park–which consists of 6615 Tributary St., and 1811 and 1831 Portal St—from First Industrial Realty Trust in a $10.1 million deal. Cashman and colleague Bill Pellington represented the seller. The three-structure warehouse portfolio features about 172,400 sf of space and is presently 70% leased with the likes of FedEx Ground serving as one of the major occupants.

Additionally, Kennedy Associates Real Estate Counsel acquired the 221,000-sf warehouse at 8000 Telegraph Rd. from Whitehall Industrial Properties. With the assistance of Bo Cashman, John Wilhide and Ed Harris, the seller walked away with nearly $8.3 million in exchange for a property that is fully occupied by Diversified Distribution Systems. “There has been a lot of coverage of the record sales activity in the office market around the region, but what often gets overlooked is what is happening on the industrial side,” Cashman adds.

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