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BALTIMORE-Two industrial properties in the Baltimore area have found new owners. Accounting for a total of 300,000 sf, the properties–both of which were vacant at the time of the transactions–brought in an aggregate $9 million in two separate deals.

In a $3.6-million transaction, with Jim Caronna of NAI KLNB representing both seller and buyer, 2200 Hollins Ferry LLC acquired a 205,000-sf industrial facility at 2200 Hollins Ferry Rd. from International Paper. The 75-year-old warehouse and the 12-acre parcel it occupies near the intersection of I-95 and I-295 have a current assessed value of $1.6 million.

In Glen Burnie, MD near the Baltimore-Washington International Airport, Merritt Properties purchased the 109,000-sf warehouse at 6691 Bay Meadow Dr. in the Bay Meadow Industrial Park for $5.5 million from Duty Free Americas. The 15-year-old facility occupies a nearly 10-acre parcel and has a current assessed value of $5 million, including land. NAI KLNB’s Jim Caronna and Chris Kubler represented the seller and Bill Pellington of CB Richard Ellis repped the buyer.

The new owner of 2200 Hollins Ferry Rd. is marketing the warehouse for lease or purchase, while the new owner of 6691 Bay Meadow Dr. is putting that facility’s space up for lease only and has secured an agreement from Harmans Construction Co. to occupy part of the building. “Activity for the lease and sale of industrial buildings continues to be brisk in the Baltimore-Washington, DC region, and we are seeing a number of end-users seeking a significant amount of space presently scouring the market,” Caronna says.

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