(For more retail coverage, click GlobeSt.com/RETAIL.)
WOODLAWN, MD—A portfolio of disparate assets including retail,office, and flex space has traded here for $77 million. CalledMeadows Business Park, the 21 buildings are located off of SecurityBoulevard. Because of the portfolio's unusual make-up, two buyerswith dissimilar investment criteria, Virginia-based Atlantic RealtyCo. and an affiliate of Boston-based Colony Realty Partners, cametogether to acquire it from Emmes Realty Services.
"That was one of the challenges we had - identifying a buyerthat was willing to take on that product mix," Chris Kubler of NAIKLNB's Columbia, MD office tells GlobeSt.com. But because theirinvestment goals were different "they were able to rationalize thehigher purchase price because they each assigned higher value toparts of the portfolio that they liked best."
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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.
