HANOVER, MD-A 128,800-square foot multitenant industrialfacility here has traded for $7.8 million. CBRE brokered thetransaction, pointing to it as an example of the region’s return tonormal activity.
The property, 7453 Candlewood Rd., is fully-leased, and situatedin the heart of the Baltimore-Washington, DC corridor. A subsidiaryof Denver-based Industrial Income Trust purchased the building froman affiliate of Great Point Investors LLC, which is based inBoston. CBRE’s Bo Cashman and Jonathan Beard represented theseller.
Cashman said in a prepared statement that the purchase providesthe buyer with a stabilized asset in a region characterized by afinite amount of available land. “In this first quarter of 2012,industrial investment sales in the Baltimore-Washington Corridorare on pace to reach the normalized transaction volume of 2006 and2007,“ he added.
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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.
