BALTIMORE-A 222,636-square foot bulk warehouseat 7621 Energy Parkway here has traded for $15.2million. Industrial Income Trust acquiredthe fully leased asset from High Street EquityAdvisors, a Boston-based private equity firm.Jonathan Carpenter and JamesWellschlager of Cassidy Turley’s CapitalMarkets Group represented High Street Equity Advisors. Thelong-term tenant is Reliable Churchill, which isthe largest distributor of wine and spirits in Maryland.

The property received more than 15 offers, according toCarpenter. “The combination of class A real estate with strongtenancy in a favorable market produced great results for theseller,” he said in a prepared statement. The industrial sector hastraditionally been Baltimore’s strong suit for clear reasons—thatis, the robust port of Baltimore, which is one of a handful deemedto be ready to handle the expansion of the Panama Canal.Macroeconomic metrics that look at Baltimore as a whole, however,point to a city that is, like so many in the US, still strugglingwith the recession.

Recent figures from Cushman Wakefield suggestas much. For its recently-released mid year Mid-Atlantic report,researchers got a surprise with the Baltimore employment numbers.While Washington DC’s employment numbers were basically stagnant—atthe same level as they were at the end of 2011—Baltimore, bycontrast, had given back all of the job gains it had made since thebeginning of the year. “Baltimore lost 25,000 jobs in Q2,”researcher Ken McCarthy said during the conferencecall discussing the findings. “We suspect it is a seasonalissue.”