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Baltimore-D.C. Corridor Sees Its Largest Single-Asset Industrial Deal
The Mid-Atlantic Commerce Center, an 853,520-square-foot Class A industrial building at 7600 Assateague Dr. in Jessup, MD, has traded to an investment vehicle currently managed by Grandview Partners. A joint venture led by local operator Manekin was the seller in what was reportedly an $88-million deal as well as the largest-ever single-asset industrial sale by square footage in the Baltimore-Washington Corridor market.
An NKF capital markets team of Cris Abramson, Nicholas Signor and Ben McCarty facilitated the sale. The firm’s Brian Kruger provided leasing advisory services.
“This sale represented a rare opportunity for Grandview Partners to both enter the market and place a meaningful amount of value-add capital in an exceptional property with investment-grade tenancy,” said Abramson.
7600 Assateague is currently home to Walmart, Pepsi and ASR Group. NKF’s Kruger and Erik Evans have been hired to lease up the property’s remaining space.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
