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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.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition