CBRE’s Bo Cashman and Jonathan Beard arranged the transaction on behalf of the seller.
“The McGaw Commerce Center presented willing investors with a rare value opportunity in the Baltimore-Washington corridor with significant leasing upside,” said Cashman. “Given the below-market rents that were in-place, the current rent roll’s near-term lease expirations and the lack of opportunities for tenants elsewhere in the market (just 3.4% market vacancy), the new ownership is poised to benefit from the strongest market fundamentals on record.”
The is comprised of three shallow-bay distribution facilities in the Baltimore-Washington Corridor with immediate access to I-95.
According to CBRE’s Q4 2021 Baltimore Industrial MarketView, net absorption surpassed 7 million square feet in 2021, making it the second-highest year on record behind 2019.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.