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CBRE IM Fund Acquires 716K-SF Logistics Asset in MD
A fund sponsored by CBRE Investment Management – formerly known as CBRE Global Investors – has acquired a 716,490-square-foot bulk logistics asset in North East, MD. The price was not disclosed.
North East Gateway is a Class A, cross-dock facility that features 40’ clear heights, two points of ingress/egress, 6,000-amp electric service and ample auto and trailer parking. The building is currently 100% leased to a single user.
“We believe that the property’s location within the I-95 North submarket benefits from strong market fundamentals, access to quality labor, and the rising costs in construction, which are driving up rental rates in the area,” said Larissa Belova, portfolio manager for CBRE Investment Management.
North East Gateway is situated 1.5 miles from I-95. The MSAs of Baltimore and Philadelphia, which total approximately 10 million people, are one hour’s drive. The location also has access to the Port of Baltimore, CSX and Norfolk Southern freight services and the BWI Airport.
- ◦Sale/Acquisition
