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E-Commerce Tenant Pays $91M for Baltimore Portfolio

Cushman & Wakefield completed the $90,500,000 sale of Techwood Business Center, a six-building, 648,173-square-foot portfolio within the Baltimore Commons Business Park in Hanover, MD. According to the firm’s first-quarter Baltimore industrial market report, the buyer was Amazon, which is expanding its presence along the Baltimore-Washington corridor.

“This generational industrial offering received tremendous interest from national and international investors,” said Jonathan M. Carpenter of Cushman & Wakefield’s Baltimore capital markets team. “An e-commerce company emerged as the winning bidder in an extremely competitive sales process due to their strategic interest in this business park and the Baltimore-Washington region.”

Carpenter and colleague Graham Savage represented the seller, identified in the Q1 report as RREEF Management LLC.

Techwood Business Center’s location provides immediate access to the region’s transportation arteries and offers a rare combination of scale and functionality in one of the nation’s highest performing supply-constrained markets, according to Cushman & Wakefield.

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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).