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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