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Washington DC & Mid-Atlantic  + Baltimore  + Industrial  |  March 26, 2024
Baltimore City
Emily Fu
By: Emily Fu

Faropoint Buys Baltimore City Building for $7M 

Faropoint, a real estate investment group based in Hoboken, New Jersey, specializing in last-mile industrial real estate, has acquired 2915 Wilmarco Avenue, a 62,376-square-foot warehouse building in Baltimore City, for approximately $6.9 million.  

The transaction was brokered by Patrick Smith and Chris Boland of MacKenzie Commercial Real Estate Services, LLC, on behalf of the buyer, and Jonathan Carpenter and Graham Savage of Cushman & Wakefield, who represented the seller, 2915 Wilmarco Avenue, LLC. “It is extremely difficult to find attractive sale/leaseback opportunities in today’s market; especially with strong credit tenants,” said Smith.  

Situated on 3.44 acres adjacent to Interstate 95, the single-story building features 16-foot clear ceiling heights, eight dock doors, and two drive-in doors. The property, constructed in 1968, also includes a free surface parking lot for 30 vehicles. Aalberts Surface Technologies, Inc., a subsidiary of Aalberts N.V., a Dutch manufacturing and engineering company, fully occupies the building. 

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Inside The Story

Patrick Smith

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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