Washington DC + DC Metro + Industrial | June 23, 2021

Fundrise Acquires 200K-SF Last-Mile Facility in Maryland

Direct-to-investor real estate investment platform Fundrise has acquired 7980 Tar Bay Drive, a 200,000-square-foot last-mile logistics facility located in the Baltimore-Washington corridor.

Located in Jessup, MD., the newly renovated warehouse sits on a nearly 10-acre parcel of land and contains 28-foot clear heights, 30 dock doors and additional trailer parking. The property is fully leased to a third-party logistics provider.

Jonathan Beard and Bo Cashman of CBRE National Partners Northeast represented the sellers, High Street Logistics Properties and Angelo Gordon in the transaction.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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