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Multi-Asset, Baltimore-Based Industrial Portfolio Trades for $68M
Newmark has completed the $67.5-million sale of a six-asset, 430,118-square-foot industrial portfolio comprising the Baltimore-Washington Corridor and Windsor Mill submarkets. High Street Logistics acquired the portfolio.
Cristopher Abramson, Ben McCarty and Nicholas Signor represented the seller, Link Logistics.
“Significant land constraints and the steady rise in demand from industrial users continue to put upward pressure on rental rents in the mid-Atlantic,” said McCarty. “This portfolio features 25% below market leases on average and varying suite sizes, allowing the new owners to meet the market and capitalize on rising rents.”
The portfolio is 92% leased to 26 tenants across various industries and with staggered rollover.
The largest asset in the portfolio, 6695 Business Parkway, is a 114,980-square-foot, 100% leased, Class A industrial asset located in the Meadowridge Business Park in Elkridge, MD. The remaining Baltimore Beltway portion of the portfolio comprises small-bay industrial assets with direct access to I-695.
Photo: 6695 Business Parkway
- ◦Sale/Acquisition
