Cushman & Wakefield Completes $51M Sale of Three-Building Core Logistics Portfolio in the Baltimore-Washington Corridor

BALTIMORE--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) recently announced the completed $51,250,000 sale of a three-building, 339,000-square-foot (sf) portfolio located in the Baltimore-Washington Corridor.

This core logistics portfolio includes three Class A buildings, located at 7190 Parkway Drive, Hanover Md., 9070 Junction Drive, Annapolis Junction Md. and 7125 Troy Hill Drive, Elkridge Md., which make up one of the most strategic industrial portfolios in the Baltimore region.

“This portfolio was unmatched in its quality and location with all three buildings providing features demanded by today’s industrial tenants,” said Jonathan Carpenter, executive managing director at Cushman & Wakefield. “The buildings were also located in the BW Corridor’s best performing business parks, which provide immediate access to I-95 in between the DC and Baltimore Beltways.”

Each building in the portfolio offers above-market parking ratios and is strategically located to offer tenants immediate access to the region’s primary transportation arteries including I-95, I-295, I-195, I-97, Route 100 and Route 1.

The three buildings are currently fully leased to 11 credit tenants.

Cushman & Wakefield’s Jonathan Carpenter and Graham Savage represented the seller, Terreno Realty Corporation (NYSE: TRNO). Longpoint Realty was the buyer in the transaction.

In the past 12 months, Carpenter and Savage have closed nearly $400 million in industrial volume.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.