Hot Baltimore-Washington Corridor Industrial Market Sees Another Sale
- Sep 04, 2015
With the Baltimore-Washington corridor resembling an industrial Promised Land, it’s no surprise that investors are rushing to buy properties and expand their portfolios. Most recently, STRS Ohio MD Real Estate Investments LLC has purchased its sixth asset in the area.
STRS Ohio’s latest acquisition is called Arundel Crossing VI and is located right in the heart of the Baltimore-Washington corridor, at 1710 Crossroads Drive in Odenton. The company purchased it from Napoli Properties LLC for $7.98 million. CBRE Senior Vice Presidents Ed Harris and Mike Roden represented the seller in the transaction.
Arundel Crossing VI was constructed in 1999. It offers a total of 89,252 square feet of space, including 4,698 rentable square feet of office space, as well as a fenced truck court, trailer parking, clear heights and ESFR sprinklers. The facility is located close to Ft. Meade, the NSA and BWI Airport, with easy access to Route 32, I-295, I-95 and I-97.
“The sale of Arundel Crossing VI is further evidence of widespread investor interest in high-quality assets within the Baltimore-Washington market,” Mike Roden said in a statement. “The resiliency and strength of the area’s economy, combined with attractive underlying industrial market fundamentals, has led to Baltimore-Washington Corridor being elevated to one of the leading destinations for industrial investments.”
Photo credit: STRS Ohio