Massive Greater Baltimore Industrial Building Changes Owners
- Jul 01, 2015
By Adrian Maties, Associate Editor
The strong industrial market in the Baltimore-Washington Corridor region has registered another sale. Blue Ocean Realty is the latest company to add its name to the list of industrial buyers in the area.
The Baltimore-based firm’s new acquisition is the massive industrial building at 1954 Halethorpe Farms Road. It purchased the property from the Halethorpe Business Trust for an undisclosed price. MacKenzie’s Investment, Industrial and Capital teams worked together to arrange the sale. Michael Spedden, vice president, and Don Schline, senior vice president and principal, both of MacKenzie Commercial Real Estate Services, LLC, represented the seller in the transaction. Capital advisory services were provide by John Black, president of MacKenzie Capital Company, LLC.
The 680,000-square-foot facility is at 1954 Halethorpe Farms Road. According to MacKenzie, the property was fully leased at the time of the sale to seven tenants. Of these, Alcoa, one of the largest producers of aluminum in the world, occupies 55 percent of the building. The company has recently renewed its lease at the Halethorpe facility.
In a news release, Don Schline said that the building attracted a number of regional and institutional bidders, thanks to its ceiling heights, location in the Baltimore-Washington Corridor and the Alcoa renewal. “With this acquisition, Blue Ocean has obtained instant market scale as they continue to grow their industrial portfolio,” he added.
Photo credit: www.mackenziecommercial.com