Ruppert Properties Acquires Baltimore Industrial Park
- Nov 29, 2016
by Mihaela Coste
Baltimore—Ruppert Properties acquired Meadows Industrial Park in Woodlawn, Md., a portfolio of seven industrial buildings encompassing 302,046 square feet of space, in a transaction brokered by JLL.
Jay Wellschlager, managing director of JLL’s Capital Markets Group, represented the seller in the transaction. The price of the acquisition and the seller were not disclosed. The properties are part of the Meadows Portfolio, which also includes two office buildings. The office assets total 129,845 square feet and are still on the market.
The properties are located at 1705, 1708, 1713, 1716, 1717, 1817-1821 Whitehead Road and 6601 Whitestone Road in Woodlawn, with immediate access to Interstate 695 and within easy reach from central Baltimore.
The buildings were 90 percent leased to 21 tenants at the time of the sale, the tenant roster including K&G Fashion Superstore, Radio One, Vanns Spices and Zeffert & Gold Catering. According to JLL, the buildings have been maintained to institutional standards and, in the past three years, some have undergone roof replacements.
Image courtesy of Ruppert Properties