Baltimore, MD – Cassidy Turley today announced the sale of 7700 Montpelier Road, a 43,785-square-foot, single-story office building in Columbia, Maryland leased fully to Johns Hopkins University. Cassidy Turley’s Baltimore Capital Markets team represented the owner, CSG Partners, LLC, in the sale to Romanek Properties in partnership with Syndicated Equities, both of Chicago
The tremendous rebound and return of liquidity for core product was truly evidenced with this transaction. The property’s strong location within the Baltimore Washington Corridor and 7-year lease to a triple A credit rated tenant, generated significant interest and a cap rate level not witnessed in the market since 2007
Jon Carpenter, Jay Wellschlager and Philip Iglehart of Cassidy Turley’s Capital Markets Group represented CSG Partners, LLC in the transaction. This is the second transaction for the team within a week, having represented RREEF in their sale of 7603 Energy Parkway to Industrial Income Trust on December 30th.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with over 2,800 professionals in 60 offices nationwide. The firm completed transactions valued over $13 billion in 2009, manages over 427 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, corporate services, project leasing, property management, project and development services, and tenant representation. Outside of North America, Cassidy Turley has served the international needs of its clients since 1985. In 2010, the firm enhanced its global service delivery through its partnership with GVA Grimley. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey, and was ranked #1 by Real Estate Alert for Office Sales in 3 of the Top 6 Markets. Please visit www.cassidyturley.com for more information about the company.