Baltimore, MD – Cassidy Turley today announced the sale of the Coastal Sunbelt Building, a 171,000-square-foot industrial building located at 8704 Bollman Place in Savage, Maryland. Jon Carpenter and Jay Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, MCG Capital. New York-based Angelo, Gordon & Co. purchased the building for $16,835,000.
Built in 1984 and renovated in 2004, the asset is 100 percent leased to Coastal Sunbelt Produce through 2022 and is located just off I-95 in the Corridor Industrial Park.
Jon Carpenter of Cassidy Turley commented, “This asset appealed to the growing pool of institutional buyers looking for core industrial assets in the much sought after Baltimore Washington Corridor.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 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, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.