Baltimore, MD – Cassidy Turley today announced the sale of Rutherford Business Park, a 363,674-square-foot, 13-building, office portfolio located in Woodlawn, Maryland. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Corporate Office Properties Trust. A joint venture between Chicago-based Blue Vista Capital Partners and Maryland-based CSG Partners purchased the portfolio for $32,500,000.
Jonathan Carpenter of Cassidy Turley commented, “This sale is a continuation of a trend of REIT portfolio sales. As REITs continue to shed non-core assets, attractive investment opportunities are being created for well-capitalized buyers. In the near term, Cassidy Turley expects to see several more REIT portfolio sales in the Baltimore and surrounding Mid-Atlantic region.”
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.