BALTIMORE – Cassidy Turley today announced the sale of the 599,109-square-foot Riverside Distribution Center. The 93.3%-leased Center comprises two Class A distribution properties located at 121 and 151 Bata Boulevard in Belcamp, Maryland. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Boston-based TA Associates. Pennsylvania-based Exeter Property Group purchased the portfolio for $31,100,000.
“These truly modern and functional Class A properties are equipped with many needed features that serve the evolving distribution needs of today’s corporate tenants,” commented Jonathan Carpenter, Senior Vice President and Principal at Cassidy Turley. “As a testament to the quality of the real estate and the submarket location, we performed over 20 property tours and the offering appealed to a large pool of qualified regional, national, and international investors.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 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 $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants 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. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.