BALTIMORE – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged the sale of 7447 Candlewood Road located in Hanover, Maryland. Jonathan M. Carpenter and L. Jamie Smith of Cassidy Turley represented the seller, Frank Industries. Prologis (NYSE:PLD) purchased the 117,600 square foot, bulk industrial property for $8,650,000 or $73.55 per square foot. The building, constructed in 1986, is fully leased to a single tenant, Berry Plastics, through March 2022.
“This investment offering received 15 qualified bids, which is a testament to the property location in the heart of the Baltimore-Washington corridor, the high quality credit tenant, and the functionality of the asset,” commented Jonathan M. Carpenter, Managing Director and Principal at Cassidy Turley. “This will be a long term strategic holding and a nice addition to Prologis’ high quality portfolio in the region.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, 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 $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 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 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.
Cassidy Turley Baltimore
With a 90+ year heritage serving clients in the Greater Baltimore Metropolitan area, Cassidy Turley’s client-focused, team approach and reputation for thorough market knowledge is recognized throughout the real estate industry. We are local leaders in Capital Markets – in 2012 and 2013 we completed 24 investment sales transactions totaling $503 million in the Mid-Atlantic Region. As corporate leaders, Baltimore is home to Cassidy Turley’s Chairman of the Board, and its Life Sciences Practice Group and Global Tenant Advisory team. As community leaders, our employees sit on numerous boards and are active volunteers with The Salvation Army, United Way, and Middle Branch Park.