BALTIMORE – Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced the sale of 9060 Junction Drive located in Annapolis Junction, Maryland. The 48% leased, 144,571-square-foot distribution warehouse is located in the Baltimore-Washington Corridor with immediate access to Route 32 and Interstates 95 and 295. Jonathan M. Carpenter and James S. Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Emory Properties. Boston-based TA Associates Realty purchased the property for $8,250,000.
“Since the investment environment for stabilized Class A product has become so competitive, industrial buyers in search for more yield are expanding and moving down the risk spectrum into value-add and Class B opportunities, as evidenced by this sale,” commented Jonathan M. Carpenter, Senior Vice President and Principal at Cassidy Turley.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 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 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.