Gramercy Property Trust Acquires Truck Terminal in Baltimore Washington Corridor for $5.9 Million

Published on June 28, 2013


BALTIMORE – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged the sale of 6351 S. Hanover Road in Elkridge, Maryland.  The 61-door truck terminal is located on 10.5 acres and is fully occupied by New Penn, a subsidiary of YRC Regional Transportation, specializing in Northeast regional LTL service.  Jonathan M. Carpenter, James S. Wellschlager and Lawrence Casey of Cassidy Turley represented the seller, A. Duie Pyle.  New York-based Gramercy Property Trust purchased the property for $5,900,000, or $96,721 per door.

“With immediate access to I-95 and a strategic location between the high density Baltimore and Washington population centers, this terminal facility and land site will provide Gramercy Property Trust with a strong cash flow for years to come,” commented Jonathan M. Carpenter, Managing Director and Principal at Cassidy Turley.

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 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 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 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.

Rebecca Murphy
410.347.7814

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