BALTIMORE – Cassidy Turley today announced the sale of 7621 Energy Parkway, a 222,636-square-foot bulk warehouse property located in Baltimore, Maryland. The property is long-term leased to Reliable Churchill, the largest distributor of wines and spirits in the State of Maryland. Jonathan Carpenter and James Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, High Street Equity Advisors, a Boston-based private equity real estate investment firm. Denver-based Industrial Income Trust purchased the 100%-leased asset for $15,225,000.
“This offering received tremendous interest from the marketplace with over 15 offers received on the property,” commented Jonathan Carpenter, Senior Vice President and Principal at Cassidy Turley. “The combination of Class A real estate with strong tenancy in a favorable market produced great results for the seller.”
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.