BALTIMORE – Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced the sale of 8125 Stayton Drive located in Jessup, Maryland. This 205,000-square-foot industrial warehouse is fully leased to Capitol Express & Warehousing through 2018. Jonathan M. Carpenter and James S. Wellschlager of Cassidy Turley’s Capital Markets Group represented the seller, Stayton Associates. Boston-based TA Associates Realty purchased the property for $13,700,000.
“The lack of new construction and land availability, as well as tightening occupancy rates, continue to make the Baltimore Washington Corridor a tier 1 industrial market for institutional capital,” commented James S. Wellschlager, Senior Vice President and Principal at Cassidy Turley. “Given these fundamentals, a fully leased and highly functional Class B building such as 8125 Stayton, that can be acquired at a favorable basis, will command enthusiastic interest from prospective buyers as demonstrated by this recent sales effort.”
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.