{"id":78,"date":"2020-04-24T15:29:21","date_gmt":"2020-04-24T15:29:21","guid":{"rendered":"https:\/\/yardiblogs.yardi.com\/commercialsearch\/?p=78"},"modified":"2022-01-12T13:47:21","modified_gmt":"2022-01-12T13:47:21","slug":"amazon-buys-techwood-business-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/","title":{"rendered":"Amazon Expands Presence in Baltimore-D.C. Commercial Corridor"},"content":{"rendered":"<p>Cushman-Wakefield completed the $91 million sale of Techwood Business Center in Hanover, Md., on behalf of the seller, RREEF Management LLC. Amazon was the buyer in the deal, adding the Baltimore business park to its expanding portfolio in the state of Maryland.<\/p>\n<p>Part of the Baltimore Commons Business Park, the Techwood Business Center is a six-building, 650,000-square-foot portfolio that is strategically located near Interstates 95 and 97, the main transportation arteries within the Baltimore-Washington, D.C. corridor.<\/p>\n<p>Jonathan M. Carpenter of the Cushman &amp; Wakefield sales team said of the sale, \u201cThis generational industrial offering received tremendous interest from national and international investors. An e-commerce company emerged as the winning bidder in an extremely competitive sales process due to their strategic interest in this business park and the Baltimore-Washington region.\u201d<\/p>\n<p>The high competition was likely driven by the intense activity along the I-95 corridor, as well as the growth of e-commerce in the mid-Atlantic region. In a comment to the <em><a href=\"https:\/\/www.bizjournals.com\/baltimore\/news\/2020\/04\/22\/amazon-shells-out-90m-for-6-building-warehouse.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Baltimore Business Journal<\/a><\/em>, Carpenter added, \u201cFinding 54 contiguous acres of logistics space next to [the Baltimore-Washington International Thurgood Marshall Airport] is rare and very sought after \u2014 pre-COVID and post-COVID. The logistics and industrial sector in real estate will lead us out of this downturn.\u201d<\/p>\n<h2>Amazon\u2019s Growing Maryland Portfolio<\/h2>\n<p>Amazon spokeswoman Rachel Lighty was also quoted by the <em>Baltimore Business Journal<\/em> as stating that the e-commerce juggernaut had already invested $3 billion in Maryland, and had created more than 5,000 full-time jobs in the state since 2010.<\/p>\n<p>What\u2019s more, the company recently expanded into 1 million square feet of <a href=\"https:\/\/www.commercialcafe.com\/industrial\/us\/md\/central-maryland\/east-baltimore\/\" target=\"_blank\" rel=\"noopener noreferrer\">warehouse space in East Baltimore<\/a> at Tradepoint Atlantic \u2014 the ongoing redevelopment of the former Sparrows Point steel mill plant. This 3,250-acre project, slated to become a global commerce hub, is developed by a joint venture between Redwood Capital Investments and Hilco Global. The tenant roster also features the likes of Under Armour, FedEx Ground, Floor &amp; D\u00e9cor and Home Depot.<\/p>\n<p>Amazon had previously opened an 855,000-square-foot facility at Tradepoint Atlantic in 2017. The company also has several large warehouse fulfillment centers in Baltimore City and in Cecil County.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cushman-Wakefield completed the $91 million sale of Techwood Business Center in Hanover, Md., on behalf of the seller, RREEF Management LLC. Amazon was the buyer in the deal, adding the Baltimore business park to its expanding portfolio in the state of Maryland. Part of the Baltimore Commons Business Park, the Techwood Business Center is a six-building, 650,000-square-foot portfolio that is strategically located near Interstates 95 and 97, the main transportation arteries within the Baltimore-Washington, D.C. corridor. Jonathan M. Carpenter of the Cushman &amp; Wakefield sales team said of the sale, \u201cThis generational industrial offering received tremendous interest from national and&#8230;<\/p>\n","protected":false},"author":48,"featured_media":79,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,2],"tags":[],"class_list":["post-78","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-industrial-real-estate-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amazon Buys Hanover MD Business Park | CommercialSearch<\/title>\n<meta name=\"description\" content=\"Amazon expands its Maryland portofolio with $91M acquisition of a six-building Hanover MD business park.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon Buys Hanover MD Business Park | CommercialSearch\" \/>\n<meta property=\"og:description\" content=\"Amazon expands its Maryland portofolio with $91M acquisition of a six-building Hanover MD business park.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/\" \/>\n<meta property=\"og:site_name\" content=\"CommercialSearch\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-24T15:29:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-12T13:47:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2020\/04\/phoenix-skyline.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Ginsac\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ioana Ginsac\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/\",\"name\":\"Amazon Buys Hanover MD Business Park | CommercialSearch\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2020\/04\/phoenix-skyline.jpg\",\"datePublished\":\"2020-04-24T15:29:21+00:00\",\"dateModified\":\"2022-01-12T13:47:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/#\/schema\/person\/48aeaad10a9efc4d927324fcb20632f2\"},\"description\":\"Amazon expands its Maryland portofolio with $91M acquisition of a six-building Hanover MD business park.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2020\/04\/phoenix-skyline.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/blog\/wp-content\/uploads\/sites\/4\/2020\/04\/phoenix-skyline.jpg\",\"width\":1280,\"height\":500,\"caption\":\"center city phoenix skyline\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/blog\/amazon-buys-techwood-business-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Amazon Expands Presence in Baltimore-D.C. 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