{"id":1004089299,"date":"2014-01-07T06:01:04","date_gmt":"2014-01-07T14:01:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004089299"},"modified":"2022-12-08T18:54:32","modified_gmt":"2022-12-09T02:54:32","slug":"cole-grabs-1-2-msf-industrial-property-in-maryland","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cole-grabs-1-2-msf-industrial-property-in-maryland\/","title":{"rendered":"Cole Grabs 1.2 MSF Industrial Property in Maryland"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004089302\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cole-grabs-1-2-msf-industrial-property-in-maryland\/cole\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg\" data-orig-size=\"1024,744\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"COLE\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg?w=1024\" class=\"alignleft size-medium wp-image-1004089302\" alt=\"COLE\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg\" width=\"300\" height=\"217\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg?resize=300,218 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/COLE.jpg?resize=768,558 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Cole Real Estate Investments has acquired 4000 Principio Parkway, a 1.2 million-square-foot warehouse in North East, Md., from Weeks Robinson for a reported approximate $74 million.<\/p>\n<p>The state-of-the-art, Class A industrial facility is leased entirely to Restoration Hardware. Cushman &amp; Wakefield of Maryland, Inc. arranged the sale on behalf of the seller.<\/p>\n<p>\u201cWe saw a red hot industrial market in the I-95 North corridor,\u201d Brian Kruger, director with Cushman &amp; Wakefield\u2019s capital markets team, told <i>Commercial Property Executive<\/i>. \u201cThe appeal was that the property is a Class A core industrial asset fully leased to Restoration Hardware.\u201d<\/p>\n<p>Located in one of the most attractive industrial markets in the United States, Weeks Robinson purchased the existing 600,000-square-foot distribution center in August 2011 and doubled the building\u2019s size in 2012. The property features a 32-foot clear height, 234 dock positions, ample car parking, and 294 trailer storage positions.<\/p>\n<p>Currently, the entire 1.2-million-square-foot space serves as a mission critical facility to Restoration Hardware, and is its largest distribution center in the world. The property is located in proximity to the Port of Baltimore with access to the entire eastern seaboard and near Interstate 95.<\/p>\n<p>\u201cThe acquisition of 4000 Principio Parkway fits Cole\u2019s strategy of acquiring mission critical, net-leased office and industrial assets,\u201d a Cole spokesperson told <i>CPE<\/i>. \u201cThe scheduled rent growth, long-term lease, mission-critical facility and quality location along I-95 made 4000 Principio Parkway an ideal acquisition opportunity for Cole.\u201d<\/p>\n<p>According to the spokesperson, Cole has no plans for changes at the property; the tenant also plans to continue its operations at the property.<\/p>\n<p>Cushman &amp; Wakefield\u2019s capital markets team of Kruger, Cristopher Abramson, Nicholas Signor and Jonathon Chalkley coordinated the disposition of the property on behalf of the Weeks Robinson.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cole Real Estate Investments has acquired 4000 Principio Parkway, a 1.2 million-square-foot warehouse in North East, Md., from Weeks Robinson for a reported $74 million.<\/p>\n","protected":false},"author":451,"featured_media":1004089302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21808,21748,21783,11,21742],"tags":[],"class_list":["post-1004089299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-featured","category-industrial","category-investment","category-midatlantic","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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