{"id":1004098923,"date":"2014-06-20T18:34:48","date_gmt":"2014-06-21T02:34:48","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=270810"},"modified":"2020-04-06T03:36:33","modified_gmt":"2020-04-06T11:36:33","slug":"jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\/","title":{"rendered":"JV Buys Large Industrial Building and Development Site in Baltimore County"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/1316543215642.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-270812\" title=\"1316543215642\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/1316543215642.jpg\" alt=\"\" width=\"184\" height=\"300\" \/><\/a>AEW Capital Management, a Boston-based privately owned real estate investment manager, has recently formed a joint venture with Redgate Capital Partners, a private equity real estate investment firm also headquartered in Bean Town, to acquire a large industrial building and a development site in Baltimore County.\u00a0The price of the transaction was not disclosed. Cassidy Turley arranged the sale.<\/p>\n<p style=\"text-align: justify;\">The industrial building is located at 4801 Hollins Ferry Road, in Halethorpe. It was constructed in 2008 and offers 279,016 square feet of space. According to Cassidy Turley, the Class A industrial building was fully leased at the time of the sale to three national credit tenants: FedEx, Forward Air and Global Experience Specialists.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.propertyshark.com\" target=\"_blank\" rel=\"nofollow\"><em>PropertyShark<\/em><\/a><em> <\/em>reports that the property last changed hands in 2013, for $13 million. The real estate website also says that the current market value of 4801 Hollins Ferry Road is $11,087,300.<\/p>\n<p style=\"text-align: justify;\">4803 Hollins Ferry Road is a 17.23-acre development site. It was approved for an approximately 300,000 square foot, Class A distribution center. According to PropertyShark, this property also last changed hands in 2013, for $7 million. Its current market value is $2,338,000.<\/p>\n<p style=\"text-align: justify;\">Cassidy Turley\u2019s Capital Markets team represented the seller, Goldman Sachs, in the transaction. It included Jonathan M. Carpenter, Nicole R. Keelty and Graham Savage.<\/p>\n<p style=\"text-align: justify;\">\u201cThe opportunity to acquire this high quality well leased industrial building, combined with a rare development site in the Baltimore Washington Corridor, appealed to a wide audience of national and international investors,\u201d Jonathan M. Carpenter, managing director and principal at Cassidy Turley, said in a press statement. \u201cWe anticipate the highly functional existing building and the soon-to-be built Class A distribution facility will prove to be an outstanding long term investment for AEW and Redgate.\u201d<\/p>\n<p style=\"text-align: justify;\">The Baltimore metropolitan area continues to experience slow but steady job growth. Its unemployment rate has decreased to 6.3%, the lowest point since the end of 2008 and also lower than the national average of 7.0%. The low unemployment rate, together with the region\u2019s location, close to Washington, D.C. and Philadelphia, and with easy access to the Port of Baltimore, make the Baltimore metro area attractive to industrial investors and users.<\/p>\n<p style=\"text-align: justify;\">CBRE reports that Class A availability continued to shrink in the first quarter of the year, accelerating rent growth. The region\u2019s overall industrial vacancy decreased to 9.2% while the overall asking rent increased by $0.22 to $5.22 per square foot on a triple net basis.<\/p>\n<p style=\"text-align: justify;\">Charts courtesy of <em><a href=\"https:\/\/www.cbre.us\/\" target=\"_blank\" rel=\"nofollow\">CBRE<\/a><\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AEW Capital Management, a Boston-based privately owned real estate investment manager, has recently formed a joint venture with Redgate Capital Partners, a private equity real estate investment firm also headquartered in Bean Town, to acquire a large industrial building and a development site in Baltimore County. The price of the transaction was not disclosed. Cassidy Turley arranged the sale.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[1815],"class_list":["post-1004098923","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JV Buys Large Industrial Building and Development Site in Baltimore County - Commercial Property Executive<\/title>\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\/news\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Buys Large Industrial Building and Development Site in Baltimore County\" \/>\n<meta property=\"og:description\" content=\"AEW Capital Management, a Boston-based privately owned real estate investment manager, has recently formed a joint venture with Redgate Capital Partners, a private equity real estate investment firm also headquartered in Bean Town, to acquire a large industrial building and a development site in Baltimore County. The price of the transaction was not disclosed. Cassidy Turley arranged the sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-21T02:34:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-06T11:36:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/06\/1316543215642.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"JV Buys Large Industrial Building and Development Site in Baltimore County\",\"datePublished\":\"2014-06-21T02:34:48+00:00\",\"dateModified\":\"2020-04-06T11:36:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/\"},\"wordCount\":407,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/06\\\/1316543215642.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-large-industrial-building-and-development-site-in-baltimore-county-2\\\/\",\"name\":\"JV Buys Large Industrial Building and Development Site in Baltimore County - 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