{"id":1004100471,"date":"2014-07-13T17:41:50","date_gmt":"2014-07-14T01:41:50","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=275417"},"modified":"2020-05-12T02:22:34","modified_gmt":"2020-05-12T10:22:34","slug":"hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\/","title":{"rendered":"Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M"},"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\/07\/7448CANDLEWOODaerial.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-275418\" title=\"_W3P5891_1_edited\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/7448CANDLEWOODaerial.jpg\" alt=\"\" width=\"300\" height=\"190\" \/><\/a>Another industrial property has recently changed hands in the Greater Baltimore area. Last week we reported about several <em><a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/baltimore\/industrial-investors-attracted-to-the-hot-submarkets-north-of-i-95\/1004100000.html\" >acquisitions in the submarkets located to the north of I-95<\/a><\/em> where the industrial market is performing very well. Now, it\u2019s the Baltimore-Washington Corridor\u2019s turn to make the headlines.<\/p>\n<p style=\"text-align: justify;\">Hartz Mountain Industries, Inc., one of the largest private real estate owners and developers in the U.S., has expanded its portfolio of industrial assets with the acquisition of a warehouse in Hanover. CBRE Global Investors, LLC sold the property for $18.71 million. CBRE Senior Vice Presidents Jonathan Beard, Bo Cashman and Ed Harris worked together to represent the owners in the transaction.<\/p>\n<p style=\"text-align: justify;\">The Class A industrial property is located on 20 acres of land, at 7448 Candlewood Road. It offers 278,586 square feet of space, 28-foot clear heights, loading on three sides, parking for about 330 cars, and ample truck courts. The warehouse is currently occupied by Coca-Cola Refreshments USA Inc., but the beverage company plans to vacate by fall.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/84289246.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-275419\" title=\"_W3P5891_1_edited\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/07\/84289246.jpg\" alt=\"\" width=\"300\" height=\"265\" \/><\/a>\u201cIndustrial investors are now focused on finding value-add opportunities in core markets, and the Baltimore-Washington Corridor is no exception. Pricing for the market\u2019s stabilized industrial assets exceed 2007 levels, and opportunities such as 7448 Candlewood, where a re-tenanting initiative is needed, are highly desired,\u201d CBRE Senior Vice President Jonathan Beard said in a press statement.<\/p>\n<p style=\"text-align: justify;\">CBRE reports that demand for industrial space in the Baltimore area has remained flat in Q2 2014, although the overall vacancy rate decreased 0.3%  since Q1, to 8.9%. Compared to the previous quarter, the Baltimore-Washington Corridor saw an increase in renewals. The overall vacancy for warehouse properties in the submarket was 11.8% at the end of Q2. For flex properties it was 8.3%.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credits:<\/em> <em><a href=\"https:\/\/cbre.us\/\" rel=\"nofollow\" >CBRE<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another industrial property has recently changed hands in the Greater Baltimore area. Last week I wrote about several properties which changed hands in the submarkets located to the north of I-95, where the industrial market is performing very well. Now, it&rsquo;s the Baltimore-Washington Corridor&rsquo;s turn to make the headlines.<\/p>\n","protected":false},"author":925,"featured_media":1004505773,"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":[39414,1815],"class_list":["post-1004100471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-latest","tag-baltimore","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>Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M - 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\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M\" \/>\n<meta property=\"og:description\" content=\"Another industrial property has recently changed hands in the Greater Baltimore area. Last week I wrote about several properties which changed hands in the submarkets located to the north of I-95, where the industrial market is performing very well. Now, it&rsquo;s the Baltimore-Washington Corridor&rsquo;s turn to make the headlines.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\/\" \/>\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=\"2014-07-14T01:41:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T10:22:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/7448CANDLEWOODaerial.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M\",\"datePublished\":\"2014-07-14T01:41:50+00:00\",\"dateModified\":\"2020-05-12T10:22:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/\"},\"wordCount\":295,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/7448CANDLEWOODaerial.jpg\",\"keywords\":[\"Baltimore\",\"National\"],\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hartz-mountain-industries-buys-prime-baltimore-washington-corridor-industrial-asset-for-18-7m\\\/\",\"name\":\"Hartz Mountain Industries Buys Prime Baltimore-Washington Corridor Industrial Asset for $18.7M - 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