{"id":1004123905,"date":"2015-07-24T02:09:43","date_gmt":"2015-07-24T10:09:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=355572"},"modified":"2020-04-28T00:36:34","modified_gmt":"2020-04-28T08:36:34","slug":"linthicum-office-park-changes-owners","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/linthicum-office-park-changes-owners\/","title":{"rendered":"Linthicum Office Park Changes Owners"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\">As of July 1, West Quest Technology Park in Linthicum\u00a0is \u00a0under new ownership.<\/p>\n<div id=\"attachment_355724\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/West-Quest-Technology-Park-Linthicum-MD.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-355724\" title=\"West Quest Technology Park - Linthicum, MD\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/West-Quest-Technology-Park-Linthicum-MD.jpg\" alt=\"West Quest Technology Park - Linthicum, MD\" width=\"300\" height=\"115\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">West Quest Technology Park &#8211; Linthicum, MD<\/p>\n<\/div>\n<p style=\"text-align: justify;\"><a title=\"Columbia Property Trust\" href=\"https:\/\/www.columbiapropertytrust.com\/\" target=\"_blank\" rel=\"nofollow\">Columbia Property Trust, Inc.<\/a> announced the sale as part of an 11-property, national portfolio that changed hands for $433.3 million. The buyer was an unnamed real estate private equity fund. Jonathan M. Carpenter, William Collins, Nicole R. Keelty and Graham Savage of <a href=\"https:\/\/dtz.cassidyturley.com\" target=\"_blank\" rel=\"nofollow\">DTZ<\/a>\u2019s Capital Markets team represented Columbia in the transaction.<\/p>\n<p style=\"text-align: justify;\">The West Quest Technology Park consists of two Class A office buildings, located on more than 20-acres at 1580 West Nursery Rd. within the Baltimore-Washington Corridor. The two properties, which are currently fully leased by Northrop Grumman,\u00a0offer 315,350 square feet of space. They serve as the corporate headquarters for the global security company\u2019s Electronics Systems Sector.<\/p>\n<p style=\"text-align: justify;\">According to <a href=\"https:\/\/www.propertyshark.com\/\" target=\"_blank\" rel=\"nofollow\">PropertyShark<\/a>, West Quest has a market value of $93.1 million.<\/p>\n<p style=\"text-align: justify;\">Columbia acquired the property for $97.6 million in September 2008. This spring, the Atlanta-based REIT revealed plans to reshuffle its portfolio with the disposition of 14 assets\u2014 including West Quest Technology Park\u2014during 2015.<\/p>\n<p style=\"text-align: justify;\">With 11 of those properties now gone, Columbia is looking to sell the remaining three. The remaining assets are 1881 Campus Commons in Reston, Va.; 800 N Fredrick Avenue in suburban Maryland; and 263 Shuman Boulevard in suburban Chicago. The sale of the first office building is expected to close in the third quarter of 2015, the second by the end of the year, and the third in 2016.<\/p>\n<p style=\"text-align: justify;\">\u201cThe pricing for the first 11 properties is in line with our expectations, and we are confident that, with the sale of the three remaining properties, total proceeds will be within our expected range of $500 million to $600 million,\u201d Nelson Mills, president &amp; CEO of Columbia, said in a prepared statement. The REIT plans to use the proceeds from the sale of the 14 assets to reduce outstanding borrowings.<\/p>\n<p style=\"text-align: justify;\"><em>Image via DTA<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As of July 1, West Quest Technology Park in Linthicum is  under new ownership.<\/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":[],"class_list":["post-1004123905","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest"],"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>Linthicum Office Park Changes Owners - 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\/linthicum-office-park-changes-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Linthicum Office Park Changes Owners\" \/>\n<meta property=\"og:description\" content=\"As of July 1, West Quest Technology Park in Linthicum is under new ownership.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/linthicum-office-park-changes-owners\/\" \/>\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=\"2015-07-24T10:09:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T08:36:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/West-Quest-Technology-Park-Linthicum-MD.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\\\/linthicum-office-park-changes-owners\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/linthicum-office-park-changes-owners\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Linthicum Office Park Changes Owners\",\"datePublished\":\"2015-07-24T10:09:43+00:00\",\"dateModified\":\"2020-04-28T08:36:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/linthicum-office-park-changes-owners\\\/\"},\"wordCount\":309,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/linthicum-office-park-changes-owners\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/07\\\/West-Quest-Technology-Park-Linthicum-MD.jpg\",\"articleSection\":[\"Baltimore\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/linthicum-office-park-changes-owners\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/linthicum-office-park-changes-owners\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/linthicum-office-park-changes-owners\\\/\",\"name\":\"Linthicum Office Park Changes Owners - 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