{"id":1004262191,"date":"2018-09-04T02:45:30","date_gmt":"2018-09-04T10:45:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004262191"},"modified":"2022-12-07T23:47:10","modified_gmt":"2022-12-08T07:47:10","slug":"baltimore-office-building-commands-record-price","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/baltimore-office-building-commands-record-price\/","title":{"rendered":"Baltimore Office Building Commands Record Price"},"content":{"rendered":"<div id=\"attachment_1004262203\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/6100-Wabash-Ave..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004262203\" data-attachment-id=\"1004262203\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/baltimore-office-building-commands-record-price\/6100-wabash-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/6100-Wabash-Ave..jpg\" data-orig-size=\"640,512\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"6100 Wabash Ave.\" data-image-description=\"&lt;p&gt;6100 Wabash Ave.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;6100 Wabash Ave.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/6100-Wabash-Ave..jpg?w=640\" class=\"wp-image-1004262203 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/6100-Wabash-Ave..jpg\" alt=\"6100 Wabash Ave.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/6100-Wabash-Ave..jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/6100-Wabash-Ave..jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004262203\" class=\"wp-caption-text\">6100 Wabash Ave.<\/p><\/div>\n<p>CoreCivic has acquired 6100 Wabash Ave., a 540,566-square-foot\u00a0office building occupied by the U.S. Social Security Administration\u00a0in the Baltimore suburb of Reisterstown, Md., for $242 million, from an affiliate of The JBG Cos.<\/p>\n<p><em>\u201cWe are excited to announce this acquisition as we continue to execute our acquisition strategy to expand our portfolio of government-leased real estate assets,\u201d <\/em>Damon Hininger, CoreCivic\u2019s CEO, said in a prepared statement.<em> \u201cSSA\u2013Baltimore is a critical component of SSA\u2019s central office operations and provides us with accretive growth and diversification.\u201d<\/em><\/p>\n<p>JLL\u2019s\u00a0Capital Markets\u00a0team of Executive Managing Director\u00a0John Duffy and Executive Vice Presidents\u00a0Marc Rampulla\u00a0and\u00a0Brian Saal represented the seller in the transaction. The deal is the highest price paid for an office building in the area this year.<\/p>\n<p>The JBG Cos., in partnership with Klein Enterprises, developed the building back in 2012 and leased it to the Social Security Administration for 20 years, under a contract set to expire in January of 2034.<\/p>\n<p><em>\u201cThis was a very attractive and rare opportunity for investors to acquire a high-quality, transit-oriented asset leased to the federal government on a long-term basis and we were able to generate significant interest,\u201d<\/em> Rampulla said in a prepared statement.<\/p>\n<h2><strong>Booming area<\/strong><\/h2>\n<p>The 11-acre property is LEED Silver certified. It\u2019s situated approximately 5 miles from the SSA\u2019s 1.4 million-square-foot headquarters in Woodlawn.<\/p>\n<p>The fact that it\u2019s close to many transportation options is a big factor for its appeal. The building is nearby I-695 and is less than a 30-minute drive from Baltimore Washington International Airport. It\u2019s also adjacent to the Reisterstown Metro station.<\/p>\n<p>More than 1.7 million square feet of retail amenities are within a mile of the property.<\/p>\n<p><em>\u201c6100 Wabash is one of the highest-quality government-occupied buildings in the country,\u201d <\/em>Saal said. <em>\u201cOur team was proud to lead the sale effort.\u201d<\/em><\/p>\n<p><em>Image courtesy of Yardi <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL has facilitated CoreCivic\u2019s $242 million acquisition of a new government-leased, LEED Silver campus in Reisterstown, Md., from an affiliate of The JBG Cos.<\/p>\n","protected":false},"author":451,"featured_media":1004262203,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21743,21808,21783,11,21742,21747],"tags":[32796,38652,41891,33311],"class_list":["post-1004262191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-baltimore","category-deals","category-featured","category-investment","category-midatlantic","category-latest","category-office","tag-jll","tag-klein-enterprises","tag-marc-rampulla","tag-the-jbg-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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