TA Realty Sells 20-Property, 2.8 Million-SF Portfolio Concentrated in Baltimore Region
Nest Northstar (NYSE: CLNS) has actually completed a deal to get $201 million worth of industrial property along the I-95 passage between Maryland and Delaware from fellow institutional financier TA Realty.
The Los Angeles-based Colony Northstar paid almost $72 per square foot for the portfolio, which totals 2.8 million square feet over 20 homes with the highest concentration situated in the Baltimore MSA.
The Mid-Atlantic portfolio, that includes the seven-building DeSoto Business Park in Baltimore, is 94% leased to 64 renters headlined by McCormick & & Co., Cost Modern, Sardo & & Sons Warehousing, Gourmet Pastry shop, MXD Group and Capitol Express. The remaining properties total 434,969 square feet and lie in Newark, DE and Aston, PA.
. Jonathan Carpenter, Graham Savage, Andrew Stanford, Laura Smith, Jarred Testa, Tilghman Herring, Robert Yoshimura and Joseph Hill of Cushman & & Wakefield, in partnership with in-house associate Nicole Dutra Grinnell, handled the personality on behalf of TA Realty.
Please see CoStar COMP # 3956427 to find out more on this transaction.