James Briggs
Reporter- Baltimore Business Journal
Industrial Income Trust, a Denver-based real estate investment trust, has made another industrial acquisition in Greater Baltimore.
The REIT purchased a 222,636-square-foot bulk warehouse at 7621 Energy Parkway in Curtis Bay for $15.2 million.
The building is leased to Reliable Churchill, a distributor of wine and spirits.
Jonathan Carpenter, a principal at Cassidy Turley, said the building attracted more than a dozen offers. Carpenter and James Wellschlager of Cassidy Turley represented seller High Street Equity Advisors, a Boston-based real estate investment firm.
“The combination of Class A real estate with strong tenancy in a favorable market produced great results for the seller,” Carpenter said in a statement.
In May, Industrial Income Trust purchased a 198,369-square-foot building in Hanover for $11.7 million, and in April Industrial Income paid $7.8 million for a 128,800-square-foot Hanover building.
James covers real estate and economic development, BBJ RE.
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Article source: http://www.bizjournals.com/baltimore/blog/real-estate/2012/08/industrial-income-buys-energy-pkwy.html
