Jimmy DeButts Associate Editor – Baltimore Business Journal
A Denver real estate investment trust recently paid $42.5 million for two industrial buildings in Hanover.
Industrial Income Trust Inc. bought Lincoln Crossroads I and III from Lincoln Property Co.
The properties, located on Route 1, were 56 percent leased at the time of the sale.
Robert Cashman and Jonathan Beard of CBRE represented Lincoln Property Co. Industrial Income represented itself.
Cashman said the properties attracted several offers which bodes will for the local market’s recovery.
“We’ve seen a major uptick in industrial sales in the market,” Cashman said.
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Article source: http://www.bizjournals.com/baltimore/blog/real-estate/2012/01/denver-reit-pays-425m-for-hanover.html
