Lee & Associates brokers sale of 123,000 s/f industrial building in Beltsville, MD for $15.5M
COLUMBIA, MD — Lee & Associates Maryland, a fully-integrated commercial real estate brokerage and management firm, has brokered the sale of 12100 Baltimore Ave., a 123,000 s/f warehouse/industrial building located in the Beltsville section of Prince George’s County for $15.5 million. Also known as The James A. Cassidy Building, this represents the inaugural acquisition for the buyer, NorthBridge Partners – a commercial real estate and investment company based in Boston -- in the Baltimore-Washington, DC industrial marketplace. Steve Weiss, senior vice president of Lee & Associates and Tom Whelan, principal of Lee & Associates represented the seller, K.C. Real Estate Holdings, in this transaction. Constructed in 1983, the building is 100% leased to tenants that include Ambius, Cheney Flashings and Pella Mid-Atlantic. It features roadside visibility from US Rte. 1 and is within close proximity to MD Rte. 200 and Interstate 95. The Baltimore-Washington Int'l. Airport is less than 20 miles away and the Port of Baltimore is 25 miles from the site. The structure is equipped with 24 foot ceiling heights and dock and drive-in loading capabilities. “Given the long-term lease commitments of three stable companies, combined with the excellent condition of the physical plant, this acquisition represented a tremendous opportunity for NorthBridge Partners to break into the local real estate environment,” said Weiss.