News
WHERE THE MONEY GOES
May 5, 2011
| Nothing will stop capital's insatiable hunger for core assets in the Baltimore-Washington market, even if they're not for sale: look at the off-market buy LaSalle Investment Management announced today of 7605 Dorsey Run Rd in Jessup from Exeter Property Group. Sources tell us it went for $50.2M. |
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| Exeter Property Group's Scott Dougherty tells us his firm hadn't even considered selling the 613k SF building when offers from major institutions started coming in: "The strong capital flows toward institutional-grade industrial product, and the relative lack of supply in the corridor made an otherwise difficult decision to sell a bit easier." CBRE's Bruce Strasburg and Marc Rampulla repped the buyer, and their firm repped the seller as well. Scott says the 81% leased building is home to three tenants, the biggest of which is Victory Packaging Co. (In other news, we have a DVD collection and some lightly worn hiking boots that we're "not selling" either. $100 OBO.) |
