Cabot Properties Buys Howard County Industrial Building For $10M
Boston real estate investment firm Cabot Properties has purchased an industrial building in Elkridge's Route 100 Industrial Park for $10M.
Microflex, a seller of disposable medical gloves, leases the entire 144K SF, 43-year-old building formerly owned by DCT Industrial of Annapolis Junction. Newmark Grubb Knight Frank, soon to be called just Newmark Knight Frank, arranged the sale of 6940 San Thomas Road.
The building was attractive for its access to Interstate 95, Route 100 and the Baltimore/Washington Parkway. Rising industrial demand in the region has been led by e-commerce, wholesale food distributors and other companies looking to be close to a densely populated market. Baltimore's industrial market vacancy dipped from 9.5% to 8.6% between Q1 2016 and Q1 2017, according to NGKF.