Transwestern Marketing Property Anchored by Lockheed Martin, AT&T and Sprint
Transwestern announces it has been retained to sell Parkway Industrial, a seven-building, 499,639-square-foot flex/industrial portfolio located 7 miles from the Baltimore-Washington International Airport. Mark Glagola and Gerry Trainor of Transwestern’s Mid-Atlantic Capital Markets Group are representing an undisclosed seller.
“This core-plus portfolio offers a rare opportunity to buy a well-located, institutional-quality flex/industrial portfolio in the Baltimore-Washington Corridor, a severely supply-constrained market with strong fundamentals,” said Glagola. “New ownership will be well positioned to benefit from the recent economic recovery seen in small and medium-sized businesses.”
The property is 95.5 percent occupied, including anchor tenants Lockheed Martin, AT&T and Sprint. The portfolio’s exceptional infrastructure and location make it ideally suited for defense and cybersecurity companies. The property is proximate Fort Meade – home to the headquarters of the National Security Agency (NSA), the U.S. Cyber Command and the Defense Information Systems Agency (DISA) – and includes access to “dark fiber” cabling that provides a secure, direct communication line to the NSA.
The Baltimore-Washington Corridor and the portfolio have experienced strong rent growth and positive absorption in the past 18 months, with the current overall market vacancy rate at 9.4 percent, according to Transwestern research.
The location offers easy access to Interstates 95 and 97 and the Baltimore Washington Parkway. The portfolio includes following properties: 7222 Parkway Drive; 7100, 7115, 7121 and 7150 Standard Drive; 7267 and 7270 Park Circle Drive in Hanover, Maryland.
Transwestern’s Mid-Atlantic Capital Markets Group focuses on investment services throughout the Washington, D.C., region, providing clients with exceptional service and market knowledge. During the past 24 months, the group’s transactions have exceeded $1.8 billion in aggregate value. The team’s success is a direct result of detailed underwriting and keen understanding of the local, national and international investment communities. For more information, visit the Mid-Atlantic Capital Markets Group website.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Mid-Atlantic region, follow @TranswesternDC.
