Exeter Property Group Acquires 117,676 Square Foot 3-Building Suburban Office Portfolio
Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged the sale of Greenway Pointe located at 7164, 7168 & 7172 Columbia Gateway Drive in Columbia, Maryland. The 117,676 square foot, 3-building office portfolio was constructed in 1988, and is 100% leased to multiple tenants including Cardinal Health, Columbia Bank, Jacobs Company and Toll Brothers. Jonathan M. Carpenter and Graham Savage, of Cassidy Turley?s Capital Markets team, represented the seller, TA Associates Realty. Exeter Property Group purchased the portfolio for $16,100,000.
?The strong interest in the portfolio was driven by its location in Columbia Gateway, one of the premier business parks in the Baltimore Washington Corridor, coupled with the strong existing credit tenant roster,? commented Jonathan M. Carpenter, Managing Director and Principal at Cassidy Turley. ?We received 12 highly qualified offers on this suburban office portfolio, signifying an increase in investor appetite for suburban office in the region."
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients?from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services?including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley Baltimore With a 90+ year heritage serving clients in the Greater Baltimore Metropolitan area, Cassidy Turley?s client-focused, team approach and reputation for thorough market knowledge is recognized throughout the real estate industry. We are local leaders in Capital Markets ? in 2012 and 2013 we completed 24 investment sales transactions totaling $503 million in the Mid-Atlantic Region. As corporate leaders, Baltimore is home to Cassidy Turley?s Chairman of the Board, and its Life Sciences Practice Group and Global Tenant Advisory team. As community leaders, our employees sit on numerous boards and are active volunteers with The Salvation Army, United Way, and Middle Branch Park.??????