Mid Atlantic Real Estate Journal — February 8 - 21, 2013 — 13A
www.marejournal.com
154,400 s/f in the Curtis Bay section of Baltimore Hartz Mountain Industries acquires second warehouse space in Maryland for $13.5 million
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ALTIMORE, MD — Hartz Mountain Industries has pur-
tain Industries. “The Curtis Bay property’s location has a similar appeal for industrial and importing businesses that go through the port in Baltimore.” Har t z Mounta in was represented in-house, and the seller, Swan Creek 5R LLC, was represented by “Bo” Cashman, Jonathan Beard and John Wilhide of CBRE. “This facility is an attrac- tive investment opportuni- ty,” stated Jonathan Beard of CBRE, Inc. “Hartz Mountain will enjoy the exceptional quality of the facility and the security of a decade long income stream from an al- ready secured tenant.” The building includes 29 loading docks and is part of the Marley Neck Industrial Park. n will be every bit as gracious, friendly and supportive. I’d like to thank Tim Jackson and the team at Cushman & Wakefield for their guidance throughout this process.” Cushman & Wakefield leas- ing agent Tim Jackson negoti- ated the lease on behalf of the tenant. Leasing agents Kevin Wille, Dan Callihan, Karen Robertson and Peter Kim- mel of CBRE in Baltimore represented 10150 York Road on behalf of the landlord, Greenfield Partners. Greenfield Partners plans extensive updates to the build- ing, including enlarging the windows, and full lobby, el- evator and parking garage renovations. 10150 York Road is located within close proxim- ity to hotels, shopping malls, retail centers and health clubs. The property offers easy ac- cess to I-83. Approximately 55,000 s/f remains available for lease. n
chased a 154,400 s/f ware- house in the Curtis Bay section of Baltimore for $13.5 million. Nissan North America recently signed a ten-year lease for the entire building at 1021 Swan Creek Dr. which was developed in 2007 by the seller and cur- rent occupant, Belt’s Corpo- ration. Hartz Mountain also owns a 634,000 s/f class A distri- bution center located at 913 Old Philadelphia Rd. in Ab- erdeen, MD. It procured the property, which is occupied by Pier 1 Imports, in 2006. “In the 1970’s Hartz devel- oped properties in Secaucus for businesses that needed to be near Port Newark,” said Emanuel Stern , president and COO for Hartz Moun- Wilmington, DE — Marcus & Millichap Real Estate Investment Ser- vices , one of the nation’s largest real estate investment services firm, has sold a mixed use asset of 64 apartments and two commercial units in pres- tigious Trolley Square. The asset sold for $5.825 million, or $88,258 per unit, which was 99% of the asking price. Mark Thomson , VP invest- ments, and Zachary Pierce , senior associate, represented the seller, a Delaware limited liability company, and also procured the buyer, a regional investment group from Penn- sylvania. “This asset sits on argu- ably the strongest corner in the state of Delaware,” says Thomson. “Trolley Square is a thriving neighborhood of predominantly young profes- sionals with a vibrant night- life of restaurants and bars.” According to Thomson, the asset generated a great deal of
1021 Swan Creek Dr.
Marcus & Millichap broker $5.825 million mixed use asset
Cushman & Wakefield’s Jackson inks 52,111 s/f lease
Hunt Valley , MD — Cushman & Wakefield an- nounced that Diamond Comic Distributors, Inc. signed a long-term lease for 52,111 s/f at 10150 York Road, a 178,286 s/f class A office building in Hunt Valley. Diamond Comics, the world’s largest distributor of English-language comics, graphic novels and related pop-culture merchandise, plans to relocate to its new corporate headquarters in July 2013. “With the growth Diamond Comic Distributors has ex- perienced over the last few years despite the economic downturn, we saw the expira- tion of our current lease as an opportunity to facilitate further growth by realigning our various departments to be more space efficient and user friendly. We have enjoyed 20 great years at a wonderful location, and we have every confidence our new landlord
Trolley Square
buyer interest. “The location, coupled with the fact that the asset is very well maintained by the previous owners, led to a great deal of activity. The property has been historically fully occupied, even through the recession, and will gener- ate consistent cash flow for years to come. For this sale, we generated interest frombuyers in multiple states throughout the Northeast, which contin- ued our track record in Dela- ware of attracting out of town investors.” This reference is
to the sale of The Mayfair Apartments, 108 units also on DelawareAvenue in Trolley Square, which Thomson previ- ously sold to a 1031 exchange buyer from New York. Pointing out the full scope of service in closing the transac- tion, Pierce adds, “Our buyer took advantage of the strong debt markets by working with James Conley, Director of Marcus & Millichap Capital Corporation in Philadelphia. This control over the process was important because the
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