20A — March 16 - 29, 2018 — DelMarVa — M id A tlantic
Real Estate Journal
www.marejournal.com
D el M ar V a
Terreno Realty Corp. achieves nearly 12% internal return rate on asset in Howard County, MD AllanRiordaof Lee&AssociatesMarylandbrokers sale of 135,000 s/f warehouse building for $11.5M
OLUMBIA, MD — Allan Riorda, SIOR of Lee & Associates Maryland has brokered the sale of a 135,000 s/f indus- trial building in the Jessup section of Howard County to The Class Produce Group for $11.5 million. The seller was Terreno Realty Corpora- tion , a San Francisco-based real estate investment trust that acquired the asset in 2011 and achieved an 11.9% internal return rate on the investment. Riorda, president and principal of Lee & Associ- ates Maryland, represented C
both the buyer and the seller in this transaction. Located at 8441 Dorsey Run Rd., the building is occupied by The Class Produce Group, a privately-owned wholesaler of fruits and vegetables that also manufactures private-label products. “This warehouse/industrial building represented the in- augural investment for Ter- reno Realty Trust in the Mid-Atlantic region and, based on the continued health of the Baltimore-Washington, D.C. real estate environment and the high demand for products
of this type, they earned a sub- stantial return in a relatively short time span,” said Riorda,. “The new owner acquired a strategically-located and highly-functional asset that is perfectly suited to support their real estate requirements in the long-term.” The building is positioned within close proximity to I-95 and MD Rte. 295. n W e s t , L a n e & Schlager’s Danziger named principal Washington, DC — West, Lane & Schlager Re- alty Advisors (WLS) has an-
8441 Dorsey Run Rd.
nounced the promotion of J ona t han D a n z i g e r to principal. Since j o in- ing the firm in 2014 as a v i ce pres i - dent, Jona- than has con-
Integrated Settlement Services A Delaware Full-Service Title Agency Service At Its Best.
Jonathan Danziger
sistently developed innova- tive approaches to high-level, complex real estate issues, been dedicated to exceptional customer service to build long- term partnerships and pas- sionate about protecting client interests. “From day one, Jonathan demonstrated extraordinary leadership and a remarkable ability to understand a client’s real priorities and to struc- ture real estate solutions that serve those needs,” said Rich Lane , principal, West, Lane & Schlager. “He has contributed to the strategic direction of the firm, is a trusted mentor to junior associates and is an influential force in building our culture of client service and dedication. As a top pro- ducer, Jonathan generates numerous new opportunities for the firm. We are extremely proud to welcome him into our partnership.” Danziger graduated from the University of Cincinnati with a bachelor’s degree in communications. He entered the Washington region com- mercial real estate industry as a tenant representation broker in 2005. As a third generation Wash- ingtonian, who currently lives in the Logan Circle neighbor- hood of Washington, D.C., it is appropriate that most of his work is centered in downtown Washington, DC. n
At Integrated Settlement Services , we work with Purchasers, Ground Lessors and Lessees, Developers, Brokers and variety of Mortgage Lenders to ensure that the title to the property being transferred or loan being placed is legally valid, correctly recorded and free of problems. Integrated Settlement Services provides a complete line of commercial title insurance products and services. Our Title Officers, Title Examiners, Attorneys , and Underwriters are technologically proficient and extremely knowledgeable about local market conditions. Our Escrow Officers have the expertise to adhere to the strictest of lender instructions. We communicate clearly and consistently with all parties to the transaction, and pride ourselves on our friendly professionalism.
We have provided services to clients acquiring small commercial properties as well for the acquisition and financing of large commercial projects, including multi-state transactions.
Benjamin J. “Buddy” Berger has been a practicing real estate attorney for over 33 years. Buddy has extensive experience in the title insurance industry as a title agent for several national title insurance companies and has handled a variety of commercial transactions including mixed use projects, student housing projects, and securitized and mezzanine financing transactions.
Benjamin J. Berger, Managing Member | 302.655.1140 | bberger@bergerharris.com www.integratedsettlementservices.com
Made with FlippingBook - Online catalogs