Newmark announces the sale of 8140 and 8110 Corporate Drive, a two-building, 152,386-square-foot office portfolio in White Marsh, Maryland. The seller was an affiliate of Fernau LeBlanc Investment Partners, and the buyer was Newfield Property Group.
Executive Managing Director Cris Abramson, Director Nicholas Signor and Associate Ben McCarty of Newmark Capital Markets Maryland team facilitated the sale. The transaction is the team’s 13th suburban-Maryland office sale in the last 12 months, and the fourth in the last 60 days.
“8140 and 8110 Corporate Drive are best-in-class assets in what is becoming a true live, work and play location,” said Signor. “White Marsh Town Center continues to mature, with significant, ongoing development buoying its future growth.”
The portfolio is 98 percent leased, providing strong in-place cash flow from a diverse tenant roster with contractual rent increases.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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