9:30 AM
Newmark announces the sale of the Telegraph Portfolio, a four-building, 181,079-square-foot industrial portfolio in the Baltimore-Washington Corridor.
Executive Managing Director Cris Abramson, Director Nicholas Signor and Associate Ben McCarty of Newmark’s Maryland Capital Markets Team facilitated the sale.
“The Telegraph Road Portfolio presents an extremely rare opportunity to purchase true Class-A, small-bay industrial product in a market that has significant barriers to entry,” said Abramson. “Construction prices for comparable product make it cost-prohibitive to duplicate, creating tremendous value for existing product of this caliber.”
The portfolio is 100 percent leased, providing strong in-place cash flow from a diverse tenant roster with contractual rent increases.
The new owner has selected Newmark’s Brian Kruger and Erik Evans to handle leasing for the project.
About Newmark
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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