Newmark announces the sale of North Park, a three-building, 297,231-square-foot office portfolio in Hunt Valley, Maryland to North Park Ventures, LLC.
Executive Managing Director Cris Abramson, Director Nicholas Signor and Associate Ben McCarty of Newmark’s Maryland Capital Markets team facilitated the sale. The transaction is the team’s 12th suburban-Maryland office sale in the last 12 months, and the second in Hunt Valley in the last 30 days.
“North Park is a great example of a consistent performer - classic office product in a thriving submarket with immediate access to countless amenities,” said Abramson.
North Park is 94 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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