Newmark today announced the sale of six flex industrial buildings located throughout the greater Baltimore region. The Goldstar Group purchased the portfolio from Goodier Properties for $19.85 million.
Executive Managing Director Cris Abramson, Senior Managing Director Brian Kruger, Director Nicholas Signor, and Financial Analyst Ben McCarty of Newmark’s Capital Markets team in Baltimore facilitated the sale.
The portfolio is 95% leased and measures 200,000 square feet across six buildings in Maryland, with assets located in Elkridge, Edgewood, Belcamp, and Bel Air.
“This sale illustrates exactly what investors are seeking today - solid cash flow, functional real estate, and to be located within a core industrial market,” said Kruger.
About The Goldstar Group
The Goldstar Group is a privately-held firm strategically focused on commercial real estate investments and services on behalf of its clients and principals. Primarily focused in the Washington DC metropolitan area, Goldstar’s core capabilities include acquisitions, development, asset and property management, advisory services and capital markets transactions. Founded in 1995, Goldstar has more than 20 years of experience investing, developing and managing all classes of real estate and financial products on behalf of our clients. For additional information visit www.TheGoldStarGroup.com.
About Goodier Properties
Goodier Properties was formed in 2009 by Clay and Dan Goodier to invest in sub-institutional real estate opportunities throughout the Mid-Atlantic. With a focus on management-intensive office, flex, and industrial properties and a long-term investment horizon, Goodier has partnered with numerous family offices and High Net Worth individuals to acquire and operate assets encompassing over 550,000 square feet.
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.