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Transwestern Brokers Sale of 392,500-Square-foot industrial warehouse
Firm to Exclusively Handle Leasing and Management of the Property
(COLUMBIA, MD.) – Transwestern has announced that it brokered the sale of a 392,500-square-foot, Class A industrial warehouse building located at 10000 Franklin Square Drive in Baltimore County’s East Industrial submarket. Principal Real Estate Investors acquired the building from Charming Shoppes for an undisclosed price.
“Class A product is dwindling,” stated Mark Glagola, Transwestern senior vice president. “This is a unique opportunity at a fraction of the replacement cost.”
Originally built in 1995, 10000 Franklin Square Drive was the state-of-the-art east coast product distribution facility for Hollywood Studio Warner Brothers. The building features a 42-foot clear height, ESFR sprinkler capacity, more than 170 parking spaces and above-market trailer storage areas. In addition, the property offers unparalleled signage possibilities with its strategic location, virtually on top of I-95 and adjacent to extensive retail amenities.
Glagola and Tom Gentner, senior vice president, represented Principal Real Estate Investors in the acquisition. Transwestern’s Brian Watts and Tom Gentner will handle the leasing of the building along with Transwestern’s management of the property.
ABOUT PRINCIPAL REAL ESTATE INVESTORS
Principal Real Estate Investors manages or sub advises $42.7 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, development, research and sustainability. The fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. Transwestern facilitates better decision-making for clients by combining penetrating local market intelligence and macro-market research through its affiliate, Delta Associates. Transwestern has 33 U.S. offices and assists clients through more than 180 offices in 36 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit www.transwestern.net and follow us on Twitter: @Transwestern.