Hunt Valley Flex Asset Changes Hands
- Sep 04, 2015
By Adrian Maties, Associate Editor
CBRE has been very busy in recent weeks in the Greater Baltimore industrial market. After arranging the sale of Arundel Crossing IV in the Baltimore-Washington corridor, the commercial real estate company moved to the north of the metro area, in Hunt Valley, and brokered another deal there.
CBRE’s Alan Grace, Ketch Secor, and Ryan Engles helped First Industrial Realty Trust sell the flex asset at 318 Clubhouse Lane to Media Star Promotions. Although the price of the transaction was not disclosed, First Vice President Ketch Secor said in a statement that the property received a great deal of interest.
“The flex market has experienced an influx of end-users employing a strategy to acquire high quality, well-located, properties throughout the Mid-Atlantic region, and CBRE research suggests strong growth projections for the region,” Vice President Alan Grace added.
Media Star’s new acquisition is a 30,000-square-foot, freestanding building with 14′ ceilings, executive offices, and one loading dock. It is located right in the heart of Hunt Valley, offering easy access to I-83. Media Star will occupy the entire property. The Maryland-based marketing company said that the acquisition of 318 Clubhouse Lane will allow it to consolidate its promotion and marketing base with its critical support divisions.
Photo credit: First Industrial Realty Trust