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Whitehall Sells Newly Renovated Industrial Property one Year After Purchase

HANOVER, MD-New Jersey's Whitehall Industrial Properties sells the warehouse/office building at 521 McCormick Dr. Whitehall acquired the building in 2000 and began major renovations soon after.

By Barbra Murray | Updated on December 11, 2001

HANOVER, MD-A year after purchasing the building at 521 McCormick Dr. from Michigan music supplier Handleman Co., Edison, NJ-based Whitehall Industrial Properties, LLC has sold the property. Whitehall completely renovated the 112,415-sf office and warehouse facility, located in Anne Arundel County, a short time after the acquisition. Buyer and sale price remain undisclosed.

“With the sale of 521 McCormick Drive, Whitehall Industrial Properties was able to achieve our investment and value creation objectives,” Whitehall Senior Vice President Mark McConnell says in a statement. “We are pleased to have met our goals and look forward to re-deploying this capital into the Baltimore marketplace.” The building sits just south of the Baltimore-Washington International Airport and is fully leased by telecommunications company Ciena, which signed a 10-year lease of the entire structure in March.

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