Apparel Distribution Center Sells for $10M

PASADENA, MD-Apparel manufacturer FILA USA has found a new owner for its 353,000-sf warehouse, courtesy of a recent $10.3 million deal. The clothing company sold the industrial structure, which it developed five years ago to serve as one of its distribution centers, to Merritt Properties. The building was vacant at the time of the sale. Located in the Brandon Wood Industrial Park at 7629 Gambrills Cove Rd., the property also features surface parking to accommodate up to 130 vehicles.

Real estate services firm CB Richard Ellis represented FILA in the transaction and has now been tapped by the new owner to serve as the property’s leasing team. “The Baltimore area continues to be a very attractive place for investors and even an empty building like the FILA Building will catch attention of global real estate investors,” CBRE Investment Properties senior vice president Bo Cashman says. “We received 18 solid offers before accepting Merritt Properties’ very strong offer.” CBRE is currently marketing space at the locale for $4.50 per sf.