The tableware manufacturer had left the warehouse vacant following its 2004 relocation to a new 500,000-sf property in Hagerstown's nearby Hunters Green Industrial Park. For BPG, the purchase allows the company to make its debut in the coveted Hagertsown Industrial Market, where the likes of Atlanta-based Home Depot chose to open a 450,000-sf distribution center and then expand into the entire 820,000-sf facility in January.

Nashville-headquartered Tractor Supply Co., the largest retail farm supply store chain in the US, opened a new 482,000-sf distribution center in the area at Crossroads Corporate Center. The Hagerstown region continues to be a desirable spot due to its proximity to Interstate 81 and Interstate 70, as well as its centralized location just 45 miles from Baltimore and Washington, DC, and within three hours of such frequented destinations as Philadelphia, Pittsburgh and Richmond, VA.

BPG's interest in the Hagerstown Distribution Center, however, extends beyond the property's highly sought after geographical position. "The acquisition of 16604 Industrial Blvd. offers a strong value added opportunity," says BPG's George Haines. "As a corporate developed and owned building, 16604 Industrial Blvd. has never been marketed or controlled by a real estate operator; as such, we have the opportunity to increase value by actively marketing the property and its expansion potential."