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BELCAMP, MD-Three years after having acquired the Harford Distribution Center for $12.8 million, BPG Properties Ltd. sells the 316,500-sf warehouse property to First Industrial Realty Trust's Net Lease Co-Investment Program. The center carries the address of 4622 Mercedes Dr. and sits on a 15-acre parcel near I-95 in Harford County.

The structure was developed in 1996 and, along with the land, has a current assessed value of approximately $12 million. The facility has been fully occupied by a single tenant since last November when cosmetics company Sephora USA Inc. expanded its lease at the property for its central distribution center. "This transaction is an excellent example of our investment strategy of adding value through proactive leasing and management of a high quality facility that is well positioned in a growing submarket," says BPG senior vice president Roy C. Perry.

Trammell Crow Co. served as the sole brokerage firm on the deal. The firm's Bruce Strasburg, David Baird and Marc Rampulla orchestrated the securing of a buyer.