(To read more on the industrial market, click here.)
BALTIMORE-ProLogis has purchased a 109,000-sf industrial facility in Glen Burnie for $9.5 million from the Osprey Property Group LLC. Located at Park 100, the vacant building is approximately five miles east of the Baltimore/Washington International (BWI) Airport.
The facility, which is based on nine acres of land, will be marketed to retailers, manufacturers, logistics providers and other companies, the company says in a statement. "We continue to see strong demand for industrial property near the airport, an ideal location for warehousing and distribution operations," says Mark Levy, vice president and Baltimore/Washington DC market officer. "Significant development activity in this area has limited the availability of buildable land and increased the attractiveness of existing facilities.
The acquisition brings ProLogis' total platform in the Baltimore/Washington DC market to more than six million sf.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
