Hospitality Properties Trust Buys $25M Center

JESSUP, MD-The TA Baltimore South Travel Center No. 151 here has been sold for $24.9 million. The 20.2-acre complex, consisting of travel center and service station with a 110-room hotel, full-service restaurant and travel store operating under a triple-net lease, was sold at a cap rate of between 6% and 7%.

The buyer of the commercial-truck plaza was Hospitality Properties Trust, a Newton, MA-based REIT. The seller was a private investor represented by Michael Early, a senior broker in the Williamsburg office of Marcus & Millichap Real Estate Investment Services, Timothy Phillips, an investment specialist in the firm’s Baltimore office and Matthew Greenspon, an investment specialist in the Charlotte Uptown office.