COLUMBIA, MD–CSG Partners of Windsor Mill has acquired a four-building office portfolio from Goldman Sachs for $30.1 million. The portfolio was 82% leased and traded at a high 7, low 8 all-in cap rate, according to Graham Savage of Cushman & Wakefield. Savage and Jonathan Carpenter represented the seller in the transaction.
“The pricing was fantastic for this market,” Savage tells GlobeSt.com. “We had a strong response for this value add opportunity. “The high 7s, low 8s for the cap rate and $140 per square foot is where you want to transact for this submarket.”
In general suburban office markets are experiencing a comeback in demand and Columbia is no exception. “It has great drivers such as Columbia Gateway and it provides good access for both the DC and Baltimore markets,” Savage said.
The four properties in the portfolio were located at 9801, 9821, 9841 and 9861 Broken Land Pkwy.
COLUMBIA, MD–CSG Partners of Windsor Mill has acquired a four-building office portfolio from
“The pricing was fantastic for this market,” Savage tells GlobeSt.com. “We had a strong response for this value add opportunity. “The high 7s, low 8s for the cap rate and $140 per square foot is where you want to transact for this submarket.”
In general suburban office markets are experiencing a comeback in demand and Columbia is no exception. “It has great drivers such as Columbia Gateway and it provides good access for both the DC and Baltimore markets,” Savage said.
The four properties in the portfolio were located at 9801, 9821, 9841 and 9861 Broken Land Pkwy.
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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.
