BALTIMORE, MD—Blue Ocean recently leased 133,520 square feet of its 692,492-square-foot manufacturing and distribution center at 1954 Halethorpe Farms Rd. to Barker Steel Mid-Atlantic with the assistance of commercial real estate firm Trout Daniel & Associates.
Located off I-95 and I-695 between Washington, DC and Baltimore, Maryland, the property's heavy infrastructure, high clear height, and broad column spacing create the ideal space for businesses like Barker Steel Mid-Atlantic that involve large block manufacturing, as well as other distribution uses, according to a prepared release.
Jared Engel and Steve Cornblatt of Trout Daniel & Associates represented Blue Ocean in the transaction. Toby Mink of CBRE represented Barker Steel Mid-Atlantic.
Purchased in 2015 by Blue Ocean, the property is historically significant, in that it was used at one-time to manufacture aircraft components for the Allies' efforts in World War II, the release says. After making improvements to the distribution center, Blue Ocean implemented a creative leasing program that highlights their in-house, "hands-on"' management approach.
Jonathan Ehrenfeld, President and CEO of Blue Ocean states, "We work to create exceptional value wherever possible – to our tenants, team members, and partners. In this case, we were fortunate to have been able to deliver a compelling package for Barker Steel that checked all of their boxes. Their presence will enhance an already diverse and vibrant environment at our Halethorpe industrial complex."
Founded in 2004, Blue Ocean is a real estate investment, development and management company headquartered in Maryland. Blue Ocean is active in a variety of sectors within the real estate industry including multifamily, industrial, hospitality, retail, office, self-storage sectors. Today, the Blue Ocean portfolio consists of 3,000 multifamily units and over 3 million square feet of commercial and mixed-use properties.
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