BALTIMORE, MD – The O'Donnell Group has sold a fully-leased, 313,000-square-foot infill warehouse in Baltimore, MD to the foreign investor, Aminim Group.
JLL capital markets marketed the property and arranged the sale on behalf of the O'Donnell Group. JLL additionally secured the acquisition financing on behalf of the new owner.
Located at 2209 Sulphur Spring Rd., the warehouse is situated in an Enterprise Zone, near Interstate 95 and Interstate 695, at the northern end of the Baltimore-Washington corridor.
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The fully-leased warehouse is currently tenanted by occupants, Liberty Tire Recycling and Indusco Wire Rope and Fittings.
The warehouse features one acre of fenced storage, 35 loading docks, heavy power, security and the potential for 56 trailer drops.
The property has received $6.5 million in capital improvements since 2013. Improvements include a new roof, T5 and LED lighting, dock seals, 35,000-pound levers, façade accents, added loading positions, asphalt, new storefronts, and two new bridges to improve access over a stream on the property.
JLL's senior director, Paul Spellman secured the loan on behalf of the new owner.
Representing the seller, was the JLL capital markets team of managing director, Jay Wellschlager, senior managing director, Bruce Strasburg, director, Craig Childs and analyst, Elizabeth Runge. The team was assisted by the building's leasing team of Dave Dannenfelser and Tyler Boykin.
Upon purchasing the property in late-2017 with a pending full building vacancy, the O'Donnell Group retained Dannenfelser and Boykin of JLL Agency Leasing to lease the property. Within 12 months, the team fully-leased the vacant warehouse with an average lease term of more than seven years.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
