September 28, 2018
Hanover, MD – Transwestern today announces it brokered the disposition of Parkway Industrial, a nine-building, 711,220-square-foot industrial portfolio in Hanover, Maryland, to Rialto for an undisclosed price. Mark Glagola and Gerry Trainor of Transwestern’s Mid-Atlantic Capital Markets Group represented the seller, a confidential global investment manager.
“The Baltimore-Washington Corridor is severely supply-constrained for infill industrial product, with well-located, older product being redeveloped for other uses as the economy continues to recover,” said Glagola.
“Parkway Industrial offered a rare opportunity to acquire a well-located, institutional-quality portfolio,” he continued. ”The park is 95 percent occupied by a strong mix of tenants, including Lockheed Martin, AT&T and Sprint, that benefit from the park’s proximity to Fort Meade and an embedded telecom operations infrastructure that is very difficult to relocate.”
Fort Meade is home to the headquarters of the National Security Agency (NSA), the U.S. Cyber Command and the Defense Information Systems Agency, which have contributed to significant job growth in the Baltimore-Washington Corridor.
The location offers easy access to Interstates 95 and 97 and the Baltimore Washington Parkway. The portfolio includes the following properties: 7222 Parkway Drive; 7100, 7115, 7121, 7150, 7170 and 7200 Standard Drive; and 7267 and 7270 Park Circle Drive.
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Occupier Solutions, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern.