Transwestern represents global investment manager in disposition
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.