Boston-based real estate investment and management company, Grander Capital Partners, has purchased a two building flex/warehouse asset in the Abingdon section of Harford County, Maryland. The 51,600 sqf building at 1305 Governor Court traded hands for $3.25 million or just under $63 per sqf. Built in 1987 the property features bays suitable for manufacturing, warehouse or office uses, and 16 loading docks and a parking field. The acquisition represents GCP’s first Maryland acquisition, though it owns several other office and industrial buildings throughout the Mid-Atlantic and Northeast. At the time of closing the asset was 87 percent leased.
“Our research indicates consistent tenant demand for this product type in the Maryland area, and this asset satisfied each criteria we require in our acquisition strategy including a strategic location and immediate access to major highway infrastructure,” explained Jeff Clary, Partner with Grander Capital Partners who resides in and runs the Maryland office for Grander Capital Partners. “Our team tracks activity throughout a number of Mid-Atlantic markets, and we are consistently attracted to the high velocity of transactions here.”
