The Patuxent Commerce Center in Jessup, MD has been sold to Los Angeles-based Colony Financial for $17.625 million. The 2-building, 200,000 sqf industrial complex was 100 percent leased at the time of the sale to six tenants. The seller, Deutsche Asset & Wealth Management, was represented by Cushman & Wakefield Baltimore Capital Markets. “The sale process for Patuxent Commerce Center was exceptionally competitive, as the capital markets are tremendously receptive to functional, well-located industrial property in the Baltimore-Washington Corridor,” said Graham Savage of Cushman & Wakefield. “Competition among buyers is what drives our ability to provide clients with smooth and effective disposition processes.”
