The Goldstar Group has picked up an industrial warehouse building located on Portal Street in Baltimore for $7.6 million. Totaling 86,236 square feet, the building is 100 percent leased to Johns Hopkins Bayview Medical Center (23,650 sqf) and Bacchus Imports (62,584 sqf). The asset is adjacent to the Dundalk and SeaGirt Marine Terminals and the Intermodal Container Transfer Facility at the Port of Baltimore. Constructed in 1986, the asset changed hands for just over $88 per square foot. CBRE represented the seller in this transaction.“
This investment-grade asset will provide immediate long-term cash yields to our investor group, and we believe 1821 Portal Street contains every key fundamental to continue to increase in value throughout our ownership,” stated Michael Brodsky, CEO, The Goldstar Group. “High-quality industrial space in Baltimore City remains at a premium with end-users attracted to the Port of Baltimore’s nearby manufacturing operations.”
