A Carroll County distribution center used by Solo Cup has sold for $44 million, a broker involved in the sale said Wednesday.
Solo Cup will remain the sole tenant in the 1-million-square-foot warehouse on Hanover Pike in Hampstead, said Jonathan M. Carpenter, a managing director with Cassidy Turley, which represented seller Hampshire Cos. of Morristown, N.J. The sale to Boston-based STAG Industrial Management LLC, a real estate investment trust, closed earlier this month.
Carpenter said the property went on the market in April and generated significant interest among potential buyers, part of the increasing interest that real estate investors have shown in large industrial properties over the last couple of years.
Solo Cup, maker of plastic, paper and foam plates, bowls, cups and containers, had closed a distribution center in Havre de Grace to consolidate operations in the Hampstead facility, which serves the northeastern U.S.Copyright © 2014, The Baltimore Sun