10:23 AM EST, January 14, 2013
Colliers International in Baltimore, a full-service commercial real estate firm, on behalf of Multi Properties Inc., brokered a portfolio sale of three properties totaling 80,400 square feet in Harford County to Goodier Baker LLC, a Maryland-based real estate development company. The total sale price was $6.2 million.
The class B flex buildings in Edgewood and Bel Air were 95 percent leased at the time of sale. The Edgewood industrial buildings at 2113 Columbia Park Drive and 2111 Emmorton Park Road total 60,000 square feet, while the Bel Air flex building at 201 Gateway Drive covers 20,400 square feet.
"We're pleased to see growing interest in value-add class B buildings in a market where trophy class A has been most in demand. The I-95 corridor and Harford County market characteristics make this an exciting long-term opportunity for Goodier Baker LLC," David Dannenfelser, managing director and principal for Colliers-Baltimore said.
David Dannenfelser and Matthew Haas, with Colliers-Baltimore brokered the transaction, and Brad Berzins at KLNB represented Goodier Baker LLC. Colliers-Baltimore will maintain leasing within the portfolio.
"This type of property — with its level of access and type of tenants — has performed well throughout the downturn, but looks to perform even better as we come out of the recession," Dan Goodier, president of the commercial properties division for Goodier Baker LLC, said. "The I-95 corridor in Harford County is an attractive market for many businesses, and this transaction highlights that fact."
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