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Principal Financial Group Incorporated
Anne Arundel warehouse occupied by Under Armour sells for $26.5 million

An Iowa-based real estate investment group has closed on a 352,850-square-foot Anne Arundel County warehouse occupied by Under Armour. The building, located at 7629 Gambrills Cove Road and known as Brandon Woods II, fetched $26.475 million from buyer Principal Real Estate Investors, according to a news release from real estate services firm CBRE, which arranged the sale. The last arms-length sale of the property occurred in 2000, when the property sold for $20.5 million. “The Under Armour tenancy, Class A quality of the building, and proximity to the Port of Baltimore combined to make this asset a highly desirable offering for the Baltimore-Washington Corridor market. Merritt...