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E-commerce company purchases $91 million distribution hub in BWI industrial park

Techwood Business Center is a six-building collection that sold for nearly $91 million. Cushman & Wakefield, who represented the seller, made the deal public in April but declined to disclose the name of the buyer, an e-commerce company.
Techwood Business Center is a six-building collection that sold for nearly $91 million. Cushman & Wakefield, who represented the seller, made the deal public in April but declined to disclose the name of the buyer, an e-commerce company. (Cushman & Wakefield)

An e-commerce company has purchased a six-building portfolio in an industrial park located adjacent to BWI Thurgood Marshall Airport in Hanover for $90.5 million, announced Cushman & Wakefield, which negotiated the sale.

The distribution buildings are located in Baltimore Commons Business Park’s Techwood Business Center off New Ridge Road.

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Representatives of the real estate brokerage declined to identify the buyer, but the size of the purchase suggests a large company on the scale of Amazon, which already occupies one of the buildings for its Amazon Flex last-mile delivery service.

Amazon has been expanding rapidly in Maryland for several years, but the new coronavirus has turbocharged that growth due to skyrocketing demand for online shopping. The company already has added 3,000 employees in the state during the outbreak and plans to hire as many as 3,000 more, part of 75,000 additional jobs that Amazon plans to fill across the United States.

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Amazon is taking over air transportation and trucking operations at BWI from its longtime contractor Pinnacle Logistics, not far from the new buildings acquired by the e-commerce company. After Pinnacle notified the state in January that it would lay of 1,600 workers there this spring, Amazon said it would rehire the hourly workers for its operation.

In a statement, Amazon spokeswoman Rachael Lighty said Amazon typically does not comment on its specific plans related to its expansion.

Amazon is a dynamic business and we are constantly exploring new locations and weighing a variety of factors when deciding where to develop future sites to best serve customers, however, we have a policy of not commenting on our future roadmap and are not yet commenting on any specific operations plans in Maryland," she said. "Stay tuned!”

Amazon operates fulfillment centers at Tradepoint Atlantic in eastern Baltimore County, on Broening Highway in Baltimore and in North East, as well as a sorting center and a Prime Now hub.

Jonathan M. Carpenter, executive managing director of Cushman & Wakefield’s Baltimore capital markets team, said in a statement that the e-commerce company secured the deal for the buildings in “an extremely competitive sales process due to their strategic interest” in the business park and the region.

“This generational industrial offering received tremendous interest from national and international investors,” he said.

Cushman & Wakefield noted the industrial park’s strategic location next to the airport as well as Interstates 95 and 97 and the Baltimore Washington Parkway. Other tenants include Coca-Cola, retailer DTLR’s headquarters and smaller businesses.

Together, the six buildings make up 648,173 square feet of space.

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