May 7, 2020
The Mid-Atlantic Commerce Center, an 853,520-square-foot Class A industrial building at 7600 Assateague Dr. in Jessup, MD, has traded to an investment vehicle currently managed by Grandview Partners. A joint venture led by local operator Manekin was the seller in what was reportedly an $88-million deal as well as the largest-ever single-asset industrial sale by square footage in the Baltimore-Washington Corridor market.
An NKF capital markets team of Cris Abramson, Nicholas Signor and Ben McCarty facilitated the sale. The firm’s Brian Kruger provided leasing advisory services.
“This sale represented a rare opportunity for Grandview Partners to both enter the market and place a meaningful amount of value-add capital in an exceptional property with investment-grade tenancy,” said Abramson.
7600 Assateague is currently home to Walmart, Pepsi and ASR Group. NKF’s Kruger and Erik Evans have been hired to lease up the property’s remaining space.
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