April 9, 2020
GLL Real Estate Partners has acquired Brandon Woods III, a two-building, 840,000-square-foot industrial complex in the Baltimore suburb of Glen Burnie, MD. The Munich-based buyer, a subsidiary of Macquarie Infrastructure and Real Assets, reportedly paid $90 million to acquire the property, which also includes two land parcels, from Chesapeake Real Estate Group LLC (CREG) and EverWest Real Estate Investors.
Within the complex, the 500,00-square-foot 7550 Perryman Ct. is fully leased to Best Buy. The 340,000-square-foot 7659 Solley Rd. was recently delivered.
“Brandon Woods III further increases our allocation to our best-in-class U.S. industrial real estate portfolio that currently consists of 2.4 million square feet of Class A space in supply-constrained markets,” said Christian Goebel, EVP at GLL. “We are excited to work with CREG on the lease-up business plan for 7659 Solley Rd. and together we will explore development options for the two remaining land parcels to meet market demand.”
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