July 26, 2017
Los Angeles-based Colony NorthStar acquired a 2.8-million-square-foot, 20-property industrial portfolio for $201 million from Boston-based TA Realty LLC, which sold the assets on behalf of The Realty Associates Fund VIII, L.P.
The industrial properties that comprise the portfolio are located along the I-95 corridor, from Maryland through Delaware, with the heaviest concentration of roughly 2.2 million square feet in the Baltimore area.
“This transaction speaks to the effectiveness of our aggregation strategy, having built a premier portfolio of industrial assets in strong trade corridors on the east coast,” said TA Realty’s Tom Landry. “The high quality of this portfolio, considering the strategic location of the assets and their strong recurring cash flows, attracted interest from a number of well-capitalized buyers.”
Cushman & Wakefield’s Jonathan Carpenter and Graham Savage represented TA Realty. The buyer was self-represented.
*Pictured 9060 Junction Drive, Annapolis Junction, MD
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