Northbridge Partners Acquires 123,000 SF Industrial Property In Beltsville For $15.5M

The James A. Cassidy Building, a 123,000-square-foot warehouse facility located at 12100 Baltimore Ave in Beltsville, Md., was acquired by Northbridge Partners for $15.5 million. The property, built in 1983, sits on 7 acres and boasts 24-foot ceiling heights, dock, and grade-level doors. At the time of sale, the warehouse was fully occupied by tenants such as Ambius, Cheney Flashings, and Pella Mid-Atlantic.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $15,500,000.00
• Market: Beltsville
• Address: 12100 Baltimore Ave, Beltsville, MD

The deal was brokered by Steven Weiss from NAI Capital and Tom Whelan from Lee & Associates. NorthBridge Partners, making their first acquisition in the Baltimore-Washington D.C. industrial market, purchased the property below replacement cost. The local industrial market's growth is driven by high demand from logistics and local companies, as highlighted by Weiss in a press statement.