8:30 AM
Newmark Capital Markets today announced the sale of The Columbia portfolio, a group of nine single-story office buildings located in Columbia, Maryland. Adler Real Estate Partners purchased the 224,644-square-foot portfolio.
Executive Managing Director Cris Abramson, Senior Managing Director Brian Kruger, Director Nicholas Signor and Associate Ben McCarty of Newmark Capital Markets facilitated the sale.
“Institutional interest was strong for the portfolio due to its location at the mid-point between Washington, DC and Baltimore,” said Abramson. “During the first half of 2018, we have seen a push from both institutions and local players for single story office options along the Baltimore-Washington Corridor.”
The Columbia portfolio consists of three business parks totaling 224,644 square feet in nine buildings. At 85 percent leased, the portfolio provides strong in-place cash flow. Situated in the heart of Columbia, the portfolio has direct access to Route 32, Route 29 and I-95. The portfolio includes:
- 9710 Patuxent Woods Drive, Columbia, MD
- 9720 Patuxent Woods Drive, Columbia, MD
- 9730 Patuxent Woods Drive, Columbia, MD
- 9140 Guilford Road, Columbia, MD
- 9150 Guilford Road, Columbia, MD
- 9160 Guilford Road, Columbia, MD
- 10270 Old Columbia Road, Columbia, MD
- 10280 Old Columbia Road, Columbia, MD
- 10290 Old Columbia Road, Columbia, MD
About Newmark Capital Markets
Newmark Capital Markets, operated by Newmark Group, Inc., is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, our 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
We provide access to a wide range of services, including asset sales, sale leasebacks, mortgage and entity-level financing, equity raising, underwriting and due diligence. The transactions we broker involve vacant land, new real estate developments and existing buildings. We specialize in arranging financing for most types of value-added commercial real estate, including land, condominium conversions, subdivisions, office, retail, industrial, multifamily, student housing, hotels, data center, healthcare, self-storage and special use. For further information, visit www.ngkf.com/capitalmarkets.
Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”, is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s and BGC’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.