Newmark announces the sale of 40 Wight Avenue, a 132,207-square-foot Class A trophy office building in Hunt Valley, Maryland.
Executive Managing Director Cris Abramson, Director Nicholas Signor and Associate Director Ben McCarty of Newmark’s Maryland Capital Markets team facilitated the sale. The transaction is the team’s fifth office sale in Hunt Valley in the past 12 months for a total of more than $144 million in value.
“This sale represented a very rare opportunity for an investor to buy a best-in-class, trophy office building with stable, long-term cash flow in a thriving submarket in the Baltimore region,” said Abramson.
Built in 2017, the five-story, 40 Wight Avenue is currently home to engineering firm JMT.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 18,000 professionals operate from approximately 480 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
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