Trout Daniel & Associates Announces Sale of Port Liberty Industrial Center
A 91,175 Square Foot “RO-RO” Property on 12.31 (+/-) Acres in Fairfield, Baltimore, MD
BALTIMORE – Trout Daniel & Associates, a full-service commercial real estate firm, is pleased to announce the sale of 1870 & 1900 Frankfurst Avenue, a combined 91,175 square foot industrial “RO-RO” property in the Fairfield industrial submarket in Baltimore, Maryland. Steven Cornblatt and Jared Engel of TD&A brokered the sale, representing the Seller, WFP-Port Liberty LLC, in the transaction.
The properties, which sit contiguous to one another and total 12.31 acres, are improved by the (+/-) 41,275 square foot “Buffalo Tank” Building, and the (+/-) 49,900 square foot “Liberty Ship” Building. Additionally, the site’s ease of access to I-895 and the Port of Baltimore, heavy infrastructure, rail access and extensive paved outdoor storage area is exceptional in that it affords RO-RO users the rarely available, yet highly sought-after, low F-A-R properties.
The properties were at one time used to manufacture Liberty Ships to transport cargo in the Allies’ World War II efforts. WFP-Port Liberty LLC purchased the Properties in 2003, and with the help of TD&A, shortly thereafter executed a long-term Lease with Amports, who remained a Tenant at the site until this past July. With Amports’ lease termination on the horizon, several investors came forward with interest to acquire the project, and the site was ultimately sold to the New York-based Criterion Group for $7,000,000.
Cornblatt states, “There was interest from day one, and eventually there were several parties vying for the opportunity. The convenient location to I-895 and the Port of Baltimore, rail access plus the abundance of outdoor storage area for the “Roll on – Roll off” vehicle shipping business were vital features to all parties with interest in acquiring the properties.”
About Trout Daniel & Associates:
Trout Daniel & Associates is a full-service commercial real estate brokerage serving businesses throughout the mid-Atlantic and beyond. The firm takes a highly-customizable approach to providing a full range of commercial real estate services, including brokerage, development, consulting and management to the retail, office, industrial, multi-family and investment market segments. For more information, call: (410) 435-4004 or visit: www.troutdaniel.com.