News
GOOD MEDICINE
December 2, 2010
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| This looks more like a gingerbread house than a medical building, but maybe we're just in the holiday spirit. Kimco sold Orchard Square to Corinthian Realty in a deal brokered by Cassidy Turley's Jon Carpenter and Jay Wellschlage r. The duo has closed $50M worth of deals this year (another $115M are under contract). The 28K SF medical building went for $2.7M with $350k dedicated to renovations. |
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| Jon says that while investors prefer core properties to value-add opportunities, he expects to see growth in submarkets with improving fundamentals in markets like Ft. Meade. The B-W corridor is also one of the strongest industrial sales markets in the nation, he tells us, with some properties receiving up to 20 bids, all from institutional core buyers. |
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| If Jon from Cassidy wasn't convincing enough, CBRE's Bo Cashman and Jonathan Beard brokered the sale of a 99K SF industrial-flex complex to ING Clarion for $12.3M today. The two Hanover buildings (7449 and 7455 Race Rd) are 78% leased with great access to major transportation arteries. No wonder Bo says the investment market has come to life. |
