Business & Tech
Business Parkway Building Changes Hands
The industrial building at 6600 Business Pkwy. in Elkridge was part of a $35.3 million transaction.
A building on Business Parkway in Elkridge was one of several involved in a recent $35.3 million sale, according to the Baltimore Business Journal.
Real estate investment firm Cabot Properties of Boston bought five industrial buildings in a portfolio that included three on Sandy Court in Jessup, one on Gerwig Lane in Columbia and the property at 6600 Business Pkwy. in Elkridge.
The seller was Atlanta-based management company Invesco.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Transwestern, a commercial investment firm, will manage the properties.
According to real estate news publication GlobeSt.com, the five-building portfolio has a 35 percent vacancy rate, which Cabot plans to rectify by leasing through an "aggressive marketing program."
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
The tenant at the Elkridge building is a specialist in kitchen and bathroom remodeling.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
