white marsh - jll · the portfolio consists of three properties: • 6210 days cove road - a 60,000...
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WHITE MARSHB U S I N E S S P A R K
I N V E S T M E N T O F F E R I N G
EXECUTIVE SUMMARYJLL’s Capital Markets is pleased to present for sale the White Marsh Business Park, a 57.6% leased value-add Class A industrial portfolio with additional development capacity in the Northern I-95 Corridor market of Baltimore. The portfolio consists of three properties:
• 6210 Days Cove Road - A 60,000 square foot building built in 2016 with development approvals to expand by another 52,000 square feet. Pepsi (Nasdaq: PEP) leases more than half of this building on a long term lease through September 2026.
• 6200 Days Cove Road - Four condo units within a 131,200 condominium building that delivered in 2007.
• Retail Land Parcel – A ~1.5 acre retail parcel with Route 40 frontage and approx. 30,000 average daily traffic
Rare CLASS A concrete tilt-wall
industrial offering. PROJECTED TENANT RETENTION - Pepsi relocated to the building from a long time Baltimore City location. Part of their
attraction to the building was its unique and irreplaceable ability to provide ample trailer parking. They presently utilize 55 trailer drops within a fenced area, in addition to the loading positions.UPSIDE POTENTIAL
through lease up and development.
Optionality in exit strategy, with
individual condo units in the park selling for
as HIGH AS $120 PSF.
WHITE MARSHB U S I N E S S P A R K
2 | ExEcUtIvE SUmmARy
95MARYLAND
43Three miles from the Route 43 interchange
with Interstate 95.
INSTITUTIONAL MICRO-MARKET, with Prudential, Global Logistics Properties, Principal, Blackcreek, First Industrial, and Deutsche Asset Wealth Management all
represented in the proximate ownership, in addition to major regional developers and owners.
Control over the MASTER ASSOCIATION CONDOMINIUM REGIME.
Northern I-95 Corridor Class A OCCUPANCY
EXCEEDING 96% with 5.2 million square feet of positive absorption
in 2017 and rental rate growth exceeding
market wide levels.
IMPROVEMENTS SUMMARY
ADDRESS 6210 DAYS COVE ROAD 6200 DAYS COVE ROADYEAR BUILT 2016 2007RENTABLE AREA 60,000 SF with development approvals for additional 56,500 SF 30,109 SF, representing 4 of the building’s 16 units.CONSTRUCTION TYPE concrete tilt-wall concrete tilt-wallSPRINKLER ESFR ESFRCOLUMN SPACING 45' × 40' 45' × 40'SITE SIZE 7.8754 acres 6.7612 acresCLEAR HEIGHT 24' 24"DOCK DOORS/DRIVE INS 10 Docks and 2 Drive Ins 4 Docks and 1 Drive InPARKING SPACES (PER 1,000 SF) 120 (2/1,000) 250 spaces (1.91/1,000)PERCENT LEASED 57.02% 58.9%Note that the portfolio is offered in its entirety, but seller will review offers on 6210 Days Cove Road individually, exclusive of the condos and retail areas.
ExEcUtIvE SUmmARy | 3
6200 DAYS COVE ROAD
6210 DAYS COVE ROAD
RETAIL PAD
EXPANSION40
TRANSACTION LEADS LEASING ADVISOR DEBT ADVISORJAY WELLSCHLAGERmanaging Director+1 443 452 [email protected]
MARK LEVYExecutive managing Director+1 703 891 [email protected]
MARC RAMPULLAExecutive vice President+1 202 719 [email protected]
ELIZABETH RUNGEFinancial Analyst+ 1 443 931 [email protected]
DAVID A. DANNENFELSERmanaging Director+1 443 297 [email protected]
TYLER BOYKINvice President+1 443 451 [email protected]
TREVOR CAMPBELLvice President+1 202 719 [email protected]
WHITE MARSHB U S I N E S S P A R K
DISCLAIMERThis Brochure is provided for the sole purpose of allowing a potential investor to evaluate whether there is interest in proceeding with further discussions regarding a possible purchase of or investment in White Marsh Business Park, White Marsh, MD (the “Property”) on an “as-is, where-is” condition. The potential investor is urged to perform its own examination and inspection of the Property and information relating to same, and shall rely solely on such examination and investigation and not on the Brochure or any materials, statements or information contained herein or otherwise provided.
Neither Jones Lang LaSalle, nor any of its partners, directors, officers, employees and agents (“Sales Agent”), not the Owner, its partners/members, Property Management or any of their directors, officers, employees and agents (“Owner”), makes any representations or warranties, whether expressed or implied, by operation of law or otherwise, with respect to this Brochure or the Property or any materials, statements, (including financial statements and projections) or information contained herein or relating thereto, or as to the accuracy or completeness of such materials, statements or information, or as to the condition, quality or fitness of the Property, or assumes any responsibility with respect thereto. Such materials, statements and information have in many circumstances been obtained from outside sources, and have not been tested or verified, Projections, in particular, are based on various assumptions and subjective determinations as to which no guaranty or assurance can be given.
This Brochure is provided subject to errors, omissions, prior sale or lease, change of price or terms and other changes to the materials, statements and information contained herein or relating to the Property, and is subject to withdrawal and modification, all without notice. Owner has no legal commitment or obligation to potential investor until such time as a purchase contract is executed by both parties. The contents hereof are highly confidential are subject to the Confidentiality Agreement previously executed by the potential investor and are not to be reproduced or distributed to any person or entity without the prior written consent of Sales Agent and Owner or used for any purpose other than initial evaluation as indicated above.