Federal Capital Partners® (FCP) has announced the $11.5 million acquisition of a 313,000 square foot industrial distribution facility one mile from the I-95 and I-695 interchange on Sulphur Spring Road just south of downtown Baltimore, MD. The facility recently underwent a $4 million renovation that included modernized dock areas, high efficiency lighting, a new roof, site asphalt and new security features. FCP will provide additional infrastructure improvements and has retained Cassidy Turley to lease the property.
“2209 Sulphur Spring offers one of the only existing large contiguous blocks of industrial warehouse space in the supply-constrained Baltimore market,” said FCP Vice President, Erik Weinberg. “FCP has planned additional site and building improvements to complement the recent renovation and to further enhance the facility’s position in the market.”
“Cassidy Turley is excited to be working with Federal Capital Partners and is focused on exposing 2209 Sulphur Spring Road to the Mid-Atlantic industrial market,” said Cassidy Turley Principal and Senior Vice President Jarred Testa. “2209 Sulphur Spring has many amenities that industrial users in the market desire, including ample trailer parking, secure access and outside storage.”
FCP extends its appreciation to Cris Abramson and Brian Kruger of Cushman Wakefield, who represented the seller in this transaction. Financing was provided by Eagle Bank.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $3.5 billion in assets since its founding in 1999. FCP is seeking equity, preferred equity and mezzanine debt investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Pennsylvania, Virginia, Delaware, West Virginia, New Jersey and the Carolinas. FCP buys assets directly as well as through joint ventures with local operating partners. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its second investment fund, a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com