Owner Occupant Investment Interest Continues to Energize a Maturing Market
Baltimore, Maryland, September 2, 2015 – CBRE arranged the sale of 318 Clubhouse Lane; a 30,000-square-foot, flex use, property in Hunt Valley, Maryland. First Industrial Realty Trust, Inc. sold the property to Media Star Promotions for an undisclosed price. CBRE’s Alan Grace, Ketch Secor, and Ryan Engles brokered the sale.
“The offering received a great deal of interest demonstrating high-demand among companies looking for long-term equity creation via owner-occupied opportunities,” said Ketch Secor, CBRE First Vice President.
According to the Maryland-based marketing company, Media Star Promotions, the acquisition of 318 Clubhouse Lane will allow MSP to consolidate its promotion and marketing base with its critical support divisions, including its Design Studio, Lighting Department, and Video Department. The company will occupy the entire building.
“The flex market has experienced an influx of end-users employing a strategy to acquire high quality, well-located, properties throughout the Mid-Atlantic region, and CBRE research suggests strong growth projections for the region,” said Alan Grace, CBRE Vice President.
Located in the heart of Hunt Valley, the freestanding building has 14' ceilings, executive offices, one loading dock with additional dock positions available, and building signage availability. The property offers easy access to I-83 allowing Media Star Promotions to efficiently service surrounding areas.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.