12200 Baltimore Avenue
The management division of Edge, a full-service commercial real estate firm with offices in Washington D.C., Virginia, Maryland and Pennsylvania, has been selected to provide full-service property management and engineering services for two properties located in suburban Maryland. The assets are 12200 Baltimore Avenue, a 106,000 square foot high bay warehouse and commercial office building situated in Beltsville and 202 Mason Drive, a single-story industrial building located in Rockville. Christina Martin, Director of Property Management will oversee the property management team and Shaun Comer, Director of Engineering will direct the facilities and engineering team for both requirements.
Both buildings were recently sold, with the respective sellers represented by Joe Friedman, Partner, Edge Capital Markets, who also procured the buyer for each asset, a 1031 exchange investor represented by Mid-Pacific Advisors.
12200 Baltimore Avenue, located directly off Interstate 95 and the Intercounty Connector (MD Route 200), features roadside visibility from MD Route 1 and is surrounded by a free surface parking lot that can accommodate 250 vehicles. The building is 97% leased to three tenants and was originally constructed as a design/build to function as the corporate headquarters for Ritz Camera.
202 Mason Drive
202 Mason Drive is 100% occupied by Tesla Body Repair Center. Featuring 25-foot ceiling heights, the asset is within close proximity to MD Routes 355 and 28 in the northeast section of Rockville.
“The new owner is located out-of-town and was particularly interested in selecting a property management service provider with a critical mass of properties in the suburban Maryland region,” explained Christina Martin, Director of Property Management for Edge Property Services Group. “This group is also extremely comfortable with the Edge full-service philosophy as our team became extremely familiar with both assets during the acquisition process. The buyer also embraced our ability to leverage resources, technology and buying power to provide proactive asset management services.”
Edge is a commercial real estate firm providing a full complement of advisory, leasing, investment sales, management, construction, property management and engineering services to clients throughout the Washington, D.C., Maryland, Northern Virginia, and Pennsylvania marketplaces. Founded in 2007, the company currently leases and manages more than 8.5 million square feet of commercial office, flex/office, industrial/warehouse, retail and mixed-use space. Visit www.edgecre.com.