Rosenthal Properties, a commercial management, leasing and investment firm has completed the sale of a 111,000 square foot warehouse in Frederick, Maryland to an institutional investor for $15.4 million.
The 24-foot clear, multi-tenant warehouse is situated along Interstate-70 which provides tremendous visibility and access. The tenants include United Refrigeration, Frederick Volleyball Club, AFAB Labs and Colonial Door & Sash. “During our ownership period, our team was able to successfully reposition the asset and stabilize the tenancy,” says Glenn Rosenthal, President of Rosenthal Properties. “The new owner will enjoy a well-located asset as the industrial sector continues to see record demand.”
Cristopher Abramson, Ben McCarty and Nicholas Signor of Newmark represented Rosenthal Properties on the transaction. Frederick Klein of DLA Piper LLP provided legal counsel to Rosenthal Properties.
About Rosenthal Properties:
Founded in 1999 by Glenn Rosenthal, Rosenthal Properties is regarded as one of the Mid Atlantic area’s most reputable, fully integrated commercial real estate firms. Rosenthal Properties offers its clients a full range of services, including property management, leasing, and construction management. Rosenthal Properties owns, leases, and / or manages a portfolio of approximately 8 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, DC, both with its own capital and in partnerships with respected institutional investors. For additional information on the full scope of Rosenthal Properties’ services, visit www.rosenthalproperties.com.
