DC-Based Investor Buys Industrial Warehouse in Baltimore
The Goldstar Group has purchased a 86,234-square-foot industrial warehouse near the Port of Baltimore, according to CBRE’s Jonathan Beard who represented the seller with CBRE’s Justin Mohler.
Beard told Commercial Observer that the D.C.-based commercial real estate investment firm acquired 1821 Portal Street from Ceres-Baltimore, LLC for $7.6 million. The property is fully leased with a Johns Hopkins Bayview Medical Center clinic occupying 23,650 square feet and wine and spirits distributor Bacchus Imports leasing the remaining 62,584 square feet.
Goldstar Group CEO Michael Brodsky, who did not return CO’s request for comment, said in a statement reported by the Washington Business Journal that the purchase is part of the firm’s plan to expand in the region. “High-quality industrial space in Baltimore City remains at a premium with end-users attracted to the Port of Baltimore’s nearby manufacturing operations,” Brodsky said, according to the publication.
In addition to multiple residential properties in the D.C. region, The Goldstar Group owns office buildings in Montgomery and Prince George’s County, Md. and an industrial space in Manassas, Va., according to the company website.