BALTIMORE – JLL Capital Markets has secured acquisition financing for a fully leased 313,000 square foot infill warehouse located at 2209 Sulfur Spring Road in Baltimore, near Interstates 95 and 695. Jay Wellschlager, Bruce Strasburg, Craig Childs and Elizabeth Runge from JLL represented the seller, The O’Donnell Group, in the transaction. JLL’s Paul Spellman secured acquisition financing on behalf of the new owner, Aminim Group. The property price was not disclosed.
The property is located eight miles from the Baltimore / Washington Thurgood International Airport and features approximately 1 acre of fenced storage, high performance, security, 35 loading bays and the potential for 56 trailer falls. The tenants of the industrial facility include Liberty Tire Recycling and Indusco Wire Rope & Fittings. As of 2013, the property has received approximately $ 6.5 million in capital improvements, including a new roof, T5 and LED lighting, dock seals, £ 35,000 levers, facade accents, and two new bridges.
In 2018, the O’Donnell Group reached out to Dave Dannenfelser and Tyler Boykin of JLL to rent out the property they acquired in December 2017 with an outstanding vacancy. Within 12 months, the team fully utilized the vacant warehouse with an average rental period of more than seven years.
The O’Donnell Group is a real estate development company based in Newport Beach, California. Aminim Group is a private boutique commercial real estate investment company based in Jerusalem, Israel.