The US-based real estate investment advisor arm of global asset manager Sagard has acquired a $91m (鈧�78.8m) distribution facility in Maryland.
Sagard Real Estate (SRE) has bought the 621,144sqft 7001 Quad Avenue asset in Rosedale from an unnamed seller.
The fully-let, 32-acre cross-dock facility is situated in Baltimore County East and was completed in 2004.
Belah Terentjev, director, acquisitions at Sagard Real Estate, said: 鈥淭his large-scale logistics asset would be difficult to replicate in an infill port market.
鈥淭he building鈥檚 cross-dock design, loading capacity and trailer parking support high-throughput operations, while access to the Port of Baltimore and the region鈥檚 interstate network will drive sustainable demand from distribution and logistics users over the long term.鈥�
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