CCIT II, a publicly registered nonlisted REIT sponsored by affiliates of CIM Group, has completed the acquisition of a five-story, approximately 132,000-square-foot office building located on approximately 7.4 acres at 40 Wight Ave. in Hunt Valley, Md.
Built in 2017, the LEED Gold designated building serves as the corporate headquarters for a regional engineering and design firm and was acquired for $39.1 million exclusive of closing costs.
The Hunt Valley area is located 17 miles north of Baltimore’s CBD. The property is easily accessible from Interstate 83 and HIghway 45, the two major north-south thoroughfares in the Baltimore region. The Baltimore Light Rail system has three light rail stops within close proximity to the property.
The acquisition of 40 Wight Ave. follows the recent announcement of the CCIT II acquisition of four office buildings acquired over a 30-day period, which added approximately 519,000 square feet of single-tenant net-leased assets
