NorthBridge Partners has acquired Last-Mile @ BWI, a 13.61-acre outdoor industrial storage site in Hanover, Md., along the Baltimore-Washington corridor for $21 million from HLNP LLC.
Amazon is the tenant.
Baltimore is considered one of the nation’s premier industrial markets. Amidst an uneven economic recovery, the Baltimore industrial market remains a bright spot for the region, posting 1.5 million square feet of positive net absorption in the fourth quarter 2020 and nearly tripling gains from the prior quarter, reported CBRE. This brought total occupancy gains in 2020 to 3.2 million square feet, following a record year in 2019 in which the market posted nearly 10 million square feet of net demand growth. Gross leasing activity picked up from the prior quarter by 24 percent, closing fourth quarter at a robust 4.2 million square feet. Of note, the Baltimore-Washington corridor has been the largest driver of growth in 2020, contributing 79 percent of occupancy gains
