Cushman & Wakefield announced that it has arranged the sale of 3701 Southwestern Blvd., a 160,782-square-foot distribution warehouse on 6.7 acres in Baltimore. Apex, LLC acquired the warehouse from 3701 Realty, LLC for $3.5 million. Apex, LLC is a partnership formed by Shaw Real Estate and Mukul Mehta, owner of The Mayflower Companies.
Apex, LLC was represented by Michael Elardo, Senior Director at Cushman & Wakefield. The seller was represented by Robert Oare, Jared Ross, Jarred Testa and Tilghman Herring, also of Cushman & Wakefield.
“Shaw Real Estate, LLC was attracted to the property due to its location, large power and utility feeders and infrastructure,” said Mr. Elardo. “They are planning a major redevelopment of the property to include the addition of dock and drive-in doors, raising the roof in sections, a new tenant entry and complete refurbishment of interior. The warehouse can be subdivided to 40,000 square feet and will offer outside storage and drive-through capabilities.”
The property was originally a margarine processing facility for Mrs. Filberts and most recently operated by Unilever until it was closed in 2015. The purchase represents Shaw Real Estate’s fifth acquisition in the Baltimore-Washington market.
The Cushman & Wakefield team of Michael Elardo, Robert Oare, Jared Ross and Michael Walsh will be responsible for marketing the redeveloped project.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
