NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $27 million loan for 7605 Dorsey Run Road, a 612,900-square-foot warehouse facility in Jessup, Maryland.
HFF director Steven Klein (top left photo) worked on behalf of Exeter Property Group to secure the five-year, adjustable-rate loan.
Founded in 2006, Exeter Property Group is a real estate company specializing in investing in value-add industrial properties in the Northeast, Mid-Atlantic, Mid-South and Southeastern United States.
New York Life Investment Management LLC, the real estate investment manager for New York Life Insurance Company, closed the loan.
Situated within the Dorsey Run Commerce Center, Dorsey Run Road has excellent access to Interstate 95, 295 and Route 1 and is in close proximity to the Baltimore-Washington International Airport and Fort Meade.
The Class A warehouse facility was completed in 2006 and is nearly one-third leased to Iron Mountain. 7605 Dorsey Run Road has 32’ clear ceiling heights and is cross-docked designed, with 122 loading docks and storage available for 111 trailers.
“7605 Dorsey Run Road is strategically positioned to benefit from two major events in the Baltimore-Washington Corridor. The Base Realignment and Closure Act (
BRAC) will bring over 20,000 jobs to the areas surrounding Fort Meade,” said Klein.
BRAC) will bring over 20,000 jobs to the areas surrounding Fort Meade,” said Klein.“Additionally, the ongoing Route 1 Revitalization Effort will bring new road access, upgraded streetscapes, and an improved environment for local and regional businesses.
"This has already directly benefited the property through the Dorsey Run Road Extension, which now provides immediate access to Route 175. ”
Contacts:
Contacts:
Steven J. Klein, HFF Director, (212) 245-2425, sklein@hfflp.com
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