Blue Ocean Realty continues to gobble up properties in the Baltimore area, this time buying a 680,000-square-foot industrial building in Halethorpe.
The Baltimore firm paid an undisclosed sum for the building at 1954 Halethorpe Farms Road. The seller was Halethorpe Business Trust.
The building, that once manufactured aluminum parts for U.S. military aircraft, is fully occupied by seven tenants. More than half the building is leased by Alcoa, the aluminum manufacturing giant.
The seller was represented by Michael Spedden and Don Schline, both of MacKenzie Commercial Real Estate Services LLC. Capital advisory services were provided by John Black, president of MacKenzie Capital Company LLC.
“The recent renewal of the Alcoa lease, exceptional ceiling heights and the corridor location were attractive to a number of regional and institutional bidders,” Schline said.