JESSUP, MD—The former Giant Food warehouse in Jessup sold for 37 percent more than what the massive property traded for in 2013. The joint venture of Columbia-based Manekin LLC and Boston-based AEW Capital Management acquired the 730,000-square-foot complex last week for $45.25 million, according to state property records. The sellers, Mosaic Realty Partners and New York Life Real Estate Investors, purchased the building in April 2013 for $33 million.
Known as the Baltimore Washington Logistics Center, the property at 7600 Assateague Drive was built in phases from 1972 to 1974 as the main distribution facility of Giant Food. The 60-acre vacant site sits at the intersection of Route 1 and Route 175.
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- 26 May 2015Manekin, joint venture partner paid $45.25M for former Giant warehouse