In April 2013, Mosaic partnered with New York Life Investment Management in the opportunistic acquisition of 7600 Assateague, an irreplaceable, bulk asset on 58.9 acres in a ground-zero location off I-95 in the Baltimore-Washington Corridor. The cost basis, based on purchase price, carry and expenditures for improvements to modernize the property, was well below replacement price. Located at the intersection of Route 175 and I-95 in the Baltimore-Washington Corridor, 7600 Assateague represented a rare opportunity to acquire a premium, bulk industrial asset in one of the top investment markets in the country. Built in 1972 and expanded in 1974, the property had been occupied and institutionally maintained by Giant Food since completion of construction. The property is situated within the Maryland Food Center in Jessup, in Howard County, Maryland. The four building, 801,476 square foot complex features ample car and tractor parking, a generous truck court with abundant trailer storage, 30-foot ceiling heights and an ESFR sprinkler system. After minor renovations and entitling excess land for the future development of a 160,000 square foot building, Mosaic profitably sold the asset in May 2015 for a price 37% greater than the acquisition price.