BALTIMORE (PRWEB) January 30, 2023
Triten Real Estate Partners, a Houston-based commercial developer and management firm with a focus on Industrial Service Facilities (ISF) and Industrial Outdoor Storage (IOS), expands their growing portfolio with the recent acquisition of two infill, industrial outdoor storage properties in the Baltimore/Washington Corridor market. Danny Coffman, principal at Triten Real Estate Partners, sourced both properties off-market through a standing relationship with Greenspring Realty Partners.
The properties, 1205 68th Street and 11235-11239 Philadelphia Road, are centrally located in the Mid-Atlantic and provide users with a 15 minute or 6 mile drive to the Port of Baltimore, Tradepoint Atlantic, and, Downtown Baltimore and have easy access to I-95, I-895, I-70, and I-83.
1205 68th Street is zoned heavy industrial and operates as a truck terminal and freight facility. Philadelphia Road, also zoned heavy industrial with a special use permit for the dismantling and storage of vehicles, operates as an outside storage facility and is 50% occupied with 7 acres available for lease. Properties zoned heavy industrial with proximity to the Seagirt Terminal are hard to come by and highly sought after.
“There is significant demand for outside storage in the Baltimore County East submarket due to the container traffic driven by the Dundalk Terminal at the Port of Baltimore,” says Danny Coffman, principal at Triten Real Estate Partners. “The constrained zoning and high-demand for properties with heavy industrial zoning in the Baltimore/DC market makes both of these assets great additions to our portfolio. This transaction highlights our team’s ability to source deals off-market and our unique capability to structure advantageous deals for all parties involved. It was a pleasure to work with Dan Flamholz and the rest of Greenspring team.”
With over 3.4 million square feet of industrial warehouse space currently under construction and the exponential growth and demand of trucking, logistics, and intermodal users, Baltimore continues to be one of the fastest-growing industrial markets in the U.S. and Triten continues to work diligently on growing their portfolio as this demand increases. Triten's total portfolio stretches across 11 tier one markets in the U.S. with over 50 sites in the portfolio.
Portfolio growth has been so exponential within the last year that Triten now holds multiple satellite offices throughout the nation to better position themselves in these top tier markets. Along with Triten’s offices in Houston and Dallas, Triten has positioned themselves on both the east and west coasts with Principal Trevor Hanson managing the office in Irvine, California while Principal Danny Coffman is managing the Triten office in Baltimore, Maryland.