Baker Properties purchases large office/flex portfolio
Baker Properties Richmond Limited Partnership has retained CBRE|Richmond as its exclusive listing agent for a $60 million Richmond area portfolio it recently acquired from First Potomac Realty Trust.
Baker Properties purchased the 19-building, 827,925-square-foot portfolio of office and flex properties from Maryland-based First Potomac last month. The firm is a division of The Baker Cos., based in White Plains, N.Y., which specializes in commercial real estate development and acquisitions of warehouse and flex buildings
The portfolio includes: Park Central I, II and V and Virginia Technology Center in Henrico County; Hanover Business Center in Ashland; and Chesterfield
Business Center, Airpark Business Center and Pine Glen, all in Chesterfield County.
“We are delighted to be Baker Properties’ partner in Richmond,” John Carpin, senior vice president of CBRE|Richmond, said in a statement.
Carpin, Matt Anderson, Malcolm Randolph and Jimmy Martin, all of CBRE/Richmond, will be Baker Properties’ leasing representatives.
Baker owns facilities and business parks in major distribution corridors in New York, New Jersey, Connecticut and Pennsylvania.
According to the company’s website, Baker Properties has acquired and developed more than 7 million square feet of warehouse and flex product and owns and manages more than 3.5 million square feet for its own account.