Cole Office & Industrial REIT (CCIT II), Inc. (CCIT II), a publicly registered non-listed real estate investment trust (REIT) sponsored by affiliates of CIM Group, has acquired a five-story, approximately 132,000-square-foot office building located on approximately 7.4 acres at 40 Wight Avenue in Hunt Valley, Maryland for $39,100,000, exclusive of closing costs.
Built in 2017, the LEED Gold designated building serves as the corporate headquarters for a regional engineering and design firm.
The Hunt Valley area is located 17 miles north of Baltimore’s Central Business District. The office building in Maryland is easily accessible from the I-83 and Hwy 45, the two major north-south thoroughfares in the Baltimore region. The Baltimore Light Rail system has three light rail stops within close proximity to the property.
The acquisition of 40 Wight Avenue follows the recent announcement of the CCIT II acquisition of four office buildings acquired over a 30-day period, which added approximately 519,000 square feet of single-tenant net-leased assets to the CCIT II portfolio.