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News release

BALTIMORE, MD

Westmount Realty Capital Hires JLL for Logistics Pointe BWI

Class A warehouse and flex space is four miles from BWI


BALTIMORE, JULY 21, 2015 - Westmount Realty Capital LLC, a Dallas-based real estate investment company, has named JLL the exclusive real estate services provider for its recently acquired Logistics Pointe BWI, formerly known as Candlewood Commerce Center, in Anne Arundel County, Maryland.

Situated on approximately 19 acres just west of Baltimore–Washington International Airport, Logistics Pointe BWI is comprised of the three buildings at 7462, 7466 and 7468 Candlewood Road in Hanover, Maryland. The properties offer 357,707 square feet of Class A warehouse and flex space. The buildings are well-suited to handle flex users from 5,000 to 85,000 square feet and high bay warehouse users from 25,000 to 133,000 square feet.

“We are pleased to have acquired these three well-located buildings,” said Steve Kanoff, Director and Chief Investment Officer at Westmount. “Logistics Pointe BWI presents good upside potential with well-executed asset management and leasing strategies.”

The direct vacancy rate for BWI Industrial assets was 10.9 percent at the end of the first quarter of 2015, according to JLL.
“Class A warehouse opportunities have become scarce in this market as tenants continue to absorb more space and these well-positioned properties will attract lots of interest,” said Ben Meisels, a Senior Vice President in JLL’s Baltimore office.

JLL’s Ben Meisels, Greg Ferraro and Ryan Burrows will manage this leasing assignment.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.