BPG Properties Ltd. on Thursday announced the sale of the 316,524-square-foot Harford Distribution Center in Belcamp, Md.
The value of the transaction was not disclosed.
First Industrial Realty Trust’s Net Lease Co-Investment Program purchased the warehouse facility, which is located within the established Riverside Business Park at 4622 Mercedes Drive.
The 15-acre property was constructed in 1996 and features 28-foot to 30-foot clear ceiling heights and 60 cross-docked bay doors.
An affiliate of BPG acquired the property in April 2003 on behalf of BPG Investment Partnership VI L.P. In the fourth quarter of 2005, BPG executed a long-term lease expansion with Sephora USA Inc. for 100 percent of the space at Harford Distribution Center. Sephora is a division of Moet Hennessey Louis Vuitton and operates 110 beauty product stores located throughout the United States and Canada. Harford Distribution Center serves as the company’s main distribution facility in the United States.
BPG Properties Ltd., the real estate investment manager for Berwind Property Group Ltd. and other major institutional investors, is a Philadelphia-based, privately held real estate investment firm.