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Colliers Represents Freeman in the Sale/Leaseback of a $30 Million Facility in MD


An infill, last-mile, Class A industrial building located two miles from I-95/495 (Capital Beltway) and ten miles from Washington DC.

NEW YORK, NY, FEBRUARY 19, 2021 — Leading global commercial real estate services and investment management firm Colliers International Group Inc. is pleased to announce it has represented Freeman, the world’s leading live event and brand experience company, in the sale/leaseback of 9900 Business Parkway located in Lanham, Prince George’s County, MD.

The Colliers International Capital Markets team of Michael Kendall, Michael Blunt and Gian Bruno along with Colliers Las Vegas Industrial specialist Pat Marsh provided industrial expertise and exclusive representation to the Seller. Black Creek Group purchased the property for $29,650,000.

9900 Business Parkway is an infill, last-mile industrial building totaling 159,600 square feet. Built in 2004, the property contains Class A physical attributes including 24’ clear; tilt-up construction; 61 fully-equipped dock and four oversized drive-in doors; ESFR and heavy power. Given its expansive 12.36-acre site, the property also offers 149 trailer storage stalls which is exceedingly rare for an infill last-mile industrial building.

“Class A infill, last-mile industrial investment opportunities like this are extremely difficult to find,” shared Michael Blunt, an Executive Vice President and Colliers industrial capital markets specialist in the Washington/Baltimore region. “The property’s highly-functional design, exceptional urban-proximate location and cash flow from a long-term leaseback with Freeman all contributed to the robust interest expressed by many industrial investors.”

9900 Business Parkway is one of four properties Colliers is marketing as a national sale/leaseback portfolio on behalf of Freeman. The other properties are located in Las Vegas, Orlando and Dallas.

“The Freeman Connected Portfolio is comprised of quality industrial assets, all of which, are located in infill submarkets with close proximity to transportation infrastructure and dense population,” noted Michael Kendall, an Executive Managing Director and Colliers industrial capital markets specialist in the Irvine office. “Despite significant interest from portfolio and one-off investors alike, proceeding with 9900 Business Parkway as a one-off sale was clearly the optimal decision for Freeman.”

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.

Jake Klein
Goldin Solutions

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Michael Kendall

Vice Chair

Los Angeles - Orange County

After nearly three decades in the industry, Michael Kendall has experience in every aspect of commercial real estate, including brokerage, development, acquisitions, entitlements, asset management and construction. As Western Region Executive Managing Director of Investment Services for Colliers International, Michael and his team specialize in representing institutional owners as well as high-net-worth individuals, local entrepreneurs and private equity funds in the sale of industrial investments, including land.

Having sat on the ownership side of transactions for so many years, Michael has a unique perspective relative to the needs and expectations of investors in today’s dynamic market. He is skilled at negotiating complex transactions and is well respected for his integrity and tenacity.

Since 2015, Michael and his west coast team have closed more than $7.1 billion in individual property sales, totaling more than 62 million square feet. When portfolio sales are included, the totals increase to $12.7 billion and 125 million square feet.

Prior to joining Colliers, Michael was a Senior Vice President at CBRE Group and a member of the firm’s National Partners Industrial Platform. Previously, Michael was Vice President of Development and Director of Acquisitions at Turner Development/Turner Real Estate Investments. Before that, Michael was an Orange County Regional Partner for Koll Development Co.

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Michael Blunt

Executive Vice President

Washington, DC

Michael Blunt is a senior capital markets professional with over 25 years of experience in commercial real estate and more than $12 Billion of transactions closed. Mr. Blunt specializes in the investment sale and recapitalization of industrial properties and development sites throughout the Mid-Atlantic region for domestic and international capital sources. His clients include insurance companies, advisors, private equity investors, REITs, lenders, special servicers, and major corporations.

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Gian Bruno

Senior Vice President

Los Angeles - Orange County

As Director of Western Region Investment Services for Colliers International, Gian specializes in the representation of institutional clients in the acquisition and disposition of industrial properties throughout the Western United States. Gian leads the team’s underwriting and financial analysis from the initial Opinion of Value through the Close of Escrow. Gian is also responsible for investor interfacing and marketing strategy execution of all properties marketed by Colliers’ Institutional Investment Services Group.

In addition to working as a financial analyst in capital markets brokerage, Gian has worked on the ownership side of transactions for several years. This well-rounded experience gives him insight into the requirements and thought process of investors in today’s market.

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Pat Marsh

Executive Vice President

Las Vegas

Pat Marsh is an Executive Vice President in the Industrial Division of Colliers International, the leading commercial real estate firm in Nevada.  Mr. Marsh has been involved in industrial real estate in Las Vegas since 1996. He began with CB Richard Ellis where he specialized in tenant and landlord representation. In 1998, when Colliers International established a presence in Southern Nevada, Pat left the CB office to work for Colliers. Besides tenant representation, Mr. Marsh currently lists over 1 million square feet of industrial property in the Las Vegas valley, and over the past 20 years has worked on the sale of over 5,000 acres of industrial land throughout the Valley. Some of the developers Mr. Marsh has represented include: Harsch Investment Properties, Panattoni Development Company, Pro Logis, EJM Development Co., Weingarten Realty, and Apex Industrial Park. Some of the companies Mr. Marsh continues to represent include Freeman, Scientific Games, Cort, Wal-Mart, and Coca Cola.

Mr. Marsh supports the Colliers International Links for Life Foundation that provides children in need in Southern Nevada with medical services and monetary contributions. He also has competed in triathlons for over twenty years and coaches flag football and Little League Baseball in Henderson, NV.

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