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Westmount purchases Candlewood Commerce Center

Westmount Realty Capital LLC , in a joint venture with Partners Group, purchased Candlewood Commerce Center in Hanover for an undisclosed price.

The property consists of 357,701 square feet of Class A light industrial and distribution space spread over three buildings. Westmount intends to rehab the buildings and re-market the property, heavily emphasizing its location and access to Baltimore Washington International Thurgood Marshall Airport.

Renovations will also allow for a wider variety of uses, the company said.

The purchase is Westmount’s first venture into the Baltimore and Washington, D.C., markets. JLL serves as the project’s exclusive leasing agent. Jon Carpenter, of DTZ, represented the seller.

 


About Adam Bednar

Adam Bednar covers real estate and development for The Daily Record.