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NKF sells Oakland Ridge portfolio

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Newmark Knight Frank (NKF) announced the sale of the Oakland Ridge Portfolio, a three-building, 84,514-square-foot portfolio in Columbia. The principals of Advantage Properties and Cove Property Management purchased the portfolio from a joint venture between Feldman Bergin Properties and Fortified Property Group for $9.95 million.

The sale marks the third disposition arranged by the NKF team in the Oakland Ridge Industrial Park in the last 12 months. The portfolio totals 84,514 square feet on 6.78 acres. At 100 percent leased, the portfolio provides strong in-place cash flow with value-add potential through rising rents. The portfolio is also buoyed by the future Howard County Courthouse development, a $140 million development project that will rise just a quarter-mile away.