ATAPCO ACQUIRES TIMONIUM, MD CLASS-A OFFICE PORTFOLIO

Baltimore, MD –Atapco Properties (Atapco), is pleased to announce the $44.5 million acquisition of 9690 Deereco Road and 375 West Padonia Road, in Timonium, Maryland. The closing occurred December 17th, 2015. The two building office portfolio totals approximately 246,000 square feet on 11.8 acres and includes an adjacent two-story parking structure.

“These assets are of very high quality with credit-worthy tenants,” said Brian Conklin, Director of Acquisitions for Atapco Properties. “With major developments occurring to the north in Hunt Valley and to the south in Towson, this portfolio should continue to benefit from the positive momentum in both directions”.

The acquisition represents an opportunity to control an approximate 12 acre site at one of the most prominent intersections in Baltimore County with convenient access to I-83 and light rail, as well as the surrounding executive neighborhoods. Positioned in the I-83 South submarket, the strongest suburban submarket in the region, the property is close to Towson and Hunt Valley and is surrounded by a thriving amenity base along the York Road retail corridor.

The buildings are currently 100% leased, with publicly traded tech anchors accounting for approximately 70% of the square footage. Atapco will manage the assets from its headquarters office in Baltimore.

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Atapco Properties is a wholly owned subsidiary of American Trading and Production Corporation, which was originally formed in 1931 to consolidate, expand and diversify the business activities of the Blaustein family, the founders of the American Oil Company (AMOCO). Atapco Properties is active in Maryland, Delaware, Indiana, New Jersey, North Carolina, Pennsylvania, Tennessee, and Virginia, developing state-of-the-art industrial, retail, residential and mixed-use projects with an emphasis on sustainability and green building standards. For more information on Atapco Properties, visit www.atapcoproperties.com.

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