Newmark Arranges Sale of Class A Office Property 40 Wight Avenue in Baltimore Suburbs

April 15, 2025 9:00 AM

Newmark announces the company has arranged the sale of 40 Wight Avenue in Hunt Valley, Maryland, a city just outside of Baltimore. Newmark Managing Director Nicholas Signor, Executive Managing Director Cristopher Abramson and Managing Director Ben McCarty represented the seller, an undisclosed national REIT, in the transaction. The asset was acquired by an affiliate of Minnesota-based Onward Investors.

“The sale of 40 Wight Avenue highlights the continued demand for high-quality, well-located office assets in the Baltimore region,” said Abramson. “This property’s modern design, strong tenancy and accessibility make it a prime investment opportunity.”

40 Wight Avenue is an approximately 90 percent occupied, five-story Class A office tower that was built in 2017. Its amenities include an outdoor patio area, abundant natural light and a strategic location near a light rail station as well as a host of dining and retail offerings.

As reported by Newmark Research, Baltimore’s office market continues to demonstrate healthy fundamentals, ending 2024 with over 83,000 square feet of positive absorption and a vacancy rate of 15.6%. Recent investment activity, including the $14 million sale of a fully leased office property, signals continued demand for well-tenanted assets across both urban and suburban submarkets.

About Onward Investors
Based in Minneapolis, MN, Onward Investors is an alternative investment firm specializing in real estate-related opportunities. Founded in 2011 to capitalize upon dislocation in the wake of the Global Financial Crisis, the firm marries deep asset class expertise with comprehensive credit and equity investing capabilities. For more information about Onward Investors, please visit www.onwardinvestors.com

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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