MacKenzie Brokers Sale of 80,000 sf Warehouse in Baltimore County
New owner of 1201 67th Street in Rosedale to occupy remaining 60,000 square foot vacancy
MacKenzie Commercial Real Estate Services, LLC has brokered the sale of 1201 67th Street, a single-story, 80,000 square foot warehouse building positioned in the Rosedale section of Baltimore County for $5.725 million. Daniel Hudak, SIOR, Senior Vice President for MacKenzie Commercial Real Estate Services and Andrew Meeder, Senior Vice President/Principal for MacKenzie Commercial Real Estate Services represented the seller, 67th Street, LLC. Michael Mills of Atlantic Real Estate Services and Dale Hoxie of Barrett Industries represented the buyer, Daniels Real Estate Acquisitions. The building was constructed in 1982 and is sited on a 2.6-acre parcel of land at the intersection of 67th Street and E. Biddle Street.
Daniels Health, an affiliate company of Daniels Real Estate Acquisitions, intends to assume the remaining 60,000 square foot space in 1201 67th Street, as leases expire, to elevate the asset to 100% occupancy. Two other tenants currently lease space within the building including Gamse Lithographing Company which leases approximately 20,000 square feet of space and Legacy Wood Products. Chopstix Gourmet, a locally-owned and operated Asian restaurant, recently exited the building after utilizing the space for food preparation and catering.
Equipped with clear ceiling heights ranging from 16 to 28 feet, rear loading docks and a platform dock, a truck court and free surface parking surrounding the building, 1201 67th Street overlooks Pulaski Highway (US Route 40), is adjacent to Interstates 95 and 895 and is approximately five miles from the Port of Baltimore and 10 miles from BWI Airport.
Daniels Health is an Australia-based company engaged in the disposal of chemotherapy, medical and pharmaceutical waste as well as sharps needlesticks. The company, which services the needs of hospitals, research and laboratory facilities, long-term care centers and diagnostic and treatment centers intends to utilize the space as a medical waste processing facility. Daniels is in the process of making some renovations to increase the loading capacity of the building as well to accommodate its processing equipment.
“With the food service operations of Chopstix negatively impacted by the pandemic, the owner was no longer in need of a large warehouse space and determined now was the appropriate time to dispose of the building,” explained Daniel Hudak of MacKenzie Commercial Real Estate Services. “There remains a scarcity of warehouse buildings for sale in the greater Baltimore metropolitan region, given the ever-growing need of this asset class among logistics and light manufacturing uses. The building’s physical plant was in excellent condition and not in need of improvements, and its position near major transportation systems enabled our team to achieve a sales value that exceeded seller expectations.”
According to data from MacKenzie Commercial Real Estate Services, the vacancy rate for warehouse/industrial product in Baltimore County East submarket stood at 7.4% at year-end 2021.
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group and Datastory Consulting. The company provides customized real estate solutions for institutional owners, investors, private companies and individuals. For additional information, visit www.mackenziecommercial.com