Sisson Trans LLC sells parcel located in Remington section of City to Seawall Development
MacKenzie Commercial Real Estate Services, LLC has brokered the sale of a 3.5 acre parcel, located at 2600 Sisson Street in the Remington section of Baltimore City for $5 million. Daniel Hudak, SIOR, Senior Vice President; Owen Rouse, Vice President of Investment Sales and Andrew Meeder, SIOR, Senior Vice President for MacKenzie Commercial Real Estate Services represented the seller, Sisson Trans LLC. The buyer, Seawall Development, was self-represented in this transaction.
The acreage is presently utilized by First Transit, Inc., a Cincinnati-based transportation services company, for bus storage as well as repair services and dispatch operations as part of the group’s contract with the Maryland Department of Transportation. The site, positioned directly off Interstate 83 (Jones Falls Expressway), also includes two single-story building containing just over 30,000 square feet of industrial/warehouse space. It is completely fenced-in, paved and adequately lighted.
“Generally unimproved parcels located in urban areas, consisting of five to twenty-five acres in size, are part of a new asset class known as Industrial Outdoor Storage or Outdoor Storage Land, and are in extremely high-demand among end-users and investors alike,” explained Daniel Hudak of MacKenzie Commercial Real Estate Services. “The sites complement the real estate requirements of logistics companies that need space to stage or provide short-term storage for products prior being shipped their next destination. Acreage situated within close proximity to a port location, such as this, is particularly valuable.”
Commonly-found items contained on Industrial Outdoor Storage sites include automobiles, trucks and construction vehicles and, given the accelerated expectations of businesses and consumers, these sites are now referred as “mission-critical” in the logistics industry.
“The new owner has many options for this acreage including identifying a new tenant once this lease expires in several years, or undertaking a wholesale redevelopment strategy that might take different forms,” added Andrew Meeder of MacKenzie Commercial Real Estate Services. “The new owner has substantial real estate investments in the Remington area as well as other sections of the city.”
2600 Sisson Street is located approximately five miles from Interstate 95, six miles from the Port of Baltimore and 15 miles from Baltimore-Washington International Airport.
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