145 8th Avenue, NW in Glen Burnie sells for $1.6 million and 7121 Kit Kat Road in Elkridge trades for $1.3 million, with both assets featuring in-demand outdoor storage areas.
MacKenzie Commercial Real Estate Services has executed the sale of two industrial properties located in the central Maryland area, in separate transactions, for nearly $3 million. 145 8th Avenue, NW, a warehouse comprised of approximately 5,300 square feet on 1.63 acres zoned W2 was sold to C. Wood Trucking, LLC for $1.6 million. The seller was Flynn’s Granite, LLC. Additionally, AJ&P Leasing, LLC acquired 7121 Kit Kat Road, a 2,400 square foot warehouse on 2.1 acres zoned M2, from Paul D. Mayerman for $1.3 million.
Matthew Curran, Daniel Hudak, and Andrew Meeder, all Senior Vice Presidents, and Principals for MacKenzie represented the selling entities in both transactions.
Constructed in 1955 and situated on a 1.63-acre site in the Glen Burnie section of Anne Arundel County, 145 8th Avenue, NW features an office component and a warehouse with three at grade loading doors and is situated less than two miles from BWI Airport, seven miles from Fairfield Marine Terminal, approximately 12 miles from the Dundalk and Seagirt Marine Terminals and 13 miles from Baltimore City. It is also within proximity to Interstates 695 (Baltimore Beltway) and 97.
7121 Kit Kat Road, is located in the Elkridge section of Howard County and is contained on a 2.1-acre site. The industrial property is located directly off US Route 1 and features immediate access to MD Routes 100 and 295, as well as Interstate 95. The asset is approximately four miles from BWI Airport.
“A significant selling point of both assets was the availability of outdoor storage which, over the last several years, has emerged as a highly sought-after asset class, especially those located nearby the Port of Baltimore, BWI and major interstates,” explained Matthew Curran. “Inventory of small to mid-size outdoor storage properties is minimal which resulted in strong activity from industrial users for each property. Both properties sold for approximately $1 million per usable acre.”
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, LLC and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies and individuals. For additional information, visit www.mackenziecommercial.com.