Industrial site in Jessup includes building leased by trucking and transportation logistics company as well as industrial outdoor storage space.
MacKenzie Commercial Real Estate Services, LLC has brokered the sale of 7402 Montevideo Road, a property containing a two-story building and an Industrial Outdoor Storage (IOS) site in the Jessup section of Howard County for $1.2 million to a local investor. MacKenzie’s Dennis Boyle, Senior Vice President and Graham Sevy, Real Estate Advisor represented the seller, the Estate of MacDonald Family, LLC and Andrew Meeder, Matthew Curran and Daniel Hudak, all Senior Vice Presidents, and Principals for MacKenzie represented the buyer in this transaction.
The two-parcel site, located adjacent to Interstate 95, MD Routes 100 and 295 and US Route 1, also includes a storage building and shed. The two-story building is partially leased by 365 Transportation, Inc., a company engaged in the trucking and transportation logistics industries.
“The new owner is considering multiple options for this asset including a redevelopment play to take full advantage of its strategic positioning in the Baltimore-Washington, D.C. corridor,” explained Dennis Boyle of MacKenzie. “The outdoor storage space is particularly valuable given its high demand and diminishing availability. IOS has emerged, both nationally and locally, as a highly sought-after necessity among logistics companies that need space to stage or provide short-term storage for products prior to shipping them to the next destination.”
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.