MCRES Brokers Sale of 629 S. Philadelphia Boulevard in Harford County, MD for $6.4 Million
Heavy construction equipment distributor McClung-Logan acquires 17,000 square foot asset
McClung-Logan Equipment, Inc., a distributor of heavy construction equipment in the Mid-Atlantic region, has acquired 629 S. Philadelphia Boulevard, an industrial property in Harford County, Maryland comprising 17,000 square feet of warehouse space and situated on three acres for $6.4 million. The asset, which fronts US Route 40 (S. Philadelphia Boulevard) in Aberdeen, was formerly owned by All Roads Company. MacKenzie Commercial Real Estate Services Senior Vice Presidents and Principals Matthew Curran, Andrew Meeder and Daniel Hudak represented the seller, and CBRE’s Matt Laraway and Ridgely Bowman represented the buyer in this transaction.
Originally constructed in 1977 and fully renovated over the past two years, the building is equipped with nine drive-in loading doors and the property features a surface parking area and a fenced Industrial Outdoor Storage (IOS) lot. The property can be accessed from both S. Philadelphia Boulevard and Old Philadelphia Road, is located within an Opportunity Zone, and is less than four miles from Interstate 95, 32 miles from Seagirt Marine Terminal, and 42 miles from BWI Airport.
According to the MacKenzie Q3 Market Report, the current vacancy rate for industrial/warehouse properties in the Cecil and Harford County submarket is 7.83 percent, representing a slight decrease from the previous quarter’s 8.45 percent.
“The property was renovated in recent years and represented an excellent opportunity for the new owner to acquire a Class A industrial facility with outdoor storage in the Harford County market,” stated MacKenzie’s Matthew Curran. “The property generated strong interest from a wide array of industrial users including equipment rental companies, which is how the new owner will utilize the property.”
Headquartered in Baltimore, McClung-Logan operates ten full-service locations throughout Maryland, Delaware, and Virginia.
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates five full-service divisions addressing all real estate asset classes including MacKenzie Management Company, MacKenzie Contracting Company, MacKenzie Capital, MacKenzie Investment Group and MacKenzie Multifamily Management. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
