MCRES Procures Buyer in $4.5 Million Sale of 1340 Chesapeake Avenue in Curtis Bay Section of Baltimore City
Logistics, transportation, and building clean-up company Mid Atlantic Express acquires asset
Mid Atlantic Express, LCC, a logistics, transportation and building clean-up company, has acquired 1340 Chesapeake Avenue, a single-story 25,400 square foot warehouse situated in the Curtis Bay section of Baltimore City for $4.5 million. MacKenzie Commercial Real Estate Services Senior Vice Presidents and Principals Andrew Meeder, Daniel Hudak and Matthew Curran procured the buyer in this transaction. The MacKenzie team recently brokered the sale of 25 Thomas Avenue, a truck terminal in Baltimore City comprising approximately 21,000 square feet of warehouse and related space for $3.7 million on behalf of Mid Atlantic Express, LLC.
Situated on a lot just over three acres in size, the single-tenant building is equipped with 30-foot ceilings, two drive-in doors, and two loading docks. The asset is situated less than two miles from Interstate 695 (Baltimore Beltway), less than three miles from Interstate 895, and approximately 10 miles from BWI Airport.
According to the MacKenzie Q3 Market Report, the current vacancy rate for industrial/warehouse properties in the Baltimore City submarket is 7.58 percent, representing a slight decrease from the previous quarter’s 8.65 percent.
“Mid Atlantic Express was searching for a new corporate headquarters site which better satisfied its growing real estate requirement,” stated MacKenzie’s Andrew Meeder. “1340 Chesapeake Avenue offered the perfect solution based on the asset’s size, strategic location near major highways, and availability of an outdoor storage yard to house its equipment. The two assets are separated by less than four miles, which will minimize disruption to its employees and area customers, and simplify the move.”
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
