MCRES Brokers Sale of 25 Thomas Avenue in Baltimore City for $3.7 Million
Property contains 21,000 square foot warehouse and 2.5-acre Industrial Outdoor Storage component
MacKenzie Commercial Real Estate Services has brokered the sale of 25 Thomas Avenue, an asset in Baltimore City comprising approximately 21,000 square feet of warehouse and related space for $3.7 million to an unnamed buyer. The property, which also includes a 2.5-acre Industrial Outdoor Storage (IOS) component, was formerly owned by Mid Atlantic Express, LLC. MacKenzie Commercial Real Estate Services Senior Vice Presidents and Principals Andrew Meeder, Daniel Hudak and Matthew Curran represented the seller and CBRE’s Luke Wilson of CBRE represented the buyer in this transaction.
The property contains a 14,600 square foot truck terminal featuring 44 loading docks, two drive-in doors, and 14-foot ceiling heights; a 5,000 square foot service and repair building equipped with four drive-in doors; and a 1,200 square foot shop building with three drive-in doors. Fronting Thomas Avenue, the portfolio is situated approximately two miles from Interstate 695 (Baltimore Beltway), 2.5 miles from MD Route 295 (Baltimore-Washington Parkway), approximately three miles from Fairfield Marine Terminal, 3.5 miles from Interstate 895, and four 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.
“The main building’s current configuration and former use as a truck terminal matched the real estate requirements of the new owner,” stated MacKenzie’s Andrew Meeder. “25 Thomas Avenue is properly zoned for this use, as well as for outdoor storage and is situated within close proximity to major highways connecting to the Mid-Atlantic region.”
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
