Gavigan’s Furniture Acquires 177,536 SF Warehouse Building in Anne Arundel County for $17.75 Million
MacKenzie Commercial Real Estate Services represents family-owned furniture retailer in purchase of asset known as the Commerce Corporation Building
Gavigan’s Furniture, recognized as Maryland’s largest family-owned furniture retailers with six showrooms operating across the state, has acquired 700 Evelyn Avenue, a 177,536 square foot warehouse for $17.75 million. Gavigan’s Furniture previously leased the asset, located in the Linthicum section of Anne Arundel County, to house warehouse operations and administrative offices. Matthew Curran, SIOR and Andrew Meeder, SIOR Senior Vice Presidents and Principals at MacKenzie Commercial Real Estate Services, LLC. represented the buyer.
“Gavigan’s Furniture has occupied 700 Evelyn Avenue for more than a decade as a tenant, and this acquisition allows the company to transition from tenant to owner-occupant,” stated MacKenzie’s Curran. “Ownership gives the company greater control over its long-term operating and occupancy costs while providing a foundation for future expansion. The property’s strategic location allows them to maintain proximity to their showrooms throughout the region.”
Built in 1968, and also known as Commerce Corporation Building, the building is equipped with 25 loading docks, nine drive-in bays, a surface parking lot which can accommodate 85 vehicles, and a second-level office component. The site is directly adjacent to Interstates 695 and 895, and is located less than five miles from BWI Airport and eight miles from the Port of Baltimore.
Gavigan’s Furniture operates showrooms in Anne Arundel, Baltimore, Carroll, and Harford counties and carries furniture from Kincaid, Hooker, England, Serta and other name brands.
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
