1788 Holdings Buys Two Industrial Properties in Baltimore City
Bethesda-based 1788 Holdings, LLC, has acquired two industrial properties in the Baltimore City submarket as part of a regional strategy involving the 2021 purchase of 14 assets totaling more than one million square feet of space and 38 acres across seven predominately Southeastern states.
The newly acquired properties were purchased for a combined $22.8 million and include a 75,000-square-foot light industrial/manufacturing building on Rolling Mill Road as well as a 351,000-square-foot light industrial/manufacturing asset on Wicomico Street.
The Rolling Mill Road asset features outside storage land and direct access to the Port of Baltimore. The Wicomico Street asset also features outside storage land, and both properties are 100% leased.
“As a port city, Baltimore is a primary destination for roll-on/roll-off cargo, particularly automobiles, trucks and heavy equipment cargo, and there remains continuing demand for storage sites with immediate proximity,” said Larry J. Goodwin, principal of 1788 Holdings, LLC. “Most of the infill light industrial properties in the immediate trade area do not have excess land for this type of storage, and we are filling this ongoing need.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as he makes the transition from an utterly failed racehorse to a lovely show hunter.