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Gaulin Properties Acquires MD Building for $18M
Tate, Inc., a global manufacturer and installer of flooring has sold its U.S. company headquarters to Gaulin Properties for $18.5 million.
MacKenzie Commercial Real Estate Services, LLC brokered the sale of the 121,211 square foot warehouse building located at 7510 Montevideo Road in Jessup, Maryland. MacKenzie was subsequently selected by the new owner as the exclusive leasing broker.
Additionally, Tate, Inc. signed a short-term leaseback with Gaulin Properties. MacKenzie Senior Vice Presidents and Principals Matthew Curran, and Andrew Meeder represented the seller in this transaction and will also handle the leasing assignment.
Situated on a 10-acre site, the building features an updated two-story office component and includes excess land on the perimeter of the site which can be utilized for outdoor storage and trailer parking. 7510 Montevideo Road is situated less than 14 miles from the Port of Baltimore’s Fairfield Marine Terminal. Washington, D.C. can be accessed in less than one hour, and Philadelphia is less than two hours away.
