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Marcus & Millichap Brokers Sale of IOS Asset Near MD Data Center Development
Marcus & Millichap brokered the sale of 4305 Lime Kiln Road, an industrial outdoor storage property in Frederick, Maryland. The asset sold for $7.45 million.
“Between the nearby data-center campus being developed and a scarcity of properly zoned outdoor storage sites, there is strong upward pressure on rents, making this a compelling investment opportunity,” said Bryn Merrey, senior managing director investments in Marcus & Millichap’s Washington D.C. office. “In the end, the property sold to an out-of-area investor.”
Merrey and John Faus of Marcus &Millichap marketed the property on behalf of the seller, 4305 LK Holdings, LP, and procured the buyer, Hampton Yard 17, LLC.
The property comprises approximately 8.31 acres, including seven acres of usable outdoor storage space and 14,710 square feet of service buildings. It is fully leased on an absolute triple-net basis to Rowan Green Data, LLC, which does business as Rowan Digital Infrastructure, a developer of hyperscale data centers, and functions as a staging and support site for nearby data center development activity. The asset provides access to Interstates 270 and 70 and is near the Quantum Frederick data center campus.
