Renovated Industrial Property in Glen Burnie Goes for $10M
Colliers has facilitated the $10-million sale of a 58,883-square-foot industrial building in Glen Burnie, MD. Faropoint acquired the property.
Michael Blunt, Clay Ellis, Thomas Gentner, Brian Watts, Brian Siegel and Jason Sullivan represented the seller.
“Despite recent real estate market volatility, industrial assets, especially those with the ability to increase yield through leasing strategies, are still in very high demand. Industrial leasing fundamentals, and investor confidence in them, remain strong which has placed an emphasis on investment opportunities with leasing upside potential,” said Blunt.
The facility at 6704 Curtis Court is situated 5.38 acres of land and is 82% leased to Vision Technologies on a long-term basis. The building received a $4 million renovation in 2020 that created a 10,800 square-foot vacant suite to supplement its 20’ clear, loading docks and truck court and parking area.
The property 1.5 miles of I-695 and I-895, as well as within five miles of I-97 and Baltimore-Washington Parkway.
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 she makes the transition from an utterly failed racehorse to a lovely show hunter.