Colliers recently facilitated the sale of a 66,590-square-foot warehouse and distribution center in Hanover, Maryland for $13 million. The property was originally built in 1972 as a data center but has since been converted back to its original configuration due to changing technology trends. Located on over eight acres near BWI Airport, the facility features 6,050 square feet of office space and offers amenities such as a fenced area, high ceilings, multiple loading docks and drive-in doors.
The deal was brokered by Colliers’ team led by Thomas Gentner along with Brian Watts, Brian Siegel and Jason Sullivan on behalf of Rialto Capital-managed vehicles. According to Gentner: “The successful repositioning of this property in the marketplace would not have been possible without Rialto’s involvement.” Thanks to their collaboration with Rialto Capital Management LLC., they were able to effectively market the property with minimal downtime.
