Cushman & Wakefield has successfully facilitated the sale of a state-of-the-art warehouse property located at 7314 Race Road in Hanover, Maryland. The newly constructed Class A facility spans over 130,000 square feet and boasts top-notch features such as 32′ clear heights, 32 loading positions, and ample parking with space for up to 98 vehicles.
The seller was represented by a team from Cushman & Wakefield including Jonathan Carpenter, Graham Savage, Dawes Milchling and James Check. The buyer of the property was Sagard Real Estate.
At the time of sale, the property was already leased out to one credit tenant at an occupancy rate of 67%. Its prime location offers immediate access to major transportation routes such as Route100 and I-95 making it an ideal last mile distribution center within the Baltimore-Washington I-95 Corridor.
According to Executive Managing Director Jonathan Carpenter from Cushman & Wakefield: “Race Road Logistics Center is a newly constructed best-in-class facility that caters perfectly to last mile distribution needs in this highly sought-after region.” He also added that during their marketing process they received interest from numerous qualified investors resulting in a total of fifteen offers being made for this exceptional industrial asset. This further demonstrates the strong demand for industrial properties within Mid-Atlantic’s thriving capital markets.
