A private investment company based in Washington, DC has acquired a 2.23-acre outdoor storage parcel located at 210-212 Mason Drive in Rockville, Maryland for $4 million. The names of the buyer and seller were not disclosed. Joe Friedman and Josh Norwitz from KLNB facilitated the transaction on behalf of the seller while procuring the buyer.
Friedman commented that “having an understanding of supply and demand forces within this asset class as well as exponentially increasing rental rates and investor demands was essential to achieving a premium price for our client”.
