Marcus & Millichap, a leading commercial real estate firm, recently facilitated the sale of an 80,070-square-foot defense manufacturing facility in Reisterstown, Maryland. The property was sold for $7.3 million at a rate of $91 per square foot. Constructed in 1979 on 5.49 acres of land, the facility features 9,000 square feet of office space and various manufacturing areas.
Bryn Merrey and John Faus from Marcus & Millichap’s Washington D.C. office expertly managed the exclusive listing for this property and represented both the seller and buyer in securing this successful transaction.
According to Faus: “Despite having a short remaining lease term, it was clear that the tenant had strong commitment to this property through their complex manufacturing processes and long-standing tenure on site.” He also noted that national interest was generated for this deal which ultimately resulted in a favorable outcome for all parties involved.
This recent sale highlights Marcus & Millichap’s expertise in facilitating successful transactions within the commercial real estate market.
