Marcus & Millchap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Laurel Small-Bay Warehouse, a 23,360-square-foot industrial property located at 9749 Washington Boulevard North in Laurel, for $2.85 million.
“This small-bay industrial property caters to auto-oriented tenants. Given its location in Laurel and visibility on US-1, it consistently enjoys high occupancy,” said Bryn Merrey, investment specialist. “Properties that cater to smaller industrial tenants the way Laurel Small-Bay Warehouse does are fairly scarce in this area.”
The property is 98 percent occupied and encompasses 14 units. With visibility on Route 1 and traffic counts of 40,571 vehicles per day, it has remained highly occupied for years using only a nearby leasing sign to attract tenants. Multiple tenants have operated at the location for more than 10 years and it only experienced minimal tenant disruption throughout the pandemic.