MacKenzie Commercial Real Estate Services has brokered the sale of 7402 Montevideo Road, a property containing a two-story building and an industrial outdoor storage site in Jessup for $1.2 million to a local investor.
The two-parcel site, located adjacent to I-95 and routes 100, 295 and 1, also includes a storage building and shed. The two-story building is partially leased by 365 Transportation, a trucking and transportation logistical concern.
“The new owner is considering multiple options for this asset including a redevelopment play to take full advantage of its strategic positioning in the Baltimore-Washington, D.C. corridor,” said MacKenzie Senior Vice President Dennis Boyle. “The outdoor storage space is particularly valuable given its high demand and diminishing availability. IOS has emerged, both nationally and locally, as a highly sought-after necessity among logistics companies that need space to stage or provide short-term storage for products prior to shipping them to the next destination.”
Boyle and Graham Sevy, real estate advisor also of MacKenzie, represented the seller, the Estate of MacDonald Family; and Andrew Meeder, Matthew Curran and Daniel Hudak, all also senior vice presidents as well as principals for MacKenzie, represented the buyer in the transaction.