“Industrial Property of 66K Square Feet Sells for Million”
A multi-million dollar sale of a warehouse and distribution center in Hanover, Maryland has been successfully facilitated by Colliers. The team, led by Thomas Gentner, Brian Watts, Brian Siegel, and Jason Sullivan, brokered the million deal for Rialto Capital-managed vehicles.
The property, initially constructed in 1972 as a data center, has been returned to its original configuration to align with technological advancements. Located on a sprawling eight-acre site at 7150 Standard Drive near BWI Airport, the facility boasts 6,050 square feet of office space, a fenced area, 20-foot clear ceiling heights, six dock high doors, four drive-in doors, and 2,800 amps of electrical service.
Gentner expressed his gratitude towards Rialto for their collaboration in the demolition, transformation, and marketing of the property, emphasizing how it enabled them to reposition the facility in the market with minimal disruptions. This successful venture highlights the potential for adaptive reuse in real estate projects, showcasing the importance of strategic partnerships in the commercial property sector.
