Overview
Cushman & Wakefield’s Mid-Atlantic Industrial Advisory Group is pleased to present exclusively for sale 7458 New Ridge Road, Hanover, MD, an infill last mile warehouse totaling 156,898 SF in the heart of the Baltimore-Washington Corridor. The fully circulated Class A building features 28’ - 31’ clear heights with fully conditioned warehouse space, ample parking (1.27 per 1,000 SF), four (4) points of ingress/egress, 27 dock doors, 4 drive-ins, and 105’ - 170’ truck court depths. The property is 100% leased to two (2) tenants (Compass Group USA & Handy Distribution) with 7 years of weighted average lease term (WALT) , 3.5% annual escalations, and in-place rents 10% below market.
Investment Highlights
Core Deal Profile
- 100% leased to two (2) tenants with 7-years of WALT and 3.5% escalations
- In-place rents currently 10% below market
- Fresh capital commitments from credit tenants who have recently expanded within the market:
- Compass Group (64,123 SF – 12/31/2035 LXD) – foodservices & support company, subsidiary of Compass Group PLC (Investment Grade Credit - Moody’s A2)
- Handy Distribution (92,775 SF – 1/31/2031 LXD) – building materials wholesaler founded in 1891 with ~ $265M in annual revenue
Highly Functional Class A Warehouse
- Property recently upzoned to W2
- Full circulation – 4 points ingress/egress
- Ample parking (1.27 per 1,000 SF)
- Fully conditioned warehouse space
- Loading ratio (1 per 5,061 SF)
- 28’ - 31’ clear height
- 220’ building depth
- 105’-170’ truck courts with additional trailer storage capability
Infill Baltimore-Washington Corridor Location
- Directly adjacent to BWI Airport with immediate access to I-95, I-695, & Rte. 100 to service 10.1 million consumers in the broader Baltimore-Washington Region
- Baltimore Commons Industrial Park encompasses 4.3 MSF and is currently 5.6% vacant, outperforming the greater Baltimore industrial market by 460 basis points
Sales Team
