THE OFFERING

KLNB Capital Markets, as exclusive representative for the owner, is pleased to present for sale 14709-14713 Baltimore Avenue [The Laurel Commerce Center], a 60,000 square foot, infill small-bay industrial asset located in Laurel, Maryland. The property is conveniently located just 20 miles from Washington, D.C. in the densely populated, high traffic Route 1 Corridor.

INVESTMENT HIGHLIGHTS

Suburban Washington, D.C. infill industrial with 171,000 5-mile population density that drives an insatiable demand for service industrial.

Replacement cost value well in excess of $300 psf that is an insurmountable barrier to new supply.

91% leased, 58,612 SF, with 2.50 WALT; Mark-to-market opportunity with in-place NOI 35% below market rent average with ability to capture “auto bay” rent premiums.

Consistent, predictable cash flow from a rent roll consisting primarily of auto service tenants, many with 10 year average occupancy; sticky tenancy due to zoning scarcity, valuable auto bay infrastructure, and desire for convenient location off busy retail corridor.

Recently completed $500,000 exterior capital improvement plan including roll-up doors, LED lighting, awnings, painting, façade and asphalt work.

The auto care industry is experiencing a notable shift in consumer preference, with a record number of car owners opting to utilize auto service facilities over dealership for repairs & maintenance

Infill industrial submarket – Route 1 Corridor with 5.4% current vacancy rate and 5.7% 10-year average. 6.30% YOY Rent growth, 32% market rent appreciation since 2020.

1986 block and masonry construction, 2,000 – 5,000 SF typical bay size, 15’ to 18’ clear heights, drive-in bays, 2.83 parking ratio. Fully sprinklered.

IG – Industrial General Zoning in the City of Laurel allows by-right for a diverse range of service industrial uses including automotive sales, repair, and rental, consumer repairs, contractor storage yard, commercial kitchens, and light and heavy manufacturing.

Location Overview

Laurel Commerce Center is situated directly off Route 1, and has immediate access to Maryland's major highway networks I-95, I-495, and MD-200 and just 30 minutes from downtown DC.