Finmarc Management Sells Elkridge Warehouse Building for $12.5M
- Jan 20, 2015
By Adrian Maties, Associate Editor
Finmarc Management, Inc., in partnership with Kodiak Properties, LLC, has sold an Elkridge warehouse and distribution building to Denver-based DCT Industrial Trust. The price of the transaction was $12.5 million.
The 120,186-square-foot property is located on a ten-acre site, at 6740 Dorsey Road. It includes separate dry warehouse, freezer, refrigeration and office components. The building features 26 loading docks and a parking lot with 122 spaces.
Jonathan Carpenter of Cassidy Turley represented the sellers in the transaction. According to Finmarc, 6740 Dorsey Road was fully leased at the time of the sale, to one tenant, wholesale food distributor Saval Foodservice.
“6470 Dorsey Road is an excellently maintained asset and fully leased to a strong, stable tenant that remains an industry leader in the local foodservice industry,” Marc Solomon, Principal of Finmarc, said in a statement for the press. “The new owner acquired a building in a region, given the scarcity of available zoned land in the Baltimore-Washington, D.C. marketplace, that exhibits numerous barriers to entry and should realize sustained value in the long-term.”
With the sale of 6470 Dorsey Road, Finmarc and its partners have acquired or disposed of more than $530 million worth of properties in the past two and a half years.
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