MacKenzie Brokers Two-Building Sale in Carroll County
Local investor KDC Group, Inc. acquires 901 and 909 Baltimore Boulevard in Westminster.
KDC Group, Inc., an Eldersburg, Maryland-based investment group, has acquired a two-building portfolio in the Westminster section of Carroll County for just over $4.5 million. Dennis Boyle, Senior Vice President of MacKenzie Commercial Real Estate Services, LLC represented both the sellers, James Too, LLC and 909 James, LLC, and the buyer in the sale of 901 and 909 Baltimore Boulevard, cumulatively totaling more than 50,000 square feet of space. Both single-story assets are nearly 100 percent leased.
901 Baltimore Boulevard is a 4,500 square free-standing retail building which was built in 1962 and is currently leased and occupied by Sherwin-Williams. 909 Baltimore Boulevard is comprised of two warehouse sections comprising approximately 30,000 square feet of space, as well as a 15,000 square foot shared office component and is approximately 94 percent leased. Constructed in 1973, the asset features 20-foot ceiling height and six dock and three drive-in doors.
Warehouse tenants include Knorr Brake Company, a Westminster-based company which utilizes the building for overflow storage, and RMG Trading, a company engaged in the refurbishment of commercial kitchen equipment. Also known as the Carroll Innovation Center, the office portion features separate training and conference rooms and is leased by a number of professional services, health-related and general business companies.
Both buildings front MD Route 140 and are approximately 20 miles from Owings Mills, 30 miles from Frederick and BWI Airport, 35 miles from Baltimore and 65 miles from Washington, D.C.
MacKenzie Commercial Real Estate Services has been retained by KDC Group to handle the remaining leasing of the two properties, with Dennis Boyle overseeing the requirement.
“The new owner acquired two income-producing, well-maintained and strategically-located assets at below replacement cost,” explained MacKenzie’s Dennis Boyle. “The tenant roster has experienced minimal turnover in recent years and, based on activity in the Carroll County marketplace, we expect to bring the buildings to full occupancy in the very near future. This is an excellent investment for the new owner and one that will achieve long-term value.”
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates six full-service divisions addressing all real estate asset classes including MacKenzie Management Company, LLC, MacKenzie Contracting Company, LLC, MacKenzie Capital, LLC, MacKenzie Investment Group, LLC and MacKenzie Multifamily Management, LLC. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com.
