MCRES Brokers Sale of 7510 Montevideo Road for $18.5 Million in Jessup to Gaulin Properties
Former owner Tate USA signs short-term leaseback for the entire 121,211 square foot warehouse and MacKenzie Commercial Real Estate Services is selected as exclusive leasing broker by new owner
Tate, Inc., a global manufacturer, supplier, and installer of custom-designed raised flooring systems has sold its U.S. company headquarters to Gaulin Properties for $18.5 million. MacKenzie Commercial Real Estate Services, LLC brokered the sale of the 121,211 square foot warehouse building located at 7510 Montevideo Road, and was subsequently selected by the new owner as the exclusive leasing broker. Additionally, Tate, Inc. signed a short-term leaseback with Gaulin Properties.
MacKenzie Senior Vice Presidents and Principals Matthew Curran, and Andrew Meeder represented the seller in this transaction and will also handle the leasing assignment.
Situated on a 10-acre site at the intersection of Montevideo Road and Dorsey Run Road in Howard County, 7510 Montevideo Road is equipped with 18-to-21-foot ceiling heights, nine dock-high loading docks and four oversized drive-in doors. The building features an updated two-story office component with a glass entry and includes excess land on the perimeter of the site which can be utilized for outdoor storage and trailer parking.
7510 Montevideo Road is situated less than one mile from US Route 1, less than two miles from Interstate 95, less than eight miles from BWI Airport and less than 14 miles from the Port of Baltimore’s Fairfield Marine Terminal. Washington, D.C. can be accessed in less than one hour, Philadelphia is less than two hours away, and Richmond is just over two hours from the site.
Last summer, Tate revealed intends to develop a new manufacturing facility in Arkansas.
“The new owner of 7510 Montevideo Road acquired a well-maintained and strategically-located asset in a high barrier to entry market with limited industrial investment acquisition opportunities,” stated MacKenzie’s Matthew Curran. “The new owner is planning extensive upgrades to the property to make the property ready for a new tenant in Q4 2025. The property is very unique equipped with heavy power, M-2 zoning and abundant outdoor storage which lends well for manufacturing and a wide array of other uses.””
According to research released by CoStar Group, the vacancy rate for Class “A” and “B” industrial/warehouse product in the Jessup area is approximately 4.5 percent with just over 200,000 square feet of new construction underway.
MacKenzie Commercial Real Estate Services is the real estate brokerage arm of The MacKenzie Companies, which operates five full-service divisions addressing all real estate asset classes including MacKenzie Management Company, MacKenzie Contracting Company, MacKenzie Capital, MacKenzie Investment Group and MacKenzie Multifamily Management. The company provides customized real estate solutions for institutional owners, investors, private companies, and individuals. For additional information, visit www.mackenziecommercial.com
