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Colliers Arranges Sale of $11.55 Million Industrial Property in MD

Located in the Vibrant Baltimore-Washington Industrial Corridor, the Property Features a 49,120-Square-Foot, Fully-Leased Industrial Building & 2.62 Usable Acres of Industrial Outdoor Storage

Elkridge, Howard County, MD – Leading global commercial real estate services and investment management firm Colliers announces it has represented a private investor in the sale of 7167-7175 Kit Kat Road to Gaulin Properties No. 2 LLC.

The Colliers Industrial Capital Markets team of Michael Blunt and Clay Ellis, along with the Colliers Maryland Industrial team of Tom Gentner, Brian Watts, Brian Siegel and Jason Sullivan, provided industrial expertise and exclusive representation to the seller.

Located in Elkridge, a core industrial submarket within the BWI Corridor, 7167-7175 Kit Kat Road features a 49,120-square-foot, single-tenant industrial building and a 2.62-acre industrial outdoor storage (IOS) area. Originally developed in 2005 as a build-to-suit for Waste Management (NYSE: WM), the building remains 100% leased to this investment-grade credit tenant providing strong triple-net cash flow to the owner. The building benefits from a highly functional design which includes 38’-10” clear height; 8’x10’ dock doors with levelers, lights, and seals; oversized 18’x28’ overhead doors; 3,000 amps of heavy power; and a fully circulating truck court.

“The demand for quality industrial assets, particularly those with a combination of cash flow and yield upside, simply continues to accelerate in today’s environment. 7167-7175 Kit Kat Road’s durable income and extraordinary location only 1.5 miles from I-95 were very attractive to investors. However, the yield upside offered by the IOS area provided extra investment incentive.”
Michael Blunt, Executive Vice President, Colliers

The property also contains a vacant, 2.62-acre IOS area for trailer/fleet and outdoor storage. The seller recently invested significant capital into this IOS area to clear, grub and balance the site, as well as to implement key improvements including fencing, retaining walls, driveways, lights, stone, and stormwater management. This area can also be used for potential future building expansion by approximately 30,000 square feet.

Related Experts

Michael Blunt

Executive Vice President

Washington, DC

Michael Blunt is a senior capital markets professional with over 25 years of experience in commercial real estate and more than $12 Billion of transactions closed. Mr. Blunt specializes in the investment sale and recapitalization of industrial properties and development sites throughout the Mid-Atlantic region for domestic and international capital sources. His clients include insurance companies, advisors, private equity investors, REITs, lenders, special servicers, and major corporations.

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Clay Ellis

Senior Associate

Washington, DC

In 2018, Clay joined Colliers International as an investment sales professional. During his time at Colliers, Clay has facilitated the sale of assets totaling over $820M in value.  His transaction experience spans across the Mid-Atlantic region with a focus on the DC Metro region. Clay specializes in the investment sales of industrial, land and multifamily properties. His clients have been institutional investors, private capital investors, REITs, and foreign capital investors. Clay’s previous clients include but are not limited to organizations like Bonaventure, Greystar, Capital Square 1031, Bristol Development, DRA, and Bainbridge. 

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