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.
