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Colliers Facilitates Sale of 46 Acre Industrial Property in Hagerstown

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Firm Also Appointed as Leasing Agent for Planned 210,000-Square-Foot Industrial Building

Hagerstown, MD  – Leading global commercial real estate services and investment management firm Colliers (NASDAQ and TSX: CIGI) announces it has facilitated the sale of an industrial property located in Hagerstown, Maryland. A Colliers Maryland Industrial team comprised of Senior Vice Presidents Thomas Gentner, Brian Siegel, SIOR and Brian Watts as well as Vice President Jason Sullivan represented the seller, MLD Limited Partnership.

The 46.93 acre property at 12001 Hopewell Road was purchased by Elberon Development Group and The Avidan Group, a joint venture that develops, constructs, owns and manages commercial real estate. The property is leveled and previously was cleared of foliage, with public utilities available at the site. The joint venture plans to develop a nearly 210,000-square-foot industrial building at the site, however, ownership would consider modifying the site plan for a build-to-suit project. Colliers has been appointed as the exclusive leasing agent.

"Demand for industrial buildings is on the rise, and with e-commerce in high demand, companies are looking for real estate along I-81 that are in or near distribution hubs and warehouse spaces," said Gentner. “We are confident the planned building’s proximity to the I-81 corridor will make it a standout opportunity.”

The property is located only two miles from the I-81 and I-70 interchange, providing easy access to Baltimore and Washington D.C. metro areas. The I-81 corridor, one of the east coast’s most heavily trafficked trucking corridors, is a popular location for distribution hubs. A Colliers Q1 2022 report found that positive demand for industrial space in the North Shenandoah Valley market has continued from the previous quarter.

 


12001HopewellRoadHagarstownMS

Colliers Facilitates Sale of 46 Acre Industrial Property in Hagerstown

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Thomas Gentner

Senior Vice President

Baltimore

Tom Gentner specializes in commercial and industrial leasing and sales in the state of Maryland. Starting in 1989, his industry experience ranges from property representation for disposition or investment to buyer/tenant representation for acquisition or relocation. 

Tom joined Colliers International after spending 27 years at Transwestern and 5 years with the Baltimore brokerage firm Casey & Associates. During his career in commercial real estate, he has sold over 500 acres of land and leased or sold more than 45 million square feet of commercial and industrial space in the greater Baltimore metropolitan area worth an aggregate value of over $2.5 billion.

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Brian Siegel

Senior Vice President

Baltimore

As a Senior Vice President with Colliers International, Brian Siegel specializes in the leasing and sale of industrial/flex and commercial properties throughout the Mid-Atlantic with a focus on the greater Baltimore region.  

With over 14 years of experience providing tenant, buyer/seller representation as well as agency leasing, Brian has represented numerous local, regional, national and international occupier and ownership groups. Brian is consistently a top producing broker in the greater Baltimore region. 

Prior to joining Colliers, Brian worked for 10 years at Transwestern and 4 years at Corridor Reznick which ultimately became a Colliers affiliate office in 2010.  Before entering the commercial real estate sector, Brian worked as an equity trader with Wachovia Capital Markets in Baltimore and New York City. 
 

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Brian Watts

Senior Vice President

Baltimore

As a Senior Vice President, Brian Watts specializes in leasing and sales of office and industrial properties in Maryland. Prior to joining Colliers International, Brian worked at Transwestern for 24 years as both a landlord leasing representative and a third-party broker. He has worked with a multitude of local and institutional owners, which has given him the extensive experience needed to bring his clients best-in-class service. 

Along with Brian’s ownership work, he has advised numerous organizations including both local and national business interests, government agencies and nonprofit organizations. Brian is a perennial top producer in his trade, as evidenced by the many achievements and awards to his name.

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Jason Sullivan

Vice President

Baltimore

Jason Sullivan specializes in leasing and sales of industrial, flex and office properties in Maryland. He is responsible for facilitating transactions and business development, and also speaks to top area real estate decision makers on a daily basis and tracks their pending requirements.

Prior to joining Colliers, Jason worked for 6  years at Transwestern where he represented both tenants and landlords for some of the area’s top companies, local clients and high net worth individuals. Jason is consistently one of the top performing brokers in the marketplace and has brokered over 350 transactions totaling more than $350 million in aggregate value since 2015. 

Jason also served as a building manager for the General Services Administration, where he managed a portfolio of over 500,000 square feet. His responsibilities included creating monthly budgets, overseeing onsite property management, and maintaining strong relationships between the tenants and building ownership. 

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