Hanover, Md., Distribution Center Trades in $13M Deal
Building was recently converted from data center to original warehouse form
By Keith Loria March 5, 2024 1:46 pm
reprints
Distribution By Air, a shipping company under the umbrella of Radiant Logistics, has acquired a 66,590-square-foot warehouse and distribution center in Hanover, Md., for $13 million, Commercial Observer has learned.
The Renton, Wash.-based company will consolidate three facilities in the property, according to Andrew Meeder of MacKenzie Companies, who represented Distribution By Air, and announced the deal on LinkedIn.
Rialto Capital Management was the seller, having acquired the property as part of a nine-building industrial sale in 2018.
Located on 8 acres at 7150 Standard Drive, the property was originally built in 1972 and was converted into a data center amid growing demand in the area following the 2018 sale. However, Rialto recently repositioned the site as a warehouse.
“The demolition, transformation and marketing of this property wouldn’t be possible without Rialto, and together, we successfully repositioned this property in the marketplace with limited downtime,” Thomas Gentner, an executive vice president of Colliers, who represented the seller, said in a statement.
The property includes 6,050 square feet of office space along with a 1-acre fenced, secured area, and features 20-foot clear ceiling heights, six dock-high doors, four at-grade drive-in doors and 2,800 amps of primary electrical service.
The building is close to Baltimore/Washington International Thurgood Marshall Airport, which was a big appeal to the buyer, according to Meeder.
Joining Gentner on the seller’s side was Colliers’ Brian Watts, Brian Siegel and Jason Sullivan.
Keith Loria can be reached at Kloria@commercialobserver.com.
