American Wood Fibers acquires 38,000 square foot building from Greenfield Partners
Lee & Associates Maryland has brokered the sale of 9740 Patuxent Woods Drive, a 38,000 square foot Class “B” building situated in the Columbia section of Howard County for $5 million. Allan Riorda, SIOR, principal and president of Lee & Associates represented the buyer, American Wood Fibers (AWF), in this transaction. The seller was Greenfield Partners.
AWF occupies approximately 84% of the building and is presently marketing the remaining 6,000 square feet of space for lease.
American Wood Fibers, founded in 1966, is recognized as a leader in the field of specialty forestry products serving the industrial, commercial, consumer, and agricultural markets. The company offers large and small animal bedding, industrial wood flour, premium wood pellet products, firewood, soil and compost, specialty commercial, industrial and agricultural products, and transportation services.. Headquartered in Columbia, Maryland, AWF has ten manufacturing sites across the continental U.S
“This acquisition enables American Wood Fibers to build equity in its real estate holdings and represents a sound business decision on behalf of the owners of the company,” explained Allan Riorda of Lee & Associates. “The amount of space utilized by the company is extremely stable, so they have confidence that 9740 Patuxent Road can support their real estate needs for the long term. The building remains in excellent condition and no physical improvements are needed in the foreseeable future.”
Constructed in 1986, the single-story brick and glass building features rear dock loading capabilities and is surrounded by a free surface parking lot. It is within close proximity to Interstate 95, MD Routes 29 and 32 and BWI Airport.
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit www.leeassociates.com.
