New owner continues to seek opportunistic Class B and C buildings throughout region
Pessin Katz Law, P.A. (PK Law) represented K&S Capital in the $1.5 million acquisition of 6320 Oakleaf Avenue, a 38,000 square foot industrial/warehouse building located in Baltimore City. Herbert Burgunder III, Member, PK Law represented K&S Capital and the transaction was brokered by Gary Olschansky, who represented the seller, Blue Ocean Realty. The building was 100% leased and occupied at the time of the sale.
Constructed in 1954, the single-story building features 14-24 foot ceiling heights and two drive-in grade level loading doors. A free surface parking lot surrounds the building which is contained on just over one acre of land. The project is less than one mile from Reisterstown Road Plaza and a subway metro station, less than one mile from Northern Parkway and approximately three miles from Interstate 695 and Interstate 83 (Jones Falls Expressway).
“This building aligns perfectly with our goal to acquire strategically-located and attractively-priced industrial and warehouse buildings throughout the Maryland region,” stated Adam Khosh, Principal of K & S Capital, LLC. “We were particularly attracted to this building’s placement within a Baltimore City Enterprise Zone, which allows the opportunity for incentives to the tenants. The price-per-square-foot in Maryland, compared with neighboring states, is extremely favorable but that is changing.
“The logistics industry is expanding at an extremely rapid rate due to the e-commerce explosion, and need among companies to have warehouse and distribution facilities near large population centers. Basically, developers cannot build new product fast enough and the vacancy among existing inventory is very low,” he added.
“K&S Capital is a relatively small but extremely nimble company that is able to respond quickly to acquisition opportunities, which is demonstrated by their strong activity over the past several years,” stated Herbert Burgunder III, Member, PK Law. “Company principals are extremely hands-on and are motivated to make deals happen. They have strong financial backing and access to resources, providing them the ability to complete deals quickly as evidenced by this transaction which was closed in an extremely short timeframe.”
Founded in 2014 and headquartered in Baltimore, K & S Capital focuses on the acquisition of Class B and C warehouse/industrial buildings located in the Maryland area. The company presently has nearly $14 million in assets. For additional information visit www.kandscapital.com.
Pessin Katz Law, P.A. (PK Law) is the ninth largest law firm in the Baltimore area and has been serving clients for over thirty years. PK Law maintains full-service offices in Towson, Columbia, and Bel Air and is comprised of more than 60 lawyers, paralegals and law clerks. Practice areas include corporate law, real estate, zoning, education law, estate planning, elder law, labor and employment, litigation, insurance law and medical malpractice defense. For additional information, visit www.PKLaw.com
