2.7-Acre Industrial Property Sells for $1.6 million Gold and Company Brokered the Sale and will Handle Leasing for New Owner

The industrial property at 614 West Patapsco Avenue in South Baltimore City sold this week for $1.6 million. The 2.7-acre site with 7,500 sf of building, located in a Historically Underutilized Business Zone (HUBZone), was occupied by the former owner’s construction company and is currently partially leased.

Gold and Company Senior Vice President Jim Chivers orchestrated the transaction. Chivers said the new buyers, Baltimore-based industrial real estate investors, will do some cosmetic work before making it available for lease with Gold and Company. The property is ideal for contractors and/or heavy industrial tenants who have a need for outside storage and drive-thru maintenance bays.

This is the third time in the past 15 years Gold and Company has sold the property. Each successive owner/user has benefited in terms utilization of the property and return on investment.

Right now, "E-Commerce is creating additional demand in the industrial market nationwide," said Chivers, "and, while the pandemic remains a significant caveat, Baltimore's industrial market has remained resilient."

Baltimore City-based Gold and Company provides commercial real estate brokerage and development services to buyers, sellers, landlords, and tenants in the Baltimore metropolitan area.