Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 508 Digiulian Blvd, a 28,704-square-foot industrial property located in Glen Burnie, Maryland, according to Brian C. Hosey, regional manager of the firm’s Baltimore office. The asset sold for $4,100,000.
“The industrial market around BWI (Baltimore-Washington International) Airport continues to remain strong despite recent economic headwinds,” said Bryan Herr, associate in Marcus & Millichap’s Baltimore office.
Bryan Herr, Nicholas Pirone, and Robert Filley, investment specialists in Marcus & Millichap’s Baltimore office, had the exclusive listing to market the property on behalf of the seller, Mahli Properties.
“Land scarcity and strong market fundamentals for industrial properties continue to allow us to achieve strong pricing for our clients,” added Herr.
This property sits in a strong submarket of Anne Arundel County, one of the most sought after stretches of industrial and flex inventory in the greater Baltimore metropolitan area. Attractive selling points for investors, owners, and users arethe proximity to BWI Airport, two major throughfares on I-97 and Route 100, and consistent population growth and rent growth year over year. The location meets the robust needs of the logistics sector, as industrial and flex buildings continue to be a bright spot for economic growth.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
