Cotten Construction, a family-owned business that has operated out of 115 S. Kresson St. in East Baltimore City for several decades, has sold its property for $1.7 million as it plans to downsize its operations. Jim Chivers of Gold and Company assisted Cotten Construction with the sale that closed in June.
115 S. Kresson St. is a two-acre property with heavy industrial zoning. It has an office building and a separate maintenance building.
Cotten Construction, which specializes in excavation and site preparation, used the site for its offices and heavy construction equipment.
The new owners, Kresson LLC, will start renovations to deliver the property to a tenant. It will use Gold and Company to handle the leasing and marketing efforts.
“With several interested buyers, we were happy to create a win-win for Cotten Construction and the new owners,” said Chivers.
“Access to the Dundalk Marine Terminal and the main interstates, as well as a very simple layout of the storage yard and buildings, will attract heavy industrial users and fleet companies to the site,” added Chivers. “The overall demand for industrial real estate in Baltimore is surging.”
Gold and Company provides commercial real estate brokerage and development services to buyers, sellers, landlords, and tenants in the Baltimore-metropolitan area.