Net Lease

Amazon Driver Training Facility

925 Todds Ln, Rosedale, MD 21237

Listing Price: $10,100,000

Cap Rate
5.50%
Lot Size
12.55 acres
Year Built
2000
Rentable SF
1

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 925 Todds Lane, Rosedale, Maryland (the “Property”). This 54.61 acre industrially zoned parcel is leased to Amazon and 160 Driving Academy. Strategically located off Pulaski Hwy, minutes from I-695 and I-95, and with proximity to multiple Amazon warehouses, The Port of Baltimore and Tradepoint Atlantic, it has remained fully leased to national tenants even prior to Amazon. MH zoning is the most permissible industrial zoning and with no nearby residential zoning, special exceptions have been granted to this property in the past. Of the 54.61 acres, 14.82 acres are leasable, with Amazon currently occupying 10.25 acres and 160 Driving Academy leasing 2.3 acres. An additional 2.25 acres could be leased if cleared and paved. The remainder of the property is protected forest buffer or Storm Water Management areas. MH zoned land is supply-constrained and in demand for numerous uses such as truck & trailer parking and various types of outdoor storage. Prior to Amazon’s lease, the property was occupied by IAA, Inc. (NYSE: IAA), a national auto auction company and ModSpace (Nasdaq: WSC), a leader in modular buildings and portable storage units. The Amazon lease was signed prior to IAA’s lease termination so no vacancy occurred between tenants. Amazon, the world’s largest online retailer, with revenue of $321 billion, currently uses the site to train new van and truck drivers and has the right to add additional uses. Amazon has a fleet of 30,000 Amazon-branded vans and 20,000 Amazon-branded trailers and recently ordered 100,000 new electric delivery vehicles. Amazon signed a 5-year lease commencing in January 2020 with two 5-year options and 3% annual increases. 160 Driving Academy is the largest CDL training school in the country. With a national shortage of truck drivers, 160 Driving School has expanded from 30 locations in 2013 to 70 locations today. In addition, the pandemic-induced spike in unemployment plus booming logistics demand has caused a surge in business for truck driving schools. 160 Driving Academy signed a 5-year lease in the beginning of 2019 with 3% annual increases. Between the scarcity of industrially zoned land and the ongoing surge in demand, the Property offers a stable and low-management opportunity to capitalize on larger trends leading to substantial growth in the industrial sector. In addition, a new owner can add over $100,000 to the NOI by clearing and leasing an additional 2.25-acre lot that is currently unused.

Investment Highlights

  • Historically Fully Leased to National Tenants
  • Minimal Management Necessary
  • Amazon Aggressively Expanding in Maryland

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: PB98372978, FL: BK3079114, VA: 0225215804

    Washington, D.C.

  • Christopher Burnham

    First Vice President Investments

    (443) 703-5020

    Email Christopher

    License(s): MD: 646938

    Baltimore

  • Robert Filley

    First Vice President Investments

    (202) 536-3736

    Email Robert

    License(s): DC: sp98366082, MD: 579129, VA: 0225 079990

    Washington, D.C.

Net Lease

Amazon Driver Training Facility

Listing Price: $10,100,000

Cap Rate
5.50%
Lot Size
12.55 acres
Year Built
2000
Rentable SF
1

Investment Highlights

  • Historically Fully Leased to National Tenants
  • Minimal Management Necessary
  • Amazon Aggressively Expanding in Maryland

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 925 Todds Lane, Rosedale, Maryland (the “Property”). This 54.61 acre industrially zoned parcel is leased to Amazon and 160 Driving Academy. Strategically located off Pulaski Hwy, minutes from I-695 and I-95, and with proximity to multiple Amazon warehouses, The Port of Baltimore and Tradepoint Atlantic, it has remained fully leased to national tenants even prior to Amazon. MH zoning is the most permissible industrial zoning and with no nearby residential zoning, special exceptions have been granted to this property in the past. Of the 54.61 acres, 14.82 acres are leasable, with Amazon currently occupying 10.25 acres and 160 Driving Academy leasing 2.3 acres. An additional 2.25 acres could be leased if cleared and paved. The remainder of the property is protected forest buffer or Storm Water Management areas. MH zoned land is supply-constrained and in demand for numerous uses such as truck & trailer parking and various types of outdoor storage. Prior to Amazon’s lease, the property was occupied by IAA, Inc. (NYSE: IAA), a national auto auction company and ModSpace (Nasdaq: WSC), a leader in modular buildings and portable storage units. The Amazon lease was signed prior to IAA’s lease termination so no vacancy occurred between tenants. Amazon, the world’s largest online retailer, with revenue of $321 billion, currently uses the site to train new van and truck drivers and has the right to add additional uses. Amazon has a fleet of 30,000 Amazon-branded vans and 20,000 Amazon-branded trailers and recently ordered 100,000 new electric delivery vehicles. Amazon signed a 5-year lease commencing in January 2020 with two 5-year options and 3% annual increases. 160 Driving Academy is the largest CDL training school in the country. With a national shortage of truck drivers, 160 Driving School has expanded from 30 locations in 2013 to 70 locations today. In addition, the pandemic-induced spike in unemployment plus booming logistics demand has caused a surge in business for truck driving schools. 160 Driving Academy signed a 5-year lease in the beginning of 2019 with 3% annual increases. Between the scarcity of industrially zoned land and the ongoing surge in demand, the Property offers a stable and low-management opportunity to capitalize on larger trends leading to substantial growth in the industrial sector. In addition, a new owner can add over $100,000 to the NOI by clearing and leasing an additional 2.25-acre lot that is currently unused.

Exclusively Listed By

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: PB98372978, FL: BK3079114, VA: 0225215804

    Washington, D.C.

  • Christopher Burnham

    First Vice President Investments

    (443) 703-5020

    Email Christopher

    License(s): MD: 646938

    Baltimore

  • Robert Filley

    First Vice President Investments

    (202) 536-3736

    Email Robert

    License(s): DC: sp98366082, MD: 579129, VA: 0225 079990

    Washington, D.C.

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