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Warehouse

CDJ Distillery Industrial Park

2601 Emory Rd, Finksburg, MD 21048

Listing Price: $5,300,000

Cap Rate
7.29%
Gross SF
68,560
Price/Gross SF
$77.30
Lot Size
14.80 acres
Year Built
1950
Rentable SF
68,560

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of the CDJ Distillery located at 2601 Emory Rd, Finksburg, MD (the “Property”). This multi-tenant industrial park is located on 14.80 acres near the border of Carroll and Baltimore Counties. The property consists of ten buildings totaling over 68,000 SF of primarily industrial space with some office and over an acre of leased outdoor storage. For most of the 20th century this property was home to various distilleries that produced and barreled bourbon, rye whiskey and grain neutral spirits. In 1978, the property was converted to a truck terminal and storage lot. In 2001, the current ownership acquired the property and converted its buildings to a mix-used, multi-tenant, industrially-focused business community. Today, two of the original buildings remain and are surrounded by 9 newer warehouses and an office building built after 1978. The park has a mix of paved and gravel roads. The property is currently 92.74% leased and the only vacancy is a recently vacated office space where a long-term tenant was acquired by a larger company and consolidated into another property. Prior to the recent vacancy, the park remained fully occupied for years. The property is well maintained and there have been many recent capital investments. In July 2021, a $200,000+ investment was made to apply a Conklin roof coating to 6 of the 10 buildings. The office space in building 1 was renovated in 2016 and is in move-in ready condition. The park is also equipped with highly energy efficient features. This investment provides the unique opportunity to purchase a well-kept industrial park with upside in both filling vacancy and increasing rents. Nearby properties boast high occupancy and industrial rents saw a 3.3% increase in the trailing twelve months. The CDJ Distillery is situated in the rapidly growing Greater Baltimore industrial market and within a 30-minute drive of the Port of Baltimore.

Investment Highlights

  • 68,560 SF Industrial Park with Heavy Industrial Zoning
  • Tenured Tenants With a History of Full Occupancy
  • Centrally Located Near Major Transportation Routes
  • Well Maintained Property with Recent Capital Improvements
  • Largest Tenant Executed a New 5-Year Lease in July 2021
  • Upside Through Filling Vacancy And Increasing Rents
  • High Occupancy Industrial Market With Growing Rents

Exclusively Listed By

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: BR98372978, FL: BK3079114, VA: 0225215804

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

Warehouse

CDJ Distillery Industrial Park

Listing Price: $5,300,000

Cap Rate
7.29%
Gross SF
68,560
Price/Gross SF
$77.30
Lot Size
14.80 acres
Year Built
1950
Rentable SF
68,560

Investment Highlights

  • 68,560 SF Industrial Park with Heavy Industrial Zoning
  • Tenured Tenants With a History of Full Occupancy
  • Centrally Located Near Major Transportation Routes
  • Well Maintained Property with Recent Capital Improvements
  • Largest Tenant Executed a New 5-Year Lease in July 2021
  • Upside Through Filling Vacancy And Increasing Rents
  • High Occupancy Industrial Market With Growing Rents

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of the CDJ Distillery located at 2601 Emory Rd, Finksburg, MD (the “Property”). This multi-tenant industrial park is located on 14.80 acres near the border of Carroll and Baltimore Counties. The property consists of ten buildings totaling over 68,000 SF of primarily industrial space with some office and over an acre of leased outdoor storage. For most of the 20th century this property was home to various distilleries that produced and barreled bourbon, rye whiskey and grain neutral spirits. In 1978, the property was converted to a truck terminal and storage lot. In 2001, the current ownership acquired the property and converted its buildings to a mix-used, multi-tenant, industrially-focused business community. Today, two of the original buildings remain and are surrounded by 9 newer warehouses and an office building built after 1978. The park has a mix of paved and gravel roads. The property is currently 92.74% leased and the only vacancy is a recently vacated office space where a long-term tenant was acquired by a larger company and consolidated into another property. Prior to the recent vacancy, the park remained fully occupied for years. The property is well maintained and there have been many recent capital investments. In July 2021, a $200,000+ investment was made to apply a Conklin roof coating to 6 of the 10 buildings. The office space in building 1 was renovated in 2016 and is in move-in ready condition. The park is also equipped with highly energy efficient features. This investment provides the unique opportunity to purchase a well-kept industrial park with upside in both filling vacancy and increasing rents. Nearby properties boast high occupancy and industrial rents saw a 3.3% increase in the trailing twelve months. The CDJ Distillery is situated in the rapidly growing Greater Baltimore industrial market and within a 30-minute drive of the Port of Baltimore.

Exclusively Listed By

  • John Faus

    Associate

    (202) 536-3718

    Email John

    License(s): MD: 5002763

    Washington, D.C.

  • Bryn Merrey

    Senior Managing Director Investments

    (202) 536-3727

    Email Bryn

    License(s): MD: 646476, DC: BR98372978, FL: BK3079114, VA: 0225215804

    Washington, D.C.

Financing By

  • Jared Cassidy

    First Vice President Capital Markets

    Direct:

    Email Jared

    Washington, D.C., MD

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