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Net Lease

Colonial Equipment Company

5171 Intercoastal Ct, Monrovia, MD 21770

Listing Price: $5,500,000

Cap Rate
6.55%
Lot Size
3.99 acres
Year Built
2009
Rentable SF
28,048

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 5171 Intercoastal Ct, Monrovia, Maryland. Colonial Equipment Company (Colonial Equip.) is executing a 10-year Absolute NNN lease upon closing for this 28,048 SF, 2009-built industrial facility on 3.99 fully-paved acres. Colonial Equip. is a leading provider of bus, truck and van sales, leasing, servicing and conversion of existing fleets to Hybrid Electric Vehicles (HEV). Founded in Maryland in 1982, Colonial Equip. grew out of their previous property in Frederick County in the mid 2000s and developed this property in 2009. Today Colonial Equip. boasts clients such as the GSA, University of Maryland, Costco, and Celebree Schools. The property features 12 drive-in doors and 22’ clear heights. It has 22,342 SF of warehouse/service space and a 5,470 SF two-story office with 2 conference rooms, a training room, reception area, 6 bathrooms and numerous offices for the sales team, government contracts team and partners. Intercoastal Ct is situated 1-mile from I-70 which puts the company within a one-day truck/bus drive to a third of the country’s population. Four of the neighboring parcels have been developed into over 100,000 SF of industrial space in the past 3-years and the property is adjacent to a 1.5 million SF Costco distribution center. This investment is a zero-management, Absolute NNN-leased industrial property with annual escalations in the lease and a committed and growing tenant. There is virtually zero vacancy in the local market and the surrounding 3-miles is projected to experience a population growth of 8.26% between 2021 and 2026.

Investment Highlights

  • New 10-Year Absolute NNN-Lease To Be Executed At Closing
  • Within a 2-Minute Drive of a I-70 and 10-Minutes to I-270
  • Growing Industrial Park, Surrounded by New Developments
  • Ample Paved Outdoor Parking/Storage, Critical to Tenant's Use
  • Zero-Vacancy Industrial Submarket with Fast Growing Rents
  • 40-Year-Old Tenant with Customers Such as Costco and the GSA
  • Approved Site Plan Includes an Additional 10,000 SF Building
  • Adjacent to a 1.5 Million Square Foot Costco Distribution Center

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

Net Lease

Colonial Equipment Company

Listing Price: $5,500,000

Cap Rate
6.55%
Lot Size
3.99 acres
Year Built
2009
Rentable SF
28,048

Investment Highlights

  • New 10-Year Absolute NNN-Lease To Be Executed At Closing
  • Within a 2-Minute Drive of a I-70 and 10-Minutes to I-270
  • Growing Industrial Park, Surrounded by New Developments
  • Ample Paved Outdoor Parking/Storage, Critical to Tenant's Use
  • Zero-Vacancy Industrial Submarket with Fast Growing Rents
  • 40-Year-Old Tenant with Customers Such as Costco and the GSA
  • Approved Site Plan Includes an Additional 10,000 SF Building
  • Adjacent to a 1.5 Million Square Foot Costco Distribution Center

Investment Overview

Marcus & Millichap is pleased to exclusively represent the ownership in the sale of 5171 Intercoastal Ct, Monrovia, Maryland. Colonial Equipment Company (Colonial Equip.) is executing a 10-year Absolute NNN lease upon closing for this 28,048 SF, 2009-built industrial facility on 3.99 fully-paved acres. Colonial Equip. is a leading provider of bus, truck and van sales, leasing, servicing and conversion of existing fleets to Hybrid Electric Vehicles (HEV). Founded in Maryland in 1982, Colonial Equip. grew out of their previous property in Frederick County in the mid 2000s and developed this property in 2009. Today Colonial Equip. boasts clients such as the GSA, University of Maryland, Costco, and Celebree Schools. The property features 12 drive-in doors and 22’ clear heights. It has 22,342 SF of warehouse/service space and a 5,470 SF two-story office with 2 conference rooms, a training room, reception area, 6 bathrooms and numerous offices for the sales team, government contracts team and partners. Intercoastal Ct is situated 1-mile from I-70 which puts the company within a one-day truck/bus drive to a third of the country’s population. Four of the neighboring parcels have been developed into over 100,000 SF of industrial space in the past 3-years and the property is adjacent to a 1.5 million SF Costco distribution center. This investment is a zero-management, Absolute NNN-leased industrial property with annual escalations in the lease and a committed and growing tenant. There is virtually zero vacancy in the local market and the surrounding 3-miles is projected to experience a population growth of 8.26% between 2021 and 2026.

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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