FINMARC MANAGEMENT, INC. SELLS 120,000 SQUARE FOOT WAREHOUSE BUILDING IN ELKRIDGE, MD FOR $12.5 MILLION
Posted on: 20/12/2014

6740 Dorsey Road is 100% leased to wholesale food distributor Saval Foodservice 

Finmarc Management, Inc., a Bethesda, Maryland-based commercial real estate firm, in partnership with Kodiak Properties, LLC, has sold 6740 Dorsey Road, a 120,186 square foot warehouse and distribution building located in the Elkridge section of Howard County, Maryland for $12.5 million to DCT Industrial Trust. Jonathan Carpenter of Cassidy Turley represented the sellers in this transaction. The building is presently 100% leased by Saval Foodservice, a wholesale food distribution company operating throughout the Mid-Atlantic region.

6470 Dorsey Road is located at the intersection of MD Routes 1 and 100 in the Baltimore-Washington corridor, with easy access to Interstate 95 and the Baltimore-Washington Parkway (MD Route 295). Positioned on a ten-acre site, the structure contains separate dry warehouse, freezer, refrigeration and office components. Warehouse ceiling heights range from 22 to 26 feet, the building features 26 loading docks and an adjacent parking lot supports approximately 122 vehicles.

Saval Foodservice utilizes this building to house the corporate headquarters and primary warehouse/distribution operations for the 80-year old family-owned company, which services the restaurant, grocery store and catering industries.

“6470 Dorsey Road is an excellently-maintained asset and fully-leased to a strong, stable tenant that remains an industry leader in the local foodservice industry,” explained Marc Solomon, Principal of Finmarc. “The new owner acquired a building in a region, given the scarcity of available zoned land in the Baltimore-Washington, D.C. marketplace, that exhibits numerous barriers to entry and should realize sustained value in the long-term.”

Headquartered in Denver, DCT Industrial is an industrial real estate company specializing in the acquisition, development, leasing and management of bulk distribution and light industrial properties in high-volume distribution markets. The company owns approximately 74.3 million square feet of space and leases properties to more than 900 customers.

With the sale of this asset, over the past two and one-half years Finmarc, along with its partners, has acquired or disposed of more than $530 million worth of properties.

Finmarc Management, Inc. is a fully-integrated commercial real estate company that focuses on the real estate investment, management, leasing and development of retail, industrial/flex projects, and office buildings throughout the Mid-Atlantic region. The firm presently manages a diverse portfolio encompassing more than five million square feet of space situated in Maryland, Washington, D.C., Virginia, Delaware, New Jersey and Pennsylvania. For additional information, visit www.Finmarc.com.